Address
2337 Se 48th Ave, Portland, OR
Price
$ 1,150,000
Property Attributes
- MLS#526215412
- TypeMulti-Family
- Listing Status Active
- CountyMULTNOMAH
- CityPortland
- Area143
- NeighborhoodRichmond
- Zip97215
- Style
- Year Built1972
- Taxes$ 16017
- Price$ 1,150,000
- Bedrooms2
- Full Bathrooms1
- Half Bathrooms0
- Sqr Footage5760
- Lot Size0.34 Acres
Data Source:
Regional Multiple Listing Service (RMLSOR)
Property 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.
| Elementary School | Middle School | High School |
|---|---|---|
| Glencoe Elementary School | Mt Tabor Middle School | Franklin High School |
| Price History | |
|---|---|
| 8/14/2026 | Listed $1,150,000 |
General Features
| Sewer | PublicSewer |
|---|---|
| Heating | Baseboard |
| Cooling | None |
| Roof | Shingle |
| Zoning | R25 |
| Garage Spaces | 3.0 |
| Security Features | None |
| Year Built | 1972 |
| Stories Count | 1 |
| Tax Year | 2025 |
| Parcel Number | R147168 |
| County | Multnomah |
| Property Type | MultiFamily |
| HOA | No |
| Subdivision Name | Richmond |
| Rent Includes | Sewer,TrashCollection,Water |
| Status | Active |
| Directions | SE Belmont St / South |
| High School | Franklin |
| City | Portland |
| Disclosures | Exempt |
| Number Of Units Total | 6 |
| MLS Area | _143 |
| Lot Size Square Feet | 14810.0 |
| Listing Terms | Cash,Conventional,FHA |
| Elementary School | Glencoe |
| Tax Annual Amount | 16017.67 |
| Middle/Junior High School | Mt Tabor |
| Standard Status | Active |
| Accessory Dwelling Unit Y/N | No |
| ViewDescription | Territorial |
| Legal Description | DIVISION ST ADD,BLOCK 5,LOT 4-6 |
Interior Features
| Basement | CrawlSpace |
|---|---|
| Storage | Garage |
| Hot Water | Electricity |
| UnitType1ActualRent | 1410 |
| Unit 1 Baths Total | 1 |
| Unit 1 Beds Total | 2 |
| UnitType1Features | Dishwasher,Range,Refrigerator,WasherDryer |
| UnitType1UnitsTotal | 6 |
| FuelDescription | Electricity |
| Unit Type | UnitTypeType1 |
Exterior Features
| Parking Features | Attached,Paved |
|---|---|
| Lot Features | Level |
| Water Source | PublicWater |
| Total Parking | 6.0 |
| Exterior Description | WoodSiding |
| Foundation Details | Slab |
| Building Area Total | 5760.0 |
| Lot Size Acres | 0.34 |
| Road Surface Type | Paved |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 97215
Price
Taxes
Year Built
Visits
All information provided is deemed reliable but is not guaranteed and should be independently verified. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by RMLSTM.
The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLSTM of Portland, Oregon. Real estate listings held by brokerage firms other than Lake Oswego are marked with the RMLSTM logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2026 RMLSTM, Portland, Oregon.
This content last updated on September 26, 2026 4:46 PM UTC at 4 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Based on information from Willamette Valley Multiple Listing Service, which neither guarantees nor is in any way responsible for its accuracy. All data is provided AS IS and with all faults. Data maintained by Willamette Valley Multiple Listing Service may not reflect all real estate activity in the market. Copyright © 2026 WVMLS. All Rights Reserved. Information last updated on September 26, 2026 5:09 PM UTC
