Log In/Sign Up
Your email has been sent.
5623 N Gay Ave
Portland, OR 97217
Multifamily Property For Sale
·
2 Units
Investment Highlights
- Opportunity to acquire one side of a modern duplex with lower separate living quarters
- Ideal setup for multigenerational living or supplemental rental income
- Located near Arbor Lodge Park, New Seasons Market, and dining, cafés, and retail along N Lombard St and St. Johns
- Approx. 2,557 sq ft of well-designed living space across three levels
- Desirable location supports consistent demand and long-term value
- Covered deck and fully fenced yard enhance livability and tenant appeal
Executive Summary
Opportunity to acquire one side of a modern home with separate living quarters! This offering provides ~2,557 sq ft of well designed living space across three levels, delivering a functional and highly marketable layout for tenants or owner occupants seeking flexibility. Main level features a great room style design with seamless flow between kitchen, dining, and living areas, plus a convenient half bathroom for guests. Kitchen is equipped with a full size island with eat bar, stainless steel appliances, and extensive custom cabinetry, while large windows and sliding doors enhance natural light and connect to a covered deck and fully fenced yard, a key driver for livability and tenant retention. Upper level offers a 3 bedroom, 2 bathroom configuration including a primary ensuite with walk in closet and walk in shower, along with centrally located laundry for convenience. Ground level includes a highly sought after attached garage and separate living quarters with 1 bedroom, 1 full bathroom, and exterior access, currently rented and providing income from day one, creating flexibility for multigenerational use or continued supplemental rental income. Modern construction, efficient layout, and desirable features position this home for strong long term performance. Located near Arbor Lodge Park, New Seasons Market, and the dining, cafes, and retail along N Lombard St and St Johns, supporting consistent demand and long term value.
Property Facts
| Price Per Unit | $532,598 CAD | Apartment Style | Townhome |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 5.18% | Building Size | 2,557 SF |
| Gross Rent Multiplier | 13.14 | Average Occupancy | 50% |
| No. Units | 2 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2020 |
| Property Subtype | Apartment | Parking Ratio | 0.78/1,000 SF |
| Zoning | R2.5 | ||
| Price Per Unit | $532,598 CAD |
| Sale Type | Investment |
| Cap Rate | 5.18% |
| Gross Rent Multiplier | 13.14 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Building Size | 2,557 SF |
| Average Occupancy | 50% |
| No. Stories | 3 |
| Year Built | 2020 |
| Parking Ratio | 0.78/1,000 SF |
| Zoning | R2.5 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Washer/Dryer Hookup
- Heating
- Kitchen
- Ice Maker
- Stainless Steel Appliances
- Range
- Yard
- Dining Room
- Double Pane Windows
- Island Kitchen
- Lawn
- Porch
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2.5 | 1 | $4,683 CAD | 2,557 |
| 1+1 | 1 | $1,972 CAD | 595 |
Property Taxes
| Parcel Number | R168289 | Improvements Assessment | $549,269 CAD |
| Land Assessment | $0 CAD | Total Assessment | $549,269 CAD |
Property Taxes
Parcel Number
R168289
Land Assessment
$0 CAD
Improvements Assessment
$549,269 CAD
Total Assessment
$549,269 CAD
1 of 76
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
