Portland, OR 97218,5871 NE PRESCOTT ST
Portland, OR 97218,5871 NE PRESCOTT ST
Portland, OR 97218,5871 NE PRESCOTT ST
Portland, OR 97218,5871 NE PRESCOTT ST
Portland, OR 97218,5871 NE PRESCOTT ST
Portland, OR 97218,5871 NE PRESCOTT ST
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Matt Willcuts

Matt Willcuts

+1(503) 807-8008
Listed by Keller Williams Realty Portland Premiere • 503-709-4632
$ 799,900
Est. payment | /mo

2,565 SqFt

Save Virtual Tour
$ 799,900
Est. payment | /mo
Save Virtual Tour

2,565 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,565 sqft

Price per Sqft $311

Subdivision Cully

MLS Listing ID 771192738

Year Built 2024

Annual Tax Amount $12,574

Tax Year 2025

Property Description

Offered as a stabilized multifamily portfolio, this opportunity includes three townhome-style condo units located at 5857 NE Prescott St in Portland, within the desirable Cully neighborhood. The property consists of newer-construction homes with consistent, efficient layouts designed for strong long-term rental performance. Each unit offers approximately 855 square feet with 2 bedrooms and 1.1 bathrooms, featuring an open great room concept on the main level and a single ensuite bathroom upstairs. One unit is street-facing, while the remaining two units are set behind a secured gate, providing an added layer of privacy, security, and peace of mind that is attractive to long-term tenants. The homes showcase modern architecture and elevated design that resonates with today's renters, including light-filled interiors, fireplaces anchoring the living spaces, private back patios, and fenced yard areas that enhance livability and tenant retention. Energy-efficient mini-split systems provide year-round heating and cooling, aligning with tenant expectations while supporting operational efficiency. The location continues to perform well as a rental market, offering close proximity to neighborhood restaurants, coffee shops, retail, parks, and convenient access throughout Northeast Portland. Strong walkability and bike access further support sustained tenant demand. All units are currently tenant-occupied with stabilized market rents ranging from $1,775 to $2,175 per month, providing immediate in-place income. There is a modest homeowners association of $40 per month plus water. Income figures are per seller-provided rent roll, with certain expenses estimated. Buyer to perform all due diligence regarding financials, operating expenses, and projected rental cash flow. This portfolio presents a clean, low-maintenance opportunity to bolster an investment portfolio with modern construction, desirable unit mix, and stabilized revenue in a proven Northeast Portland location.

Location

State OR

County Multnomah

Area _142

Zoning CM2

Rooms

Basement Crawl Space

Interior

Heating Mini Split

Cooling Heat Pump, Mini Split

Exterior

View Trees Woods

Roof Type Composition

Garage No

Building

Lot Description Level

Story 2

Foundation Concrete Perimeter, Slab

Sewer Public Sewer

Water Public Water

Level or Stories 2

Schools

Elementary Schools Rigler

Middle Schools Beaumont

High Schools Leodis Mcdaniel

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://youtu.be/kxgmMYNLHz4

Regional Multiple Listing Service (RMLS)
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5871 NE PRESCOTT ST