7521 N GLOUCESTER Ave N, Portland, OR 97203

• 3,892 sqft

Property Description

Rare CM2 mixed-use triplex in North Portland — all three units leased and cash-flowing from day one. This converted farmhouse offers a turnkey investment with genuine commercial flexibility in a zoning classification that's increasingly scarce.Unit 1: 1BR | hardwood floors, wood-burning fireplace, updated kitchen and bathUnit 2: 2BR | hardwood floors, built-ins, remodeled kitchen and bath with penny tile, clawfoot tub, and original hardwareUnit 3: 2BR + bonus room | new carpet, new HVAC, refreshed kitchen — ideal for residential, office, or commercial use at lease endEvery unit has basement storage. Shared backyard, deck, front porches, and coin-op laundry. Approximately 50 feet adjoining a parking lot with driveway easement potential. CM2 zoning supports wellness, medical, professional office, retail, and more — with long-term redevelopment upside within the Prosper Portland Interstate Urban Renewal Area. Under one mile to University of Portland and New Seasons. Transit lines 75 and 35.

Listing Status:

Active

Date Added:

May 15, 2026

Data Last Updated:

May 18, 2026 at 10:42PM

Listing Office:

Living Room Realty : 503-719-5588

Listing Agent:

Jessica Burke : 971-404-9673

MLS ID:

653794194

Interior

• Basement: DaylightExterior entryStorage space
• A/C: Central airWindow unit
• Heating: Forced air

Exterior

• General: Wood siding
• Parking: On streetParking spaces: 0

Construction

• Roofing: Shingle
• General: Concrete perimeter

Location

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

Lot

• Zoning: CM2PORTSMOUTH VILLA EXTDBLOCK FN 2' OF ELY 25' OF LOT 2 & ELY 85R248754
• View: View

Utilities

• Water: Public water
• Sewer: Public sewer

Financial

• Source: Regional Multiple Listing ServiceInc.