501 Se 157th Ave, Portland, Oregon 97233

OR, Portland
$599,900
  • 0.48 Acre
  • MultiFamily Property Type
  • 1947 Year Built
  • Active Status
Steven Meyer
Steven Meyer Realtyna
  • (302) 525 8222
  • Steven.m@realtyna.net
  • 200 Continental Drive, Suite 401, Newark, DE 19713 USA
Property Description

Fantastic tri-plex opportunity with exceptional flexibility and income potential! Situated in the Centennial neighborhood on a rare, dividable 0.48-acre lot zoned RM1, this property offers a unique blend of current cash flow and future development possibilities. Each of the three units features 2 bedrooms and 1 bathroom, with updates completed to varying degrees. Units are equipped with central air conditioning, in-unit washers and dryers, electric or gas ranges, and free-standing refrigerators for tenant convenience. Unit 505 showcases wood flooring, black appliances, a cozy fireplace with brick surround, and a stackable washer and dryer. Unit 511 offers distinctive Spanish tile in the kitchen, stainless steel appliances, gas cooking, a carpeted living room with a woodstove, a full-size washer and dryer, and a relaxing soaking tub. Unit 513, located on the lower level, features laminate wood flooring, white appliances, a built-in microwave, and a soaking tub. Residents enjoy access to shared outdoor spaces complete with a covered back patio, raised garden beds, and an inviting outdoor fireplace. The expansive, level backyard provides ample room for gardening, recreation, or future expansion. Additional highlights include two rentable garages for added income and driveway parking for at least six vehicles. Whether you’re looking to subdivide and build, maintain as an income-producing property, or create a multi-generational living compound, this property offers endless possibilities in a prime location.

Basic Details
  • Property Type: MultiFamily
  • Listing Type: For Sale
  • Listing ID: 785509330
  • Price: $599,900
  • Year Built: 1947
  • Lot Area: 0.48 Acre
  • Roof: Composition
  • Office Name: Windermere Realty Trust
  • Agent Name: Jeff Capen
  • Contact By: 503-888-5191
  • Office Phone: 503-284-7755
  • Listing Status: Active
Features
  • Heating System Forced Air
  • Cooling System Central Air
  • Parking Garage,Open
  • Sewer Public Sewer
Address Map
  • Country US
  • State OR
  • County Multnomah
  • City Portland
  • Zipcode 97233
  • Street: 157TH
  • Street Number: 501
  • Street Suffix: AVE
  • Longitude: W123° 29' 52.7''
  • Latitude: N45° 31' 7.2''
  • Mls Area Major: _143
  • Street Dir Prefix: SE
  • Zoning: RM1
Neighborhood
  • Elementary School: Parklane
  • High School: Centennial
  • Middle School: Oliver
Additional Information
  • Building Size: 3503
  • Community Features: All Landscaping,Central Air,Commons
  • Garage: 2.0
  • Lot Features: Level
  • Number Of Units Total: 3
  • On Market Date: 2026-04-01
  • Rent Includes: None
  • Stories: 2
  • Water Source: Public Water
Listing Information
  • Co List Agent Full Name: Kira Dennison
  • Co List Office Name: Windermere Realty Trust
  • Listing Term: Cash, Conventional
  • Mls Status: Active
  • Modification Timestamp: 2026-04-05T07:12:10Z
  • Originating System Name: RMLS
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Last updated on 04/05/2026 12:09