5305 Rodney AvePortland, OR 97211

For Sale
$949,999

Charming Triplex, High ROI Potential

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional Portland, Oregon multifamily investment property presents a unique opportunity. Located at 5305-7 NE Rodney Ave, this charming triplex boasts 3 units within two buildings, offering a compelling value-add proposition. The property features 3,299 square feet of net rentable space, spread across a 0.11-acre lot, and includes 5 parking spaces (2 in a detached garage with a wood-burning stove and pellet stove). Built in 1909 and extensively renovated in 2009, the property showcases stunning woodwork, granite countertops, custom cabinetry, and tasteful designer touches throughout. Each unit benefits from updated wiring and plumbing. The property's layout includes a discreet lower unit with separate exterior access, ideal for a guest house, caregiver suite, or workspace. The upper units can be combined or remain separate. Outdoor amenities include a fenced backyard with an outdoor kitchen, nook, and brick rotisserie BBQ. The property is zoned R-2.5, allowing for the potential addition of two Accessory Dwelling Units (ADUs), further enhancing its investment potential. A finished attic offers additional space for offices or living areas. The asking price is $949,999, representing a $316,666.33 price per unit and a 5.00% cap rate. A Matterport 3D virtual tour and floor plans are available. This is a rare opportunity to acquire a well-maintained, high-potential multifamily property in a desirable Portland location.

Highlights

  • $949,999 asking price for this value-add, three-unit apartment building in Portland, Oregon.
  • 3,299 square feet of net rentable space, with a price per square foot of $318.
  • 5% cap rate.
  • Three units, priced at $316,666.33 per unit.
  • Built in 1909, renovated in 2009, featuring two buildings and four stories.
  • Located on a 0.11-acre lot with R-2.5 zoning, offering five parking spaces.

Property Details for 5305 Rodney Ave

Property type
Other specialty properties, Multifamily properties
Square Feet
3,299 SF
Class
B
Year Built/Renovated
1909/2009
Buildings
2
Stories
4
Lot Size (sq. ft)
4,792 SF
Units
3

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.561787
Longitude
-122.665095
5305 Rodney Ave, Portland, Oregon

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5305 Rodney Ave
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