2337 SE 48TH AVE, Portland, OR 97215

  • $1,150,000

Overview

  • 3.0
    Car Garage
  • 5760 Sqft
    Property Size
  • 1972
    Year Built
  • MultiFamily
    Property Type
  • 526215412
    MLS#
  • 0.34 Acres
    Land Area
  • ELEETE Real Estate
    Office Name
  • Lee Davies
    Agent Name

Description

Rare six-unit plex in inner Southeast Portland, consisting of three side-by-side duplex buildings on a 15,000 SF lot. Each 2-bed/1-bath garden-style flat is approximately 960 SF and lives larger than typical SE rentals, with in-unit washer/dryers, dishwashers, full appliance packages, and off-street parking including three attached garage spaces plus three paved driveway spaces.For investors, the property is 100% occupied with a long-standing tenant base, professional management, and stabilized income in the Southeast Portland submarket. Current scheduled rents (with increases set for August 2026) and recent financials show strong cash flow and an appraised “Market Value As Is” of $1,150,000 ($192,000 per unit), supported by both income and sales comparison approaches. Zoning R2.5 allows duplex, triplex, fourplex and other multi-dwelling structures, offering long-term flexibility in a dense, walkable neighborhood.For residential or “house-hack” buyers, Carolina offers the chance to live in one spacious 2-bed unit and offset housing costs with steady income from the other five units. Residents enjoy a quiet, tree-lined street near SE Division, SE 50th and SE Hawthorne, with quick access to TriMet, neighborhood cafes, Safeway, Eastport Plaza, and Providence Portland Medical Center—making this both a comfortable place to call home and a durable, income-producing asset in one of Portland’s most desirable close-in eastside locations.

Details

Updated on September 9, 2026 at 11:25 pm
  • MLS# 526215412
  • Price $1,150,000
  • Property Size 5760 Sqft
  • Land Area 0.34 Acres
  • Car Garage 3.0
  • Garage Size x x
  • Year Built 1972
  • Property Type MultiFamily
  • Property Status Active
  • Office Name ELEETE Real Estate
  • Agent Name Lee Davies
  • Office Phone 503-292-1500

Additional details

  • Listing Terms Cash, Conventional, FHA
  • Roof Shingle
  • Sewer Public Sewer
  • Cooling None
  • Heating Baseboard
  • County Multnomah
  • Property Type MultiFamily
  • Parking Attached, Paved
  • Elementary School Glencoe
  • Middle School Mt Tabor
  • High School Franklin

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