Listing provided courtesy of Rarebird Real Estate- MLS# 746365810
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Request Info1408 SE 22nd AVEPortland, OR 97214
Multi-Family · 6,178 Sq. ft. | 0.23 Acres$1,250,000
Pending
1408 SE 22nd AVE Overview
- Time on Site:
- 173 days
- Visits:
- 5
This seven-unit multifamily property is located at the corner of SE 22nd and Madison in Portland's highly desirable Buckman neighborhood. Built in 1904, this classic east side building offers spacious one-bedroom units, featuring hardwood floors, gas ranges, and abundant natural light.The property includes on-site laundry, a full basement with storage, and off-street parking'rare amenities in this walkable, bike-friendly area. Positioned on a prominent 10,000+ SF corner lot, the building benefits from excellent visibility and proximity to SE Hawthorne and Belmont's retail corridors, drawing strong, stable tenant demand.Current rents range from $1,225 to $1,795/month, with a Scheduled gross income of $141,780 and a cap rate of 7.46%. Residents enjoy easy access to transit, local parks, and a vibrant food and beverage scene, all within one of Portland's top-performing rental submarkets.With strong in-place income, upside in rents, and an irreplaceable location in one of Portland's most beloved neighborhoods, this property presents a compelling opportunity for local investors seeking long-term value and reliable cash flow.
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1408 SE 22nd AVE Facts & Features
- Type Multi-Family
- Sq. ft. 6,178
- Price/Sq.ft. $202
- Lot 0.23 Acres
Details
General
School Information
- Elementary School: Sunnyside Env
- Middle Or Junior School: Sunnyside Env
- High School: Franklin
Income/Expenses
- Gross Income: 141780.0
- Gross Scheduled Income: 144786.0
- Net Operating Income: 93209.0
- Operating Expense: 48571.0
Building Information
- Year Built: 1904
Location/Region
- Country: US
- County Or Parish: Multnomah
- MLS Area Major: 143 - Portland Southeast
- Subdivision Name: Buckman
Rent/Lease Information
- Rent Includes: Electricity,Sewer,Water
Tax Information
- Tax Annual Amount: 9621.2
- Tax Year: 2025
General Information
- Listing Terms: Cash,Conventional
- Parcel Number: R264438
- Property Condition: Approximately
- Property Type: Multi Family
- Zoning: R2.5
Interior
Parking Information
- Garage Spaces: 1.0
Building Interior
- Building Area Total: 6178.0
General Information
- Basement: Full Basement
- Heating: Wall Heater
- Stories: 2
Exterior
Parking Information
- Parking Features: On Street
Lot Information
- Lot Features: Corner Lot
- Lot Size Acres: 0.23
- Lot Size Square Feet: 10018.0
- Road Surface Type: Paved
- Water Source: Public Water
Building Exterior/Construction
- Roof: Other
General Information
- Number Of Units Total: 7
- Sewer: Public Sewer
1408 SE 22nd AVE Neighborhood
Community
97214 (Portland) Demographics
36
Median Age
9,926
Population Density (per sq. mile)
69%
College Educated
$74,871
Estimated Median Income
4,343
Estimated Total Home Owners
9,709
Estimated Total Renters
31% / 69%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
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.1408 SE 22nd AVE Monthly Cost
1408 SE 22nd AVE Market Data
Based on the last 30 days in this zip code
$703,130
Average List Price
$336
Average Price per Square Foot
22
Properties Sold
56
Average Days on Market
69
Properties for Sale
1408 SE 22nd AVE History
| Date | Value | Agent |
|---|---|---|
| 3/5/2026Source: Regional MLS | Pending |
|
| 1/27/2026Source: Regional MLS | $1,250,000 -3.5% |
|
| 1/7/2026Source: Regional MLS | January 07, 2026 |