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    Portland Duplex: Value-Add Opportunity Title is generated by Realmo AI

    503 SE 157TH Ave, Portland, OR 97233

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    Claim this Listing
    For Sale
    $1,279,900

    MULTI_FAMILY - Portland, OR

    Property size:
    6,076 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $210/SF
    Added:
    May 4, 2026
    Days on Market:
    55
    Last Refresh:
    Jun 27 at 12:06 am

    Property Features for 503 SE 157TH Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RM1
    Bedrooms
    6
    Bathrooms
    6
    Rooms
    Bedroom 4, Bathroom 1, Bathroom 5, Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 6, Bedroom 1, Bathroom 4, Bathroom 6
    Standard status
    Active
    APN
    Not Found
    Size
    6,076 SF
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Description
    PARTITION PLAT 2011-43, LOT 1 & PARTITION PLAT 2011-43, LOT 2
    Tax Annual Amount
    12513

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    2010
    Floors in Building
    2
    Number of units
    4
    Roof type
    Composition

    We can help!

    Contact an agent
    Mike Agee
    Mike Agee

    Listing agent Mike Agee License #830900045

    Listing office John L. Scott Sandy 17150 University Ave Ste 200, Sandy, OR

    Listing date May 4, 2026

    MLS# 563101202 Listing URL

    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

    • Strong value‑add potential through increased rents (current rents below market).
    • Each unit has 3 bedrooms and 2.5 baths, including a spacious primary suite.
    • Each unit includes a private fenced yard and dedicated single‑car garage.
    • Well‑equipped kitchens include range, dishwasher, microwave hood, and refrigerator.
    • Washer/dryer hookups in all units; 3 of 4 units include a washer and dryer.
    • Long‑term tenants in place.

    Overview

    This investor-ready duplex in Portland, Oregon, offers a value-add opportunity. Each unit features 3 bedrooms and 2.5 baths, including a spacious primary suite. The units also include a private fenced yard and a dedicated single-car garage, making them suitable for long-term tenant retention. The kitchens are equipped with a range, dishwasher, microwave hood, and refrigerator. Three of the four units include a washer and dryer, with washer/dryer hookups available in the remaining unit. The property has a total size of 6076 square feet and is located on a 0.1-acre lot. The property is zoned RM1. Rents are historically below market with reliable long-term tenants in place, presenting an excellent opportunity to increase cash flow. Current rent comparisons support potential rents of approximately $2,295 per unit per month.

    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 $127.6k $21.00
    − Vacancy −$6.6k −$1.09
    EGI $121.0k $19.91
    − OpEx −$36.3k −$5.97
    NOI $84.7k $13.94
    6,076 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $1.21M
    $1.06M – $1.41M (±1% cap)
    NOI $84,673 @ 7.0% cap · market cap 6.62%
    Second Best
    Apartment 5plus
    $1.11M
    $975.2K – $1.30M (±1% cap)
    NOI $78,016 @ 7.0% cap · market cap 6.10%
    Theoretical Best
    Office A
    $1.71M
    $1.49M – $1.99M (±1% cap)
    NOI $119,440 @ 7.0% cap · market cap 9.33%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.502177
    Latitude
    45.518938

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    FAQs

    What type of property is this?
    Quadplex - Investor-ready duplex with value-add potential in Portland, Oregon.
    Where is this quadplex located?
    The property is located at 503 SE 157TH Ave Portland, OR.
    What is the asking price?
    The asking price for this property is $1,279,900.
    What are key features of this property?
    This property features: Strong value‑add potential through increased rents (current rents below market).; Each unit has **3 bedrooms and 2.5 baths, including a spacious primary suite.**; Each unit includes a **private fenced yard and dedicated single‑car garage.**
    (503) 504-2499
    We can help!
    Contact an agent
    Mike Agee
    Mike Agee
    Real Estate License ID: 830900045
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