3604 SE 7th Ave, Portland, OR 97202
Local realty services provided by:Better Homes and Gardens Real Estate Equinox
3604 SE 7th Ave,Portland, OR 97202
$500,000
- - Beds
- - Baths
- 2,376 sq. ft.
- Multi-family
- Active
Listed by: angie hobson
Office: summa real estate group503-906-2606
MLS#:339184298
Source:PORTLAND
Price summary
- Price:$500,000
- Price per sq. ft.:$210.44
About this home
Value-add opportunity in SE Portland's Brooklyn neighborhood with potential for a 6-bedroom, 4-bath duplex. This vacant property offers flexibility for an investor or house hacker ready to put in the work and create long-term value. One side is largely finished with 3 bedrooms and 2 bathrooms, hardwood floors, an updated kitchen, abundant natural light and original character. Some TLC is still needed, including completion of a currently gutted bathroom. The second unit is laid out for an additional 3 bedrooms and 2 bathrooms but requires significant finishing, creating an opportunity to complete the space and generate additional rental income. Live in one side while completing the other, or finish the project and position both units for rental income. Both units are vacant, allowing a new owner to begin improvements immediately. A large 1,107 sq ft unfinished basement, not included in the stated 2,376 sq ft, provides substantial storage and possible future use, subject to buyer due diligence. With a 92 Bike Score and 79 Walk Score, plus convenient access to the MAX Orange Line, public transit and nearby parks, the location offers connectivity throughout inner SE Portland. Based on a property management company's pro forma, projected annual gross income is approximately $50,000, with approximately $20,000 in projected operating expenses and $30,000 in projected net operating income, reflecting a projected 6.67% cap rate and 9.0 gross rent multiplier. Property is currently vacant with no actual rental income or operating history. Cash or rehab financing only due to current condition. Buyer to verify square footage, permitted uses, renovation requirements, rental projections and future use possibilities. [Home Energy Score = 1. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10252548]...
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Home facts
- Year built:1949
- Subdivision & Development:BROOKLYN NEIGHBORHOOD
- Listing ID #:339184298
- Added:1 day(s) ago
- Updated:October 10, 2026 at 01:31 AM
Rooms and interior
- Basement Description:Exterior Entry, Unfinished
- Living area:2,376 sq. ft.
Heating and cooling
- Heating:Forced Air
Structure and exterior
- Roof:Composition
- Year built:1949
- Building area:2,376 sq. ft.
- Lot area:0.11 Acres
- Lot Features:Level
- Foundation Description:Concrete Perimeter
- Levels:2 Stories
Schools
- High school:Cleveland
- Middle school:Hosford
- Elementary school:Grout
Utilities
- Water:Public Water
- Sewer:Public Sewer
Finances and disclosures
- Price:$500,000
- Price per sq. ft.:$210.44
- Tax amount:$7,770 (2025)
Parking
- Total parking spaces:2
- Parking description:Driveway, On street
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