Turn-Key Multifamily Investment in Mill Park. A true opportunity to own a well-maintained, income-generating property in the desirable Mill Park neighborhood. Situated on a single tax lot, this offering includes a six-unit apartment building and a separate single-family home (blt 1938) providing both stability and versatility in one investment. The standalone home features three spacious bedrooms, two full bathrooms, and a partial basement. Each unit in the adjacent apartment building is a generously sized one-bedroom, thoughtfully designed with private decks, in-unit washer/dryers, and dedicated storage space, ensuring strong tenant appeal and retention. Located within close proximity to public transportation, schools, parks, restaurants, bakeries, and a Grocery Outlet, this property combines urban convenience with residential comfort. With low maintenance requirements, historically low turnover, and immediate cash flow, this is a truly turn-key investment in a high-demand rental market.
Active
$1,475,000
2448 SE 117th Ave, Portland, OR 97216
9beds
5,899sqft
Est.:
Multi Family
Built in 2004
-- sqft lot
$-- Zestimate®
$250/sqft
$-- HOA
What's special
Dedicated storage spacePartial basementPrivate decksSpacious bedrooms
- 73 days |
- 106 |
- 6 |
Zillow last checked: 8 hours ago
Listing updated: October 06, 2025 at 01:26am
Listed by:
David Columbus 503-504-2421,
Living Room Realty
Source: RMLS (OR),MLS#: 535479438
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 9
- Bathrooms: 8
- Full bathrooms: 8
Cooling
- None
Appliances
- Included: Dishwasher, Range, Refrigerator, Washer/Dryer, Electric Water Heater
- Laundry: Washer Dryer Hookup
Features
- Storage
- Basement: Crawl Space
Interior area
- Total structure area: 5,899
- Total interior livable area: 5,899 sqft
Property
Parking
- Total spaces: 7
- Parking features: Off Street, Paved
Features
- Stories: 3
Lot
- Size: 0.27 Acres
- Features: Level, SqFt 10000 to 14999
Details
- Parcel number: R145740
- Zoning: RM2
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Cement Siding
- Foundation: Concrete Perimeter
- Roof: Composition
Condition
- Existing
- Year built: 2004
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Security: Sidewalk
- Subdivision: Mill Park
Location
- Region: Portland
Financial & listing details
- Price per square foot: $250/sqft
- Tax assessed value: $1,357,470
- Annual tax amount: $12,750
- Date on market: 10/2/2025
- Listing terms: Cash,Conventional,Owner Will Carry
- Total actual rent: 9755
- Road surface type: Paved
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 10/2/2025 | Listed for sale | $1,475,000+195%$250/sqft |
Source: | ||
| 10/3/2024 | Listing removed | $1,290 |
Source: Zillow Rentals Report a problem | ||
| 9/23/2024 | Listed for rent | $1,290+29.6% |
Source: Zillow Rentals Report a problem | ||
| 3/24/2021 | Listing removed | -- |
Source: Owner Report a problem | ||
| 1/15/2020 | Listing removed | $995 |
Source: Owner Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $13,312 +4.4% | $550,520 +3% |
| 2024 | $12,751 +4.5% | $534,490 +3% |
| 2023 | $12,197 +5.5% | $518,930 +3% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$7,404/mo
Principal & interest
$5720
Property taxes
$1168
Home insurance
$516
Climate risks
Neighborhood: Mill Park
Nearby schools
GreatSchools rating
- 6/10Mill Park Elementary SchoolGrades: PK-5Distance: 0.4 mi
- 4/10Floyd Light Middle SchoolGrades: 6-8Distance: 1 mi
- 2/10David Douglas High SchoolGrades: 9-12Distance: 1.1 mi
Schools provided by the listing agent
- Elementary: Mill Park
- Middle: Floyd Light
- High: David Douglas
Source: RMLS (OR). This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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