5305 Rodney AvePortland, OR 97211

Property Details for 5305 Rodney Ave

Year built

1909

Lot size

0.11 AC

Property size (Sq ft)

3,299 SF

Property type

Specialty properties

Property subtype

Apartment buildings

Description

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.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5618

Longitude

-122.665

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