8410 SE 21ST AVE, Portland, OR 97202
8410 SE 21ST AVE, Portland, OR 97202
8410 SE 21ST AVE, Portland, OR 97202
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Listed by Redfin
$930,000
Est. payment /mo
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3,309 SqFt
Price Dropped by $40K

8410 SE 21ST AVE Portland, OR 97202

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Donna Jo Merrifield

Donna Jo Merrifield

+1(541) 981-1436

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,309 sqft

Price per Sqft $281

Subdivision Sellwood-Moreland

MLS Listing ID 389001689

Year Built 1909

Annual Tax Amount $11,512

Tax Year 2025

Lot Size 10,018 Sqft

Property Description

Exceptional Sellwood/Moreland 5-Plex with Rare Development Potential. An incredible opportunity in one of Portland's most desirable rental markets. This well-maintained, income-producing 5-plex sits on an oversized RM1-zoned lot, offering multiple paths for both immediate and long-term upside. The unfinished basement offers a strong value-add opportunity, with a layout well-suited for conversion into a 6th dwelling unit (buyer to verify), potentially increasing annual income by more than 20%. The spacious lot and RM1 zoning open the door to future redevelopment, with potential to add up to 10 new units under current code (buyer to verify). Investors and developers alike will appreciate the rare combination of strong in-place income and significant expansion potential within this high-demand, walkable neighborhood. Recent exterior upgrades include fresh paint (August 2025) reinforced fire escapes, low-maintenance landscaping, featuring open grassy areas and outdoor spaces enjoyed by tenants. Close to parks, schools, boutique shops, and public transit, this property stands out as a prime candidate for portfolio growth or redevelopment in the heart of Sellwood/Moreland. Please do not disturb tenants. All offers subject to interior inspection.

Location

State OR

County Multnomah

Area _143

Zoning R2

Rooms

Basement Full Basement, Storage Space, Unfinished

Interior

Heating Wall Furnace

Exterior

Roof Type Composition

Garage No

Building

Lot Description Corner Lot, Level

Story 2

Sewer Public Sewer

Water Public Water

Level or Stories 2

Schools

Elementary Schools Duniway

Middle Schools Sellwood

High Schools Cleveland

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Regional Multiple Listing Service (RMLS)

NEARBY SCHOOL & BUSINESS

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Donna Jo Merrifield

Donna Jo Merrifield

Principal Broker, South/Central OR Area Leader, Dream & Key Group Team Leader | License ID: 971200102

+1(541) 981-1436

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8410 SE 21ST AVE