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Listed by ELEETE Real Estate
$610,000
Est. payment /mo
3,416 SqFt
Pending
7015 NE GLISAN ST Portland, OR 97213
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Key Details
Property Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 3,416 sqft
Price per Sqft $178
Subdivision Montavilla
MLS Listing ID 478813794
HOA Y/N No
Year Built 1953
Annual Tax Amount $5,591
Tax Year 2025
Lot Size 10,018 Sqft
Property Description
7015–7017 NE Glisan Street, the “70th Glisan Plex,” is a pair of garden-style duplexes offering four 2-bedroom units on a 0.23-acre CM-2-zoned corner lot in Southeast Portland. Each unit is approximately 854 square feet with in-unit laundry and full appliance packages, and the property is currently 100% occupied with long-term tenants, supporting a stabilized income stream and a concluded “as-is” leased-fee value of $610,000.Recent operating statements show consistent collections and strong net operating income from scheduled rents around $4,995 per month in 2026, with historical performance in 2024–2025 in a similar band despite one-time repairs and capital items. The buildings are considered Class C in average overall condition, with six paved off-street parking spaces and typical utilities, in a walkable location near transit, retail, and employment centers within the Southeast Portland multifamily submarket. Investors benefit from legally conforming CM-2 commercial/mixed-use zoning that allows a range of future uses—including additional multifamily or mixed-use redevelopment—while the current four-unit configuration continues to cash flow in a low-vacancy, rent-growth market.
Location
State OR
County Multnomah
Area _142
Zoning CM-2
Rooms
Basement Unfinished
Interior
Heating Forced Air
Cooling Window Unit
Exterior
View Territorial
Roof Type Composition,Shingle
Garage No
Building
Lot Description Level, Public Road
Story 1
Foundation Slab
Sewer Public Sewer
Water Public Water
Level or Stories 1
Schools
Elementary Schools Vestal
Middle Schools Harrison Park
High Schools Leodis Mcdaniel
Others
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
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