7521 N GLOUCESTER AVE Active Save Request In-Person Tour Request Virtual Tour
Portland,OR 97203
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,892 sqft
Price per Sqft $210
Subdivision Portsmouth
MLS Listing ID 232296525
Year Built 1909
Annual Tax Amount $6,651
Tax Year 2024
Lot Size 4,356 Sqft
Property Description
Charming Farmhouse Triplex in the Heart of North Portland – Fully Leased with 5% Cap Rate and Upside Potential. Tenants are month-to-month but can sign annual leases. This former farmhouse, now a thoughtfully converted triplex, is nestled in the vibrant Peninsula neighborhood. This income-producing property blends vintage charm with modern upgrades. Opportunities for increased cash flow or re-development into a higher density building. New exterior paint coming in October. All 3 units have been updated, have access to storage in the basement, a coin-operated laundry for additional income, shared backyard + deck, and front porches. The lot abuts a parking lot, of which 6' x 50' belongs to the property for potential on-site parking (driveway easement agreement needed) • Unit 1: A warm and inviting 1-bedroom featuring original hardwood floors, working wood-fireplace, and a stylish 2015 update with new countertops and a refreshed bathroom. • Unit 2: A quaint 2-bedroom with hardwood floors, a large kitchen, built-ins, and a recently remodeled bathroom and kitchen. Features classic penny tile a, clawfoot tub, and original hardware • Unit 3: Spanning the entire upper floor, this bright 2-bedroom unit includes new carpeting, and newly added air conditioning / furnace, a refreshed kitchen with marmoleum flooring, and a generous bonus room perfect for a playroom or large walk-in closet. Located less than a mile from Arbor Lodge's New Seasons Market, and just two miles to both the Kenton and St. Johns commercial districts. A few short blocks to University of Portland, this property is perfectly positioned for walkability and long-term desirability. Served by the 75 and 35 Bus-lines, with lots of nearby shops and restaurants on Lombard Avenue. • Zoned CM2 (Commercial Mixed Use 2) – flexible for a variety of future uses into higher density apartments. Whether you're a seasoned investor or a visionary homebuyer, this one-of-a-kind triplex offers with shops, parks and activities.
Location
State OR
County Multnomah
Community Laundry
Area _141
Zoning CM2
Rooms
Basement Partial Basement, Storage Space, Unfinished
Interior
Heating Forced Air
Cooling Central Air
Exterior
Community Features Laundry
View Trees Woods
Roof Type Shingle
Garage No
Building
Lot Description On Busline, Trees
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Astor
Middle Schools Astor
High Schools Roosevelt
Others
Acceptable Financing Cash,Conventional,FHA,VALoan
Listing Terms Cash,Conventional,FHA,VALoan