Seller financing available:Call Agent for more info. Exceptional location! Walkability 10/10. Very low utility costs. Charming, single-level building. Each unit has a great layout and a home-like feeling. Wood floors throughout. Excellent tenants in place. Easy to rent. Low turnover rate. Wallace Park is across the street. Walk to restaurants, coffee, shops, grocery stores, schools and hospital. Unfinished basement with 1296 sq ft w/ much potential for additional storage units and more! Zoned R2 - may allow up to 3+ stories. Please do not disturb tenants. Interior viewing of units is subject to accepted offer. Sellers are licensed OR real estate brokers. Listing Agent is a member of LLC ownership of this property. Call Listing Agent for more info.
Northwest District, located between Burnside Street and Forest Park, is a historic and walkable Portland neighborhood with tree-lined blocks and a strong café-and-boutique street scene. NW 23rd Avenue and NW Lovejoy Street concentrates the neighborhood’s character, where sidewalk patios, indie shops, and small galleries keep the sidewalks busy. Community pillars include Powell’s City of Books, Cinema 21, and the Portland Japanese Garden. Early-1900s apartment buildings and restored Victorians mix with contemporary infill along quiet, leafy streets. Forest Park trailheads and Washington Park’s cultural campuses shape daily routines as much as the dining rooms. Streetcar stops and bike routes stitch the district to downtown and the Pearl.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Basement storage
Full unfinished basement
Security lights
Bedrooms
Five 1-bedroom units
One studio/efficiency unit (no separate bedroom)
Bathrooms
Each unit has 1 bathroom
Kitchen
Range
Refrigerator
Laundry & utility
Hot water: electric
Flooring
Wood floors (in units)
Heating & cooling
Forced air heating
Window unit cooling
Exterior features
Composition roof
Level lot
Paved road frontage
On busline
Other exterior description
Home design
Multi-family property
Detached
Built in 1941
Concrete perimeter foundation
Zoned R2
Parking
On-street parking
Security
Security lights
Construction
Composition roof
Concrete perimeter foundation
Originally built in 1941
Utilities
Public water
Public sewer
Gas fuel
Financial info
Six total units
Five 1-bed units (approx. 509 sq ft each) and one smaller unit (approx. 400 sq ft)
Actual rents reported: $1,290 for 1-bed units, $1,125 for the smaller unit
Rent includes maintenance of grounds, sewer, trash collection, and water
Cap rate reported at 5.24
Gross rent multiplier reported at 14.25
Electricity and solar
View estimated energy costs and solar savings for this home
Build to suit. Alphabet District - historical NW Neighborhood. Current building has full-heigh basement, perfect for tuck-under garage! Possibilities are endless. Can't beat the location! Walk to the popular NW 23rd street, Wallace Park or Downtown. No need to drive anywhere. Everything is within walking distance. Call Agent for more info. Please don't disturb tenants.
RMLS #185985486
Apr 6, 2026
Listed
$1,295,000
RMLS #22539666
Oct 3, 2022
Sold
$1,275,000
Aug 26, 2022
Pending
—
Aug 25, 2022
Listed
$1,200,000
Phenomenal 6 plex exuding charm in Portland's Alphabet District. Wood floors & built-ins compliment fabulous floor plan. Steps to Wallace Park and NW 23rd's shops & restaurants. Impeccably maintained with too many updates to list here. A+ location. Walk Score of 98! Bike Score of 95! On site laundry and each unit has lockable storage.
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.
Permitted uses
Include but are not limited to:
Housing
Housing-Group
Housing-Single unit
Housing-Multiple units
Housing-Senior
Apr 15, 2004 • Final
Electrical
Install a new electrical service and additional circuits.
Electrical
Feb 7, 2002 • Final
Electrical
Electrical
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.
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
8 days above 92° expected this year, 16 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
10/10 Air Factor
19 unhealthy days expected this year, 20 days in 30 years
Provided by First Street
Historical weather
Portland, OR • 97210
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Sun exposure
Try the sun simulator tool to see how light moves across the property at different times of day and year.
Provided by Shadowmap
Redfin Estimate for 2475 NW Raleigh St
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