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Listed by Redfin
$ 995,000
Est. payment /mo
Price Dropped by $24K
8410 SE 21ST AVE Portland, OR 97202
3,309 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,309 sqft
Price per Sqft $300
Subdivision Sellwood-Moreland
MLS Listing ID 389001689
Year Built 1909
Annual Tax Amount $11,512
Tax Year 2025
Lot Size 10,018 Sqft
Property Description
Exceptional Sellwood/Moreland 5-Plex with Rare Development Potential. An incredible opportunity in one of Portland's most desirable rental markets. This well-maintained, income-producing 5-plex sits on an oversized RM1-zoned lot, offering multiple paths for both immediate and long-term upside. One unit is currently vacant and undergoing renovation, providing an ideal option for an owner-occupant or for leasing at full market rent. The unfinished basement offers a clear value-add opportunity, with a layout well-suited for conversion into a 6th dwelling unit (buyer to verify), potentially increasing annual income by more than 20%. The spacious lot and RM1 zoning open the door to future redevelopment, with potential to add up to 10 new units under current code (buyer to verify). Investors and developers alike will appreciate the rare combination of strong in-place income and significant expansion potential within this high-demand, walkable neighborhood. Recent exterior upgrades include fresh paint (August 2025) reinforced fire escapes, low-maintenance landscaping, featuring open grassy areas and outdoor spaces enjoyed by tenants. Close to parks, schools, boutique shops, and public transit, this property stands out as a prime candidate for portfolio growth or redevelopment in the heart of Sellwood/Moreland. Please do not disturb tenants. All offers subject to interior inspection.
Location
State OR
County Multnomah
Area _143
Zoning R2
Rooms
Basement Full Basement, Storage Space, Unfinished
Interior
Heating Wall Furnace
Exterior
Roof Type Composition
Garage No
Building
Lot Description Corner Lot, Level
Story 2
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Duniway
Middle Schools Sellwood
High Schools Cleveland
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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