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The Broker Network, LLC

info@tbnrealty.com +1(503) 465-5077

Listed by ELEETE Real Estate

$ 450,000

Est. payment | -/mo

2,590 SqFt

Save

$ 450,000

Est. payment | -/mo

Save

2,590 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,590 sqft

Price per Sqft $173

Subdivision Montavilla

MLS Listing ID 624916735

HOA Y/N No

Year Built 1966

Annual Tax Amount $7,772

Tax Year 2025

Lot Size 6,969 Sqft

Property Description

621–625 NE 75th Ave is a well-located, single-story triplex in the heart of Portland's Montavilla neighborhood, offering investors a rare combination of stability, simplicity, and upside in a highly rentable submarket. The property consists of three generously sized 2-bedroom, 1-bath units totaling 2,590 square feet of living area on a 6,800 square foot lot, with efficient floor plans that appeal to a broad tenant base of young professionals, small families, and long-term renters who value neighborhood convenience and access to transit.Professionally managed for many years, the asset is currently 100% occupied with a history of strong collections and long-term tenancy, creating reliable in-place income from day one for the next owner. Existing rents are already competitive for the area, yet scheduled increases effective August 1, 2026 will lift total monthly income to approximately $4,050, enhancing cash flow without requiring immediate capital improvements. Historical financials from 2024–2026 show consistent net operating income in the low– to mid–$20,000 range annually, demonstrating durable performance through varying operating conditions and leaving room for further optimization as rents step up and expenses are fine-tuned.Located in Montavilla—one of Portland's established inner Eastside neighborhoods—the property benefits from strong renter demand, convenient proximity to I-84 and major transit routes, and easy access to local cafés, shops, and parks, all of which support low vacancy and ongoing rentability. With its straightforward 2-bed/1-bath unit mix, stable operations, and built-in income growth, 621–625 NE 75th Ave presents an attractive opportunity for both first-time multifamily buyers and seasoned investors seeking a low-maintenance, cash-flowing asset in a desirable Portland location.

Location

State OR

County Multnomah

Area _143

Zoning R25

Rooms

Basement Crawl Space

Interior

Heating Radiant

Cooling Window Unit

Exterior

View Territorial

Roof Type Shingle

Garage No

Building

Lot Description Level

Story 1

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public Water

Level or Stories 1

Schools

Elementary Schools Vestal

Middle Schools Harrison Park

High Schools Leodis Mcdaniel

Others

Acceptable Financing Cash, Conventional, FHA

Listing Terms Cash, Conventional, FHA

Regional Multiple Listing Service (RMLS)

Nearby Locations

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+1(503) 465-5077

info@tbnrealty.com

320 N Main Ave #213, Gresham, Oregon 97030, USA

621 NE 75TH AVE Portland, OR 97213