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About the Listing EXPL05 - LBARR
ASSUMABLE Option @ 3.4%. Rare opportunity to acquire a 5-unit multifamily property in the Montavilla neighborhood of NE Portland. 623–629 NE 74th Ave offers a compelling combination of location, charm, and long-term investment potential that continues to draw strong interest.Situated on an 9,500 SF (0.22-acre) lot, this well-maintained asset features a desirable mix of 1-bedroom and 2-bedroom units, along with on-site laundry, owner storage, and off-street parking—features that support strong rental retention and operational efficiency.The property is stabilized with long-standing tenants, providing immediate income, while offering clear value-add upside through interior improvements and rent optimization. This is a solid, well-located property suited for a skilled investor or portfolio buyer seeking to enhance value over time.Located in a high-demand rental area with easy access to neighborhood amenities, public transportation, schools, and major routes throughout NE Portland. Properties of this size and quality are rarely available in this submarket.Seller is a Licensed Real Estate Agent in Oregon and Trustee to the property. [Home Energy Score = 4. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10242612]
Listing Highlights
Status
Active
Days on Site
93
Property Type
Multi-Family
MLS ®
707682250
Year Built
1961
Total Square Footage
2,688
Lot/Acreage
N/A
Interior Details
- Bedrooms: 7
- Bathrooms: 5 Full
- Appliances:
- Air Cond:
- Heating: Baseboard
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public Water
Exterior Details
- Lot Description: Level
- Garage Capacity: N/A
- Parking Spaces: 5
- Zoning: R2.5
- Roof: Composition
- Others: Existing
- Sewer: Public Sewer
- Parking Features: Assigned,Off Street
Financial Details
- Tax Amount: $9,853
- Taxes w/Assessments: N/A
- Tax/Property ID: R119381
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Questions About..
623 NE 74th Ave Portland, OR 97213
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