Two-unit investment property offering immediate rental income. Both units occupied under current leases. Each unit features 2 bedrooms, 1 bath, washer-dryer hookups, private backyard, and attached garage. Located near schools, parks, transit, and shopping. Very low turnover.Unit 935 was recently updated (Aug 2026) with new exterior fence, fresh paint, new carpet, and new kitchen flooring and countertops. Newer range hood and stove (2024) and disposal (2025) Unit 933 was updated prior to current tenants, additionally new range hood (2024) and new dishwasher (2025).Sale subject to interior inspection with accepted offer. Please do not disturb tenants. drive-by only.
Hogan Cedars, located between SE Stark St and SE Division St, is a residential and suburban Gresham neighborhood with tree-lined streets and a low-key, everyday pace. The neighborhood’s character concentrates around the SE 242nd Ave and SE Stark St crossroads, where small storefronts, service counters, and commuter traffic set a practical tone. Housing reads as late-20th-century ranches and split-levels with tidy yards, backed by pockets of evergreens. Side streets feel quiet, while nearby arterials keep errands straightforward. Mt. Hood Community College adds a steady campus rhythm, and Gresham Station frames the area with big-day shopping and transit connections.
Provided by Walk Score and Local Logic
Offer insights
933 SE Rene Ave · $499,000
$499K and above
75% chance or better to win
Why $499K+ is a strong offer
DAYS ON MARKET
149 days
The average home goes pending in 51 days.
SALE-TO-LIST
97.9%
Most homes are selling 2% below list price.
About offer insights
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Crawl space basement
Garage storage
Bedrooms
Two 2-bedroom units (each unit has 2 bedrooms)
Bathrooms
Each unit has 1 bathroom
Kitchen
Each unit includes a dishwasher, disposal, range and refrigerator
Laundry & utility
Electric hot water
Heating & cooling
Baseboard heating
No central cooling
Exterior features
Stone and T-111 siding exterior
Level lot
Paved road access
Home design
Multi-family property
Not attached to other structures
Existing condition
Parking
Garage and off-street parking
2-car garage
Construction
Built in 1978
Composition roof
Concrete perimeter foundation
Utilities
Public water
Public sewer
Electric service
HOA & community
Zoned MDR12
Financial info
Two total units
Unit 1 rent: $1,530
Unit 2 rent: $1,695
Gross building area: 1,786
Cap rate: 6.11
Gross rent multiplier: 12.58
Rent includes water
Other
Parcel: R253608
Electricity and solar
View estimated energy costs and solar savings for this home
As the MLS and public records start to fill up, we'll list the details here.
Public record
Public record
Zoning
Beds
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Baths
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Stories
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Lot width
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Lot depth
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Lot size
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Year renovated
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Finished Sq. Ft.
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Unfinished Sq. Ft.
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Total Sq. Ft.
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Year built
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Style
Multi-Family (2-4 Unit)
County
Multnomah County
APN
R253608
Parking Spaces
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Basement
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Accessible
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HOA Dues
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Garage
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Features
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Last updated by owner on May 19, 2026.
MDR-12
Moderate Density Residential-12 District
The Moderate Density Residential District-12 is primarily intended for housing at a maximum net density for single detached dwellings of 12.1 units per acre, manufactured dwelling parks at a maximum net density of 8.71 units per acre, and townhouses at a maximum net density of 25 units per acre. Manufactured dwelling parks shall be designed in conformance with standards and procedures of the Oregon Department of Consumer and Business Services, Building Codes Division as contained in Oregon Administrative Rules Chapter 918 Div. 600. Where standards of OAR 918-600 conflict with the following standards, the more restrictive standard shall apply.
Permitted uses
Include but are not limited to:
Housing-Multiple units
Housing-Other
Infrastructure-Other
Housing-Mobile home park
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 92° expected this year, 16 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
9/10 Air Factor
14 unhealthy days expected this year, 16 days in 30 years
Provided by First Street
Historical weather
Gresham, OR • 97080
Average low and high temperatures (°F)
47
35
49
36
57
42
64
42
70
47
76
51
83
55
83
58
76
54
63
46
52
42
49
40
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
91/ 100
Exceptional sunlight
Sunscore
This home ranks in the top 27% for direct sun exposure in Gresham. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10.5 hrs
4.9 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 933 SE Rene Ave
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $445,000 and $504,900.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $445K to $505K.