Kevin Morris Realty Portland
Veterans United Homefront
15 Photos

136 Se 97TH Ave, Portland, OR 97216

$379,000 Asking Price

3 beds
2 baths
1,049  sqft
Built in 1979

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.

Listing Status:
Active
Date Added:
August 27, 2024 — 72 days ago
Listing Office:
MORE Realty, Alejandro Contreras-Peraza (503-779-9377)
Office Phone:
503-353-6673
MLS ID:
24456797

Features & Amenities

Interior

General:
Laminate flooring, Washer dryer
Appliances:
Disposal, Free standing range, Range hood, Stainless steel appliance
Basement:
Crawl space
A/C:
None
Heating:
Wall heater, Wood stove
Fireplace:
Wood burning, Fireplace, Fireplaces: 1
Disability Feature:
Garageon main, One level, Parking, Utility room on main, Walkin shower
Eco/Green Feature:
Double pane windows

Exterior

General:
T 111 siding, Fenced, Yard
Style:
Stories 1, Ranch
Parking:
Driveway, Parking pad, Parking spaces: 2

Construction

Roofing:
Composition
Windows:
DoublePaneWindows,VinylFrames

Location

Road/Access:
Paved
Originating MLS:
Regional Multiple Listing Service, Inc.
County:
Multnomah

Lot

Zoning:
EXD, PRUNEDALE ADD, BLOCK 10, LOT 13&14, R250832

Utilities

Water:
Public Water
Sewer:
Public Sewer

Financial

Source:
Regional Multiple Listing Service, Inc.

This listing courtesy of:
MORE Realty, Alejandro Contreras-Peraza

About Portland, OR

Housing

Number of Units
428,822
Median Home Value
$473,531
Median Rent
$1,251

43.72% of housing units are renter occupied.

5.89% are vacant.

Commute

Car
46.63%
Public Transportation
6.64%
Walk to Work
3.11%
Work from Home
40.47%
Other
0.60%

The median travel time to work is 17 minutes.

People

Population
933,432
Median Age
38.50
Median Household Size
2.55

Education

High School
15.24%
Associate’s Degree
6.78%
Bachelor’s Degree
30.17%
Graduate Degree
20.64%

Disclaimer: Community and Demographic information uses data from the U.S. Census Bureau but is not endorsed or certified by the Census Bureau.

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Veterans United Homefront

Kevin Morris Realty Portland 10260 SW Greenburg Rd, Portland OR 97223 - (503) 805-5686

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