1408 SE 22nd Ave, Portland, OR 97214

This seven-unit multifamily property is located at the corner of SE 22nd and Madison in Portland’s highly desirable Buckman neighborhood. Built in 1904, this classic eastside building offers spacious one-bedroom units, each approximately 600 square feet, featuring hardwood floors, gas ranges, and abundant natural light.

The property includes on-site laundry, a full basement with storage, and off-street parking—rare amenities in this walkable, bike-friendly area. Positioned on a prominent 10,000+ SF corner lot, the building benefits from excellent visibility and proximity to SE Hawthorne and Belmont’s retail corridors, drawing strong, stable tenant demand. Current rents range from $1,225 to $1,795/month, with a projected gross income of $145,236 and a cap rate of 5.67%.

Residents enjoy easy access to transit, local parks, and a vibrant food and beverage scene, all within one of Portland’s top-performing rental submarkets. With strong in-place income, upside in rents, and an irreplaceable location in one of Portland’s most beloved neighborhoods, this property presents a compelling opportunity for local investors seeking long-term value and reliable cash flow.