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Listed by Realty One Group Prestige
$ 619,000
Est. payment /mo
New
480 NE 18TH ST Gresham, OR 97030
6 Beds
2.2 Baths
2,610 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,610 sqft
Price per Sqft $237
Subdivision North Central
MLS Listing ID 433997688
Bedrooms 6
Year Built 1978
Annual Tax Amount $6,887
Tax Year 2025
Lot Size 8,276 Sqft
Property Description
Investors, take notice! This spacious duplex offers strong rental appeal, substantial recent improvements and opportunity for future income growth with two well-sized 3-bedroom units. Both units are currently rented below their potential, creating an opportunity to increase rents and improve future cash flow. Each unit offers 3 bedrooms, 1.5 baths and 1,305 sq ft, along with a one-car garage, large fenced backyard and driveway parking for two vehicles. There is also additional space suitable for RV parking—an attractive tenant amenity. Significant capital improvements are already in place, including new high-efficiency electric furnaces, new HardiePlank siding, new windows and a new roof. One unit features new LVP flooring, while the other has new engineered hardwood flooring, reducing near-term capital improvement needs. Both units are occupied by month-to-month tenants who would like to stay, providing immediate rental income with potential to minimize turnover and leasing costs. Current rents offer room for future increases. Conveniently located near shopping, bus lines and schools, this property offers investors a compelling combination of existing income, rent-growth potential, quality improvements and long-term value-add opportunity. Whether you're looking for an investment with rent upside, or an owner-occupied opportunity with durable improvements and future value-add potential, this duplex deserves a closer look!
Location
State OR
County Multnomah
Area _144
Zoning LDR-5
Rooms
Basement Crawl Space
Interior
Heating Forced Air95 Plus
Exterior
Garage Spaces 2.0
View Territorial
Roof Type Composition
Garage No
Building
Lot Description Level
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Highland
Middle Schools Clear Creek
High Schools Gresham
Others
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
