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About the Listing RFIN01 - MAYCUMBE
Exceptional Sellwood/Moreland 5-Plex with Rare Development Potential. An incredible opportunity in one of Portland’s most desirable rental markets. This well-maintained, income-producing 5-plex sits on an oversized RM1-zoned lot, offering multiple paths for both immediate and long-term upside. One unit is currently vacant and undergoing renovation, providing an ideal option for an owner-occupant or for leasing at full market rent. The unfinished basement offers a clear value-add opportunity, with a layout well-suited for conversion into a 6th dwelling unit (buyer to verify), potentially increasing annual income by more than 20%. The spacious lot and RM1 zoning open the door to future redevelopment, with potential to add up to 10 new units under current code (buyer to verify). Investors and developers alike will appreciate the rare combination of strong in-place income and significant expansion potential within this high-demand, walkable neighborhood. Recent exterior upgrades include fresh paint (August 2025) reinforced fire escapes, low-maintenance landscaping, featuring open grassy areas and outdoor spaces enjoyed by tenants. Close to parks, schools, boutique shops, and public transit, this property stands out as a prime candidate for portfolio growth or redevelopment in the heart of Sellwood/Moreland. Please do not disturb tenants. All offers subject to interior inspection.
Listing Highlights
Status
Active
Days on Site
81
Property Type
Multi-Family
MLS ®
389001689
Year Built
1909
Total Square Footage
3,309
Lot/Acreage
0.23
County
Multnomah
Neighborhood
Sellwood-Moreland
Elementary School
Duniway
Middle School
Sellwood
High School
Cleveland
Interior Details
- Bedrooms: 5
- Bathrooms: 5 Full
- Appliances:
- Air Cond:
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Full Basement,Storage Space,Unfinished
- Other:
- Water: Public Water
Exterior Details
- Lot Description: Corner Lot,Level
- Garage Capacity: N/A
- Parking Spaces: 3
- Zoning: R2
- Roof: Composition
- Others: Existing
- Sewer: Public Sewer
- Parking Features: Paved
Financial Details
- Tax Amount: $11,512
- Taxes w/Assessments: N/A
- Tax/Property ID: R268008
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Years
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Questions About..
8410 SE 21st Ave Portland, OR 97202
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