2522 NE MULTNOMAH ST

Portland, OR 97232

Charming NE Portland duplex in the heart of the Multnomah/Lloyd District, offering both steady cash flow and an easy place to call home. Two spacious 3-bed/2-bath townhome-style units (approx. 1,200 sq. ft. each) feature in-unit washer/dryer, dishwasher, full kitchens, and functional layouts that live like single-family homes. Six off-street paved parking spaces and a level 3,924 sq. ft. R2.5 lot provide rare convenience and future flexibility in a close-in location.Investors will appreciate the 100% occupancy, stable tenant base, and “as-is” leased fee valuation of $400,000, supported by professional appraisal, in a submarket with strong incomes and ongoing demand for multifamily housing. With no known deferred major capital items and average overall condition, this is a straightforward hold with room to push rents over time.Owner-occupants and house-hackers can live in one 3-bedroom unit and offset expenses with rent from the other, all while enjoying quick access to I-84, TriMet, Lloyd Center, Fred Meyer, Providence Medical Center, and downtown Portland. The walkable, amenity-rich neighborhood, city utilities, and legal conforming zoning that allows duplex, triplex, fourplex, and multi-dwelling structures make this a rare opportunity to own versatile housing in a prime close-in location.

Listing courtesy of Lee Davies of ELEETE Real Estate (503) 468-4018



The content relating to real estate for sale on this website comes in part from the IDX program of the RMLS™ of Portland, Oregon. Real estate listings held by brokerage firms other than ELEETE Real Estate are marked with the RMLS™ logo, and detailed information about these properties includes the names of the listing brokers. Listing content is Copyright © 2026 RMLS™, Portland, Oregon. Some properties which appear for sale on this website may subsequently have sold or may no longer be available.

Last checked 2026-09-29 12:06 PM PDT.

All information provided is deemed reliable but is not guaranteed and should be independently verified