48
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$675,000
Est. payment /mo
1,543 SqFt
Active
8535 SW OLESON RD Portland, OR 97223
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,543 sqft
Price per Sqft $437
MLS Listing ID 498935192
Year Built 1940
Annual Tax Amount $4,584
Tax Year 2024
Lot Size 0.290 Acres
Property Description
Dual-Dwelling Retreat Near Washington Square – Investor's Gem! A rare opportunity featuring two charming homes on one tax lot, nestled among majestic fir trees just moments from Washington Square Mall. This serene, wooded setting offers the perfect blend of privacy and convenience, making it feel like a peaceful retreat in the heart of the city. Property Highlights include: Two updated cottages with timeless character and modern upgrades. Main house: 2 spacious bedrooms, 1 full bath, restored original hardwood floors, cozy gas fireplace, and a beautifully renovated kitchen and bath with new appliances. Second house: 2 bedrooms, 1 bath — recently updated and ideal for guests, extended family, or rental income. Energy-efficient upgrades including a brand-new tankless water heater for year-round comfort. Potential to subdivide the lot and add additional units (buyer to verify). Investment Potential: Estimated rental income: $4,000+/month. At a 5% cap rate, this property supports an $800,000 valuation. Current pricing reflects a 6.3% cap rate — a rare find in today's market! Whether you're seeking a tranquil home with income potential or a high-performing investment in a prime location, this property delivers. Buyers are encouraged to conduct their own due diligence.
Location
State OR
County Washington
Area _148
Zoning R-5
Rooms
Basement None
Interior
Heating Forced Air, Zoned
Exterior
View Trees Woods
Roof Type Composition
Garage No
Building
Lot Description Level
Story 1
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 1
Schools
Elementary Schools Mckay
Middle Schools Whitford
High Schools Beaverton
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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