136 SE 97th Ave Portland, OR 97216
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.
- Property TypeSingle Family Home
- NeighborhoodN/A
- CountyMultnomah
- Taxes$4,038
- HOA/Condo/Coop Fees$0
- Days on Site35 Days
- MLS StatusActive
- MLS ID Number24456797
- Home Size Source N/A
- Year Built1979
- Lot Size0.12 Acres
- Full Baths2
- Partial BathsN/A
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General Features
- Style Stories1Ranch
- Lot Description LevelPasture
- Sewer Public Sewer
- Water Public
- Parking Spaces 2
- Parking Features DrivewayParking Pad
- Attached Garage Yes
- Garage Spaces 2
Interior Features
- Heating Wall HeaterWood Stove
- Cooling None
- Fireplace Wood Burning
- Basement Crawl Space
- Interior Features Laminate FlooringWasher Dryer
- Kitchen Appliances DisposalFree Standing RangeRange HoodStainless Steel Appliance
- Stories 1
Exterior Features
- Waterfront Other
- Parking DrivewayParking Pad
- Exterior FencedYard
- Roof Type Composition