1542 Southeast Malden Street
Portland, OR 97202
$759,000
Price
—
Beds
2,054 Sq. Ft.
$370 / Sq. Ft.
2,054
Sq. Ft.
$370
per Sq. Ft.
Description
Now is your opportunity to own an income producing triplex in the heart of Sellwood. Occupant of 18 years just moved out, giving you the chance to update to your liking and find your own renters. The main floor 2-bedroom features high ceilings and vintage details with a fantastic floorplan, an expansive front porch, quaint back porch off the kitchen for access to the spacious, fenced backyard and a slider off the bedroom to a private deck. Ultra-livable 1-bedroom upstairs units are light and bright,...Now is your opportunity to own an income producing triplex in the heart of Sellwood. Occupant of 18 years just moved out, giving you the chance to update to your liking and find your own renters. The main floor 2-bedroom features high ceilings and vintage details with a fantastic floorplan, an expansive front porch, quaint back porch off the kitchen for access to the spacious, fenced backyard and a slider off the bedroom to a private deck. Ultra-livable 1-bedroom upstairs units are light and bright, with open kitchens, ample storage and a picturesque, covered balcony for relaxing outdoors. Tall crawlspace for storage or future development. The exterior is well maintained, with cedar wood siding, some fresh paint and a newer roof. All units have double-pane vinyl windows, updated plumbing & electrical and washers/dryers. This beautiful gem draws quality long-term tenants, provides great rental income and has almost zero vacancy, plus could be an excellent owner-occupied investment. Large lot with natural landscaping provides enjoyment for nature lovers and the friendly neighborhood vibe makes this rental feel like home. You won’t find a better spot to own investment property. Just a short distance from everything Westmoreland/Sellwood has to offer, from coffee shops, restaurants, a theater, bike shops, vintage stores, gift shops and yoga studios to nearby access to the Willamette River & Oaks Bottom Wildlife Refuge. Just a short hop to OHSU and minutes from downtown Portland, Milwaukie, or Lake Oswego. The R5 zoning should allow for more units (buyer to do their own due diligence regarding density/city codes). Price just reduced, don't miss this incredible value. Please respect the tenants privacy, do not walk the property without an appointment or disturb them. Thank you.
- Listed by Brenda Gunderson • Soldera Properties, Inc
Property Details for 1542 Southeast Malden Street
Subdivision
WESTMORELAND/SELLWOOD
Parking FeaturesOn Street
ZoningR5
LISTING UPDATED: 10/16/2024 10:26 PM
Property Details for 1542 Southeast Malden Street
| Status | Active |
|---|---|
| MLS # | 24229575 |
| Days on Market | 83 |
| Taxes | $9,173 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi Family |
| Year Built | 1903 |
| Lot Size | 0.16 AC / 6,969 SF |
| County | Multnomah County |
Building Information for 1542 Southeast Malden Street
Stories2Residences3Year Built1903Building Size-Lot Size0.16 AC / 6,969 SF
Property Information for 1542 Southeast Malden Street
Summary
Location and General Information
- Country: US
- Directions: Between SE Milwaukie and SE 13th on Malden St.
- Road Surface: Paved
School Information
- Elementary School: Llewellyn
- High School: Cleveland
- Middle Or Junior School: Sellwood
Taxes and HOA
- Tax Year: 2023
- Tax Annual Amount: $9,173.05
- Parcel Number: R219305
- Tax Legal Description: MILLERS ADD, BLOCK 10, LOT 18
Virtual Tour
- Video Virtual Tour 1 URL: https://my.matterport.com/show/?brand=0&m=NRDubg2sJWL&mls=1
- Video Virtual Tour 2 URL: https://media.coreyshelton.photography/v/Y4JyHYk?b=0
Property
Lot Information
- Acres: 0.16
- Lot Description: Level
- Lot Size Square Feet: 6969.0
- Lot Size Dimension: 50 X 137
- Lot Size Range: Sq Ft5000to6999
- Lot Size: 5,000 to 6,999 Sq Ft
Property and Assessments
- Property Type: Multi Family
- Water Description: Public Water
- Property Condition: Updated Remodeled
- Year Built: 1903
Utilities
- Fuel Description: Electricity
- Heating Description: Forced Air, Wall Heater
- Hot Water Description: Electricity
- Sewer Description: Public Sewer
- Rent Includes: Sewer, Trash Collection, Water
Interior and Exterior Features
Exterior Features
- Exterior Description: Wood Siding
- Roof Type: Composition
Interior Features
- Basement: Crawl Space
- Foundation Details: Concrete Perimeter, Other
- Stories: 2
Amenities
Amenities Information
- Internet Service Type: Cable, Other
Multi Family
Multi-Family Information
- Number Of Units Total: 3
- Gross Income Actual: $56,880.00
- Gross Rent Multiplier: $13.34
- Investor Information: According To Owner, Tax Returns Available, Utility Records Available
- Net Income Actual: $39,012.00
- Operating Expense: $17,868.00
- Security Features: Entry, Security Lights, Sidewalk
- Unit Type Type: Unit Type Type1, Unit Type Type2, Unit Type Type3
- Common Amenities: All Landscaping
- SqFt Approximate Building Total: 2054
Unit 1 Information
- Unit Type 1 Baths Total: 1
- Unit Type 1 Beds Total: 1
- Unit Type 1 Features: Deck, Dishwasher, Refrigerator, Washer Dryer
- Unit Type 1 Rent: $1,295
- Unit Type 1 SqFt: 476.0
- Unit Type 1 Units Total: 1
Unit 2 Information
- Unit Type 2 Baths Total: 1
- Unit Type 2 Beds Total: 1
- Unit Type 2 Features: Deck, Dishwasher, Refrigerator, Washer Dryer
- Unit Type 2 Rent: $1,395
- Unit Type 2 SqFt: 505.0
- Unit Type 2 Units Total: 1
Unit 3 Information
- Unit Type 3 Baths Total: 1
- Unit Type 3 Beds Total: 2
- Unit Type 3 Features: Washer Dryer
- Unit Type 3 Rent: $2,050
- Unit Type 3 SqFt: 1073.0
- Unit Type 3 Units Total: 1
Schools near 1542 Southeast Malden Street
This home is within Portland School District 1j.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | K to 8 |
Rating | School | Distance |
|---|---|---|
Llewellyn Elementary School PublicK to 5 | ||
Sellwood Middle School Public6 to 8 | ||
Cleveland High School Public9 to 12 | ||
Winterhaven School PublicK to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Soldera Properties, Inc
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