Fantastic value add multifamily property. Close in location boasts Six units, 4-2 bed 1 bath and 1 bed 1 bath. The potential is endless! Lots of space to improve and rent for top dollar. All units are currently rented! Won't last long! Units are rented for lower than market value. Expenses include property taxes and management.
Multi-familyProperty Type
1966Year Built
$125Price/Sq.Ft.
6 spacesParking
Listed by Nick Krautter, P.C..• Keller Williams PDX Central
Listed by Ben Droukas• Keller Williams PDX Central
Bought with Tony Ngo• Real Estate Performance Group
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Permits
Beds
12
Baths
6
Stories
1
Lot width
—
Lot depth
—
Lot size
10,000 Sq. Ft.
Year renovated
1966
Sq. Ft.
2,992
Year built
1966
Style
Other
County
Multnomah County
APN
R161864
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 15, 2026.
RM1
H
Residential Multi-Dwelling 1 Zone
The RM1 zone is a low-scale multi-dwelling zone that is generally applied in locations intended to provide a transition in scale to single-dwelling residential areas, such as the edges of mixed-use centers and civic corridors, and along or near neighborhood corridors. Allowed housing is characterized by one to three story buildings that relate to the patterns of residential neighborhoods, but at a somewhat larger scale and building coverage than allowed in the single-dwelling zones. The major types of new development will be duplexes, triplexes, rowhouses, courtyard housing, small apartment buildings, and other relatively small-scale multi-dwelling and small-lot housing types that are compatible with the characteristics of Portland's residential neighborhoods.
Zone overlays
Aircraft Landing Zone
Permitted uses
Include but are not limited to:
Housing
Housing-Group
Housing-Single unit
Housing-Multiple units
Housing-Senior
Jun 5, 2012 • Final
Housing
Remodel
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Property details
Parking
Parking Information
Parking Features: Open
Parking Total: 6
Interior
Appliances
Hot Water Description: Electricity
Interior Features
Storage: Basement
Basement: Crawl Space
Exterior
Exterior Features
Roof: Composition
Exterior Description: Plywood, T-111 Siding
Lot Information
Lot Size Range: 10,000 to 14,999 SqFt
Lot Size: 10,000 to 14,999 SqFt
Lot Features: Sloped
Parcel Number: R161864
Property Information
Property Type: Multi Family
Property Attached YN: No
Property Condition: Approximately
View YN: No
Building Information
Year Built: 1966
Building Area Total: 5,984
Foundation Details: Slab
Financial
Tax Information
Tax Legal Description: FAUBION PK, LOT 6&7 TL 3500
Tax Annual Amount: $4,815.47
Rent Information
Rent Includes: Sewer, Trash Collection, Water
Lease / Rent Information
CAP Rate: 5.53
Gross Rent Multiplier: 11.98
Utilities
Utility Information
Green Certification YN: No
Fuel Description: Electricity
Water Source: Public Water
Sewer: Public Sewer
Heating & Cooling
Heating YN: Yes
Heating: Forced Air
Cooling YN: No
Location
Multi Unit Information
# Of Units Total: 6
Unit Information
Unit Type: 1, 2, 3
Unit Type 1 Information
Actual Rent: $995
Area: 748
Baths Total: 1
Beds Total: 2
Features: Range, Refrigerator
Units Total: 2
Unit Type 2 Information
Actual Rent: $825
Area: 660
BathsTotal: 1
Beds Total: 1
Features: Range, Refrigerator
Units Total: 2
Unit Type 3 Information
Actual Rent: $960
Area: 748
Baths Total: 1
Beds Total: 2
Features: Range, Refrigerator
Units Total: 2
School Information
Elementary School: Faubion
High School: Madison
Location Information
Directions: South on 22nd from Lombard, left on Morgan
Unparsed Address: 2427 NE MORGAN ST, Portland, OR 97211
Community Information
Zoning: R2
Public facts
Beds: 12
Baths: 6.0
Sq. Ft.: 2,992
Stories: 1.0
Lot Size: 10,000 square feet
Style: Other
Year Built: 1966
Year Renovated: 1966
County: Multnomah County
APN: R161864
Home facts updated by county records on Jul 15, 2026
Other
Listing Information
MlsStatus: Sold
Listing Price Information
Price Type: List Price
Around this home
Schools
Faubion Elementary School
Public PreK-8 • Assigned • 0.4mi
6/10
Jefferson High School
Public 9-12 • Assigned • 1.8mi
5/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
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, 14 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
10/10 Air Factor
20 unhealthy days expected this year, 21 days in 30 years
Provided by First Street
Historical weather
Portland, OR • 97211
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42
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Sun exposure
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