1907 Duplex with Separate
3632 SE BELMONT St, Portland, OR 97214
New
MULTI_FAMILY - Portland, OR
Property size:
2,938 SFLot size:
0.08 AcresPrice / SF:
$236/SF- Added:
- Jun 11, 2026
- Days on Market:
- 1
- Last Refresh:
- Jun 11 at 11:06 pm
Property Features for 3632 SE BELMONT St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM2
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 4
- Standard status
- Active
- APN
- R281126
- Size
- 2,938 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Description
- SUNNYSIDE & PLAT 2 & 3, BLOCK 69, LOT 5
- Tax Annual Amount
- 8470
Utilities
- Heating system
- Heat Pump (Heating), Forced Air
- Cooling system
- Heat Pump
Building Details
- Year built
- 1907
- Floors in Building
- 2
- Number of units
- 2
- Roof type
- Composition
Listing agent Eric Guess (503) 360-3329
Listing office Rarebird Real Estate 800 NE Broadway St, Portland, OR (503) 451-0545
Listing date Jun 11, 2026
MLS# 604185505
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 1907 duplex with two 2BR/1BA units, each with separate entrances and dedicated porches
- Lower unit includes a permitted sunroom with skylights; upper unit has a freshly remodeled kitchen and updated bath
- Heat pump heating and forced air; cooling provided by heat pump (two systems: heat pump up, furnace + heat pump down)
- Recent updates include newer roof, updated electrical panels, attic insulation, and painted interior/exterior in 2024
- Water line replaced in 2016 and sewer line replaced in 2014; PEX supply noted
- Full‑footprint basement includes a previously permitted full bath location and shared washer/dryer
Overview
Built in 1907, this duplex offers two 2-bedroom, 1-bath units with separate entrances and dedicated porches. Interior character features include reclaimed gym flooring, 100-year-old stained glass, and Ann Sacks/Pratt & Larson tile. The lower unit includes a permitted sunroom with skylights, while the upper unit has a freshly remodeled kitchen and an updated bath. The property also includes a fenced backyard, shared laundry in a full-footprint basement, and a basement area previously permitted for a full bath that is ready to restore.
Located on the Belmont strip, the home is described as having a 96 Walk Score with coffee, restaurants, and shops within walking distance. Zoning is listed as RM2, and the listing notes that density upside may apply, with verification required by the buyer.
This configuration supports multiple living strategies, including living in one unit while renting the other, or using the property as a single-family. Reported updates include newer roof, heat pump heating upstairs, furnace plus heat pump downstairs, updated electrical panels, attic insulation, PEX supply, and water and sewer line replacements in 2016 and 2014. Stainless steel appliances were noted, and the interior and exterior were painted in 2024. The property is delivered vacant at close.
Located on the Belmont strip, the home is described as having a 96 Walk Score with coffee, restaurants, and shops within walking distance. Zoning is listed as RM2, and the listing notes that density upside may apply, with verification required by the buyer.
This configuration supports multiple living strategies, including living in one unit while renting the other, or using the property as a single-family. Reported updates include newer roof, heat pump heating upstairs, furnace plus heat pump downstairs, updated electrical panels, attic insulation, PEX supply, and water and sewer line replacements in 2016 and 2014. Stainless steel appliances were noted, and the interior and exterior were painted in 2024. The property is delivered vacant at close.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.7k | $21.00 |
| − Vacancy | −$3.2k | −$1.09 |
| EGI | $58.5k | $19.91 |
| − OpEx | −$17.5k | −$5.97 |
| NOI | $40.9k | $13.94 |
2,938 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$584.9K
$511.8K – $682.4K
NOI $40,943 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$538.9K
$471.6K – $628.7K
NOI $37,724 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$825.1K
$721.9K – $962.6K
NOI $57,754 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.626419
- Latitude
- 45.516318
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two 2BR/1BA units with separate entrances, porches, and a fenced backyard, delivered vacant for owner-occupant or rental use.
Where is this duplex located?
The property is located at 3632 SE BELMONT St Portland, OR.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 1907 duplex with two 2BR/1BA units, each with separate entrances and dedicated porches; Lower unit includes a permitted sunroom with skylights; upper unit has a freshly remodeled kitchen and updated bath; Heat pump heating and forced air; cooling provided by heat pump (two systems: heat pump up, furnace + heat pump down)
