1. Oregon
2. Portland
3. 1115 N Beech St

1115 N Beech St, Portland, OR 97227

• 3,146 sqft

Property Description

POTENTIALLY TWO ASSETS: The duplex alone is valued at $650K-$700K. With current rents, the CAP RATE is over 6%! Split the lot & sell (valued at $250K-$300K) for instant equity conversion, or develop separately. This is a true TURN-KEY investment in the hot N Mississippi Neighborhood. Owner Occupant Buyers can enjoy the huge, private lot now & unlock the development opportunities later. Updated systems throughout are an owner/tenant win-win: Updated kitchens & baths, double-pane windows & efficient mini-split HVAC for heating and cooling = happy tenants year-round. Excellent rental history, and low-turnover for the last 20+ years. Each unit has 3 bedrooms + 1 bath. Exterior entry into the basement (w/ 7-ft ceilings) could be explored as TRIPLEX potential. 2 blocks west of a thriving, diverse commercial district, containing event spaces, shopping, dining and services. 2 blocks south of a Pedestrian Bridge that crosses into Overlook - MAX line, more parks, dining, etc. Easy access in all directions to parks, libraries, transit & freeways. 9 min drive to Downtown PDX. Currently a 9,000 SF corner lot with alley access = INCREDIBLE DEVELOPMENT POTENTIAL up to 9 UNITS! Check out Lot/Land listing #317438603. Builder's Packet available upon request. Buyer to do their due diligence. Tenant Occupied -- PLEASE DO NOT DISTURB.

Listing Status:

Active

Date Added:

June 24, 2025 at 05:00AM

Listing Office:

Realty Works Group : 503-975-1829

Listing Agent:

E. Wren Shiffler : 503-358-6648

MLS ID:

190351402

Interior

• Basement: Full basement
• A/C: Mini split
• Heating: DuctlessMini splitWall heater
• Eco/Green Feature: Added wall insulationDouble pane windowsEnergystar qualified appliancesInsulationand ceiling insulationMini split

Exterior

Construction

Location

Lot

Utilities

Financial

This listing courtesy of E. Wren Shiffler, Realty Works Group