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2422 NE Glisan St
Portland, OR 97232 Kerns

$1,395,000 USD

Apartments For Sale  •  4,100 SF

Property Details

  • Property Type Apartments
  • Total Building Size 4,100 SF
  • Lot Size 0.1 AC
  • Building Class C
  • Year Built 1913
  • Cap Rate 5.51 %
  • Zoning RM2
65 Transit Score
97 Walk Score

Highlights

FOUR UNITS PLUS A BONUS UNIT (5 TOTAL)
TURNKEY CONFIDENCE A complete modern renovation means little-to-no "deferred maintenance" or immediate capital expenditures for a new owner.
VINTAGE SOUL Retains the high ceilings and "Old Portland" architectural curb appeal that high-quality tenants seek out.
MODERN INTERIORS Updated with quartz countertops, stainless steel appliances, and in-unit laundry— features that command premium rents.
SAFETY IMPROVEMENTS The building features fire sprinklers and it was seismically retrofitted to ensure the long-term safety of its tenants.
SCALABLE INVESTMENT A 4-unit configuration offers increased diversification and cash flow stability within a single tax lot.

Property Flyers

Cap Rate: 5.51 %

Amenities

  • Air Conditioning
  • Dishwasher
  • Washer/Dryer
  • Kitchen
  • Refrigerator
  • Oven

Public Transportation

Commuter RailDriveWalkDistance
Portland (Amtrak Cascades - Amtrak, Coast Starlight - Amtrak, Empire Builder - Amtrak) 8 min - 2.2 mi
Vancouver (Amtrak Cascades - Amtrak, Coast Starlight - Amtrak, Empire Builder - Amtrak) 20 min - 9.8 mi
Transit/SubwayDriveWalkDistance
Lloyd Center/Ne 11Th (MAX Blue Line - Tri-County Metropolitan Transportation District of Oregon Rail (TriMet Rail), MAX Green Line - Tri-County Metropolitan Transportation District of Oregon Rail (TriMet Rail), MAX Red Line - Tri-County Metropolitan Transportation District of Oregon Rail (TriMet Rail)) 3 min 18 min 0.9 mi
AirportDriveWalkDistance
Portland International 18 min - 7.0 mi
Jordan Carter 503-720-8147 Kidder Mathews
Jordan Carter 503-720-8147 Kidder Mathews