Share this with your friends
(503) 621-2072
Opt Real Estate
3604 SE 7TH AVE, Portland, OR 97202
- $500,000
- 2,376
- SqFt
- List Price
- $500,000
- Days on Market
- 1
- MLS#
- 339184298
- Property Type
- Multifamily
- Sqft. of Residence
- 2,376
- Lot Size
- 5, 000 to 6, 999 SqFt
- Region
- Portland Southeast
- Status
- ACTIVE
Property Description
Value-add opportunity in SE Portland's Brooklyn neighborhood with potential for a 6-bedroom, 4-bath duplex. This vacant property offers flexibility for an investor or house hacker ready to put in the work and create long-term value. One side is largely finished with 3 bedrooms and 2 bathrooms, hardwood floors, an updated kitchen, abundant natural light and original character. Some TLC is still needed, including completion of a currently gutted bathroom. The second unit is laid out for an additional 3 bedrooms and 2 bathrooms but requires significant finishing, creating an opportunity to complete the space and generate additional rental income. Live in one side while completing the other, or finish the project and position both units for rental income. Both units are vacant, allowing a new owner to begin improvements immediately. A large 1,107 sq ft unfinished basement, not included in the stated 2,376 sq ft, provides substantial storage and possible future use, subject to buyer due diligence. With a 92 Bike Score and 79 Walk Score, plus convenient access to the MAX Orange Line, public transit and nearby parks, the location offers connectivity throughout inner SE Portland. Based on a property management company's pro forma, projected annual gross income is approximately $50,000, with approximately $20,000 in projected operating expenses and $30,000 in projected net operating income, reflecting a projected 6.67% cap rate and 9.0 gross rent multiplier. Property is currently vacant with no actual rental income or operating history. Cash or rehab financing only due to current condition. Buyer to verify square footage, permitted uses, renovation requirements, rental projections and future use possibilities. [Home Energy Score = 1. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10252548]
/u.realgeeks.media/makeportlandhome/Adobe_Express_-_file.png)
Additional Information
- Tax Amount
- $7,769
- Year Built
- 1949
- High School
- Cleveland
- Elementary School
- Grout
- Middle School
- Hosford
- Acres
- 0.11
- Living Area
- 2,376
- Stories
- 2
- Subdivision
- BROOKLYN NEIGHBORHOOD
- Terms
- Cash, Rehab
- Cooling Description
- None
- Fuel Description
- Oil
- Heating Description
- Forced Air
- Hoa Rent Includes
- None
- Hot Water Description
- Electricity
- Exterior Description
- Vinyl Siding
- Roof Type
- Composition
- Sewer Description
- Public Sewer
- Parking
- Driveway, On Street
- Parking Description
- Driveway, On Street
- Road Surface
- Paved
- Number Of Units Total
- 2
- Unit Type One Baths Total
- 2
- Unit Type One Beds Total
- 3
- Unit Type One Sq Ft
- 1188
- Unit Type One Units Total
- 1
- Unit Type Two Baths Total
- 2
- Unit Type Two Beds Total
- 3
- Unit Type Two Units Total
- 1
Mortgage Calculator
Listing courtesy of Summa Real Estate Group.
The content relating to real estate for sale on this site comes in part from the IDX program of the RMLS of Portland, Oregon. Real Estate listings held by brokerage firms other than this firm are marked with the RMLS logo, and detailed information about these properties include the name of the listing's broker. Listing content is copyright © 2026 RMLS of Portland, Oregon. All information provided is deemed reliable but is not guaranteed and should be independently verified. This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.