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About the Listing KWSC01 - FICKERBE
This seven-unit multifamily property is located at the corner of SE 22nd and Madison in Portland’s highly desirable Buckman neighborhood. Built in 1904, this classic eastside building offers spacious one-bedroom units, each approximately 600 square feet, featuring hardwood floors, gas ranges, and abundant natural light.The property includes on-site laundry, a full basement with storage, and off-street parking—rare amenities in this walkable, bike-friendly area. Positioned on a prominent 10,000+ SF corner lot, the building benefits from excellent visibility and proximity to SE Hawthorne and Belmont’s retail corridors, drawing strong, stable tenant demand.Current rents range from $1,225 to $1,795/month, with a projected gross income of $145,236 and a cap rate of 5.67%. Residents enjoy easy access to transit, local parks, and a vibrant food and beverage scene, all within one of Portland’s top-performing rental submarkets.With strong in-place income, upside in rents, and an irreplaceable location in one of Portland’s most beloved neighborhoods, this property presents a compelling opportunity for local investors seeking long-term value and reliable cash flow.
Listing Highlights
Status
Active
Days on Site
149
Property Type
Multi-Family
MLS ®
309652379
Year Built
1904
Total Square Footage
6,178
Lot/Acreage
0.23
Interior Details
- Bedrooms: 7
- Bathrooms: 7 Full
- Appliances:
- Air Cond:
- Heating: WallHeater
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Full Basement
- Other:
- Water: Public Water
Exterior Details
- Lot Description: Corner Lot
- Garage Capacity: 1 car
- Zoning: R2.5
- Roof: Other
- Others: Approximately
- Sewer: Public Sewer
- Parking Features: On Street
Financial Details
- Tax Amount: $9,275
- Taxes w/Assessments: N/A
- Tax/Property ID: R264438
- Tax Year: N/A
Payment Calculator
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Questions About..
1408 SE 22nd Ave Portland, OR 97214
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