7
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Listed by ELEETE Real Estate
$450,000
Est. payment /mo
2,590 SqFt
New
621 NE 75TH AVE Portland, OR 97213
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,590 sqft
Price per Sqft $173
Subdivision Montavilla
MLS Listing ID 624916735
HOA Y/N No
Year Built 1966
Annual Tax Amount $7,772
Tax Year 2025
Lot Size 6,969 Sqft
Property Description
621–625 NE 75th Ave is a well-located, single-story triplex in the heart of Portland's Montavilla neighborhood, offering investors a rare combination of stability, simplicity, and upside in a highly rentable submarket. The property consists of three generously sized 2-bedroom, 1-bath units totaling 2,590 square feet of living area on a 6,800 square foot lot, with efficient floor plans that appeal to a broad tenant base of young professionals, small families, and long-term renters who value neighborhood convenience and access to transit.Professionally managed for many years, the asset is currently 100% occupied with a history of strong collections and long-term tenancy, creating reliable in-place income from day one for the next owner. Existing rents are already competitive for the area, yet scheduled increases effective August 1, 2026 will lift total monthly income to approximately $4,050, enhancing cash flow without requiring immediate capital improvements. Historical financials from 2024–2026 show consistent net operating income in the low– to mid–$20,000 range annually, demonstrating durable performance through varying operating conditions and leaving room for further optimization as rents step up and expenses are fine-tuned.Located in Montavilla—one of Portland's established inner Eastside neighborhoods—the property benefits from strong renter demand, convenient proximity to I-84 and major transit routes, and easy access to local cafés, shops, and parks, all of which support low vacancy and ongoing rentability. With its straightforward 2-bed/1-bath unit mix, stable operations, and built-in income growth, 621–625 NE 75th Ave presents an attractive opportunity for both first-time multifamily buyers and seasoned investors seeking a low-maintenance, cash-flowing asset in a desirable Portland location.
Location
State OR
County Multnomah
Area _143
Zoning R25
Rooms
Basement Crawl Space
Interior
Heating Radiant
Cooling Window Unit
Exterior
View Territorial
Roof Type Shingle
Garage No
Building
Lot Description Level
Story 1
Foundation Concrete Perimeter
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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