5623 N GAY AVE, Portland, OR 97217 | MLS #593159608 | Berkshire Hathaway HomeServices Real Estate Professionals
 
Listing provided courtesy of Keller Williams Realty Portland Premiere- MLS# 593159608MLS ProviderContact Information: 503-709-4632

5623 N GAY AVEPortland, OR 97217

Multi-Family · 2,557 Sq. ft.
$759,900 Active

5623 N GAY AVE Overview

Time on Site:
75 days
Visits:
0

Opportunity to acquire one side of a modern home with separate living quarters! This offering provides ~2,557 sq ft of well designed living space across three levels, delivering a functional and highly marketable layout for tenants or owner occupants seeking flexibility. Main level features a great room style design with seamless flow between kitchen, dining, and living areas, plus a convenient half bathroom for guests. Kitchen is equipped with a full size island with eat bar, stainless steel appliances, and extensive custom cabinetry, while large windows and sliding doors enhance natural light and connect to a covered deck and fully fenced yard, a key driver for livability and tenant retention. Upper level offers a 3 bedroom, 2 bathroom configuration including a primary ensuite with walk in closet and walk in shower, along with centrally located laundry for convenience. Ground level includes a highly sought after attached garage and separate living quarters with 1 bedroom, 1 full bathroom, and exterior access, currently rented and providing income from day one, creating flexibility for multigenerational use or continued supplemental rental income. Modern construction, efficient layout, and desirable features position this home for strong long term performance. Located near Arbor Lodge Park, New Seasons Market, and the dining, cafes, and retail along N Lombard St and St Johns, supporting consistent demand and long term value. Home Energy Score = 10. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10182385

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5623 N GAY AVE Facts & Features

  • Type Multi-Family
  • Sq. ft. 2,557
  • Price/Sq.ft. $297

Details

General

School Information

  • Elementary School: Beach
  • Middle Or Junior School: Ockley Green
  • High School: Jefferson

Income/Expenses

  • Gross Income: 58583.0
  • Net Operating Income: 39866.0
  • Operating Expense: 18717.0

Building Information

  • Year Built: 2020

Location/Region

  • Country: US
  • County Or Parish: Multnomah
  • MLS Area Major: 141 - Portland North
  • Subdivision Name: OVERLOOK

Rent/Lease Information

  • Rent Includes: None

Tax Information

  • Tax Annual Amount: 10697.12
  • Tax Year: 2025

General Information

  • Disclosures: Exempt
  • Listing Terms: Cash,Conventional
  • Parcel Number: R716360
  • Property Condition: Existing
  • Property Type: Multi Family
  • Zoning: R2.5

Interior

Parking Information

  • Garage Spaces: 1.0

Building Interior

  • Building Area Total: 2557.0

General Information

  • Basement: Separate Living Quarters/Apartment/Aux Living Unit
  • Cooling: Central Air
  • Foundation Details: Slab
  • Heating: Forced Air,Wall Heater
  • Security Features: Sidewalk
  • Stories: 3

Exterior

Parking Information

  • Parking Features: Driveway,Garage
  • Parking Total: 1.0

Lot Information

  • Lot Features: Level,Public Road
  • Road Surface Type: Paved
  • Water Source: Public Water

Building Exterior/Construction

  • Roof: Composition

General Information

  • Number Of Units Total: 2
  • Sewer: Public Sewer

5623 N GAY AVE Neighborhood

Community

97217 (PORTLAND) Demographics

37
Median Age
1,915
Population Density (per sq. mile)
62%
College Educated
$88,017
Estimated Median Income
8,644
Estimated Total Home Owners
6,194
Estimated Total Renters
58% / 42%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

5623 N GAY AVE Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

5623 N GAY AVE Market Data

Based on the last 30 days in this zip code

$436,098
Average List Price
$291
Average Price per Square Foot
63
Properties Sold
97
Average Days on Market
234
Properties for Sale
Calculations provided by Reliance Network

5623 N GAY AVE History

Date Event Value Agent
5/21/2026Source: Regional MLS Price Reduction
$759,900 -1.3%
4/15/2026Source: Regional MLS Added to Database
April 15, 2026