Property Description

Turnkey SE Portland income property with a private permitted ADU (2020), a 10.8?? GRM, and $51,000 in projected gross annual rent - both units vacant and ready for your tenants on day one. Unit A is a 720 SF one-level 1953 bungalow that lives far larger than its footprint. Solid oak hardwood floors run throughout, a newer heat pump mini-split HVAC keeps things comfortable year-round, and a new dishwasher and newer 6 ft cedar privacy fence complete the recent upgrades. Fully fenced front and back yards give tenants outdoor space that commands top-of-market rents. Projected at $2,400/month. Unit B is where this property really shines. Built in 2020 and fully permitted, this 288 SF tiny home ADU is accessed via a private entrance off the back alley - completely separate from the main house. Vaulted ceilings and generous natural light make it feel open and airy well beyond its square footage. It's fully appointed with in-unit stack laundry, a range/oven, and microwave- the kind of amenities that attract, quality tenants. A separate electric meter, fully fenced private yard, and gated off-street parking complete the picture. Strong rental history at $1,850/month speaks for itself. Combined gross rent of $4,250/month. GRM of 10.8??. A permitted ADU that would cost six figures to replicate today. This is a rare opportunity to acquire a fully upgraded, income-producing Portland property without the usual value-add risk. Located in Woodstock/Mt. Scott-Arleta - walkable to Woodstock Park, minutes from Reed College, and close to the restaurants and shops and new food trucks at The Heist. Arleta School and Franklin High School attendance area.