- ADDRESS:
- 136 SE 97TH AVE Portland, OR 97216
- VIDEOS:
- Print this Listing
- Price:
- $379,000
- Beds:
- 3
- Baths:
- 2.0
- Ft²:
- 1049
- Acres:
- 0.12
- MLS#:
- 24456797
- Lot Size:
- 5,000 to 6,999 SqFt
- Type:
- Detachd
- Zone:
- EXD
- County:
- Multnomah
- Style:
- 1 Story
- Yr Built:
- 1979
- Status:
- Active
- Levels:
- 1
- Garage:
- Attached
- Heat:
- WallHeater, Wood Stove
- Fireplace:
- Wood Burning
- Roof:
- Composition
- Accessibility:
- Garage on Main, One Level, Parking, Utility Room On Main, Walk-in Shower
- Elem:
- Cherry Park
- Middle:
- Floyd Light
- High:
- David Douglas
- Lot Desc:
- Level, Pasture
- Area:
- Portland Southeast
- Exterior:
- Fenced, Yard
- Courtesy of:
- MORE Realty
- Remarks:
- This property presents a unique investment opportunity, blending stable rental income with significant future potential. Currently zoned for commercial use but functioning as a residential rental, this property is occupied by long-term tenants who have been in place for 7 years, benefiting from the Section 8 housing program. The existing structure offers comfortable living space with 3 bedrooms and 2 bathrooms, making it an ideal residence for tenants seeking convenience and accessibility. The property’s commercial zoning adds a layer of versatility, providing the possibility for future development or conversion to a commercial enterprise, all while maintaining a steady income stream from the current residential use. Situated in a prime location with easy access to major transportation routes, shopping, and amenities, this property is perfect for investors looking to secure a solid return today with the flexibility to adapt to future market needs. The Section 8 tenant has not had a rent increase since 2018, and according to the local public housing authority, a rental increase will most likely be approved, offering an additional financial upside. The current tenants pay $2,058 monthly rental income. For further questions, please contact the listing agent. Don’t miss out on this rare chance to own a dual-purpose property in the heart of Portland’s evolving landscape. No sign on property. DO NOT disturb tenants.