2337 Se 48TH Ave, Portland, OR 97215

• 5,760 sqft

Property Description

Rare six-unit plex in inner Southeast Portland, consisting of three side-by-side duplex buildings on a 15,000 SF lot. Each 2-bed/1-bath garden-style flat is approximately 960 SF and lives larger than typical SE rentals, with in-unit washer/dryers, dishwashers, full appliance packages, and off-street parking including three attached garage spaces plus three paved driveway spaces.For investors, the property is 100% occupied with a long-standing tenant base, professional management, and stabilized income in the Southeast Portland submarket. Current scheduled rents (with increases set for August 2026) and recent financials show strong cash flow and an appraised “Market Value As Is” of $1,150,000 ($192,000 per unit), supported by both income and sales comparison approaches. Zoning R2.5 allows duplex, triplex, fourplex and other multi-dwelling structures, offering long-term flexibility in a dense, walkable neighborhood.For residential or “house-hack” buyers, Carolina offers the chance to live in one spacious 2-bed unit and offset housing costs with steady income from the other five units. Residents enjoy a quiet, tree-lined street near SE Division, SE 50th and SE Hawthorne, with quick access to TriMet, neighborhood cafes, Safeway, Eastport Plaza, and Providence Portland Medical Center—making this both a comfortable place to call home and a durable, income-producing asset in one of Portland’s most desirable close-in eastside locations.

Listing Status:

Active

Date Added:

August 14, 2026

Data Last Updated:

September 13, 2026 at 7:50AM

Listing Office:

ELEETE Real Estate : 503-292-1500

Listing Agent:

Lee Davies : 503-468-4018

MLS ID:

526215412

Interior

• Basement: Crawl space
• A/C: None
• Heating: Baseboard

Exterior

• General: Wood siding
• Parking: AttachedPavedParking spaces: 6

Construction

• Roofing: Shingle
• General: Slab

Location

• Road/Access: Paved
• Originating MLS: Regional Multiple Listing ServiceInc.
• County: Multnomah

Lot

• Zoning: R25DIVISION ST ADDBLOCK 5LOT 4-6R147168
• View: View

Utilities

• Water: Public water
• Sewer: Public sewer

Financial

• Source: Regional Multiple Listing ServiceInc.