824 Tacoma St Portland, OR 97202
- Residential income homes
- 2,321 SF
Current Use by Public Records
- Residential income homes
Property Details for 824 Tacoma St
- Year built
- 1936
- Property size
- 2,321 SF
- Property type
- Residential income homes
- Property subtype
- Dormitories
Description
This exceptional investment opportunity presents two completely renovated homes situated on a single lot in the highly desirable Sellwood neighborhood of Portland, Oregon. Built in 1936 and extensively updated in 2023, this multifamily property boasts a total of 2,321 square feet, encompassing six bedrooms and two bathrooms distributed across two separate buildings. Each home offers unique charm and high-end finishes, including light and bright floor plans, hard surface flooring, and neutral designer tones. Home one features four bedrooms and one bathroom in 1,661 square feet, currently leased for $3,025 per month. Home two comprises two bedrooms and one bathroom within 660 square feet, generating a monthly rental income of $2,095. The property benefits from convenient parking, with a dedicated pad for each home. Its enviable location places it within walking distance of Sellwood's vibrant culinary scene, including popular restaurants, coffee shops, and bakeries. The property's strong financial performance is reflected in its $769,900 asking price, a 6.67% cap rate, and a substantial net operating income (NOI) of $51,390. This represents an excellent opportunity for investors seeking a well-located, high-performing multifamily asset in a thriving Portland neighborhood. The property is fully leased, offering immediate cash flow.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.6574171
- Latitude
- 45.4641665
