1542 SE Malden St, Portland, OR 97202

Now is your opportunity to own an income producing triplex in the heart of Sellwood. Occupant of 18 years just moved out, giving you the chance to update to your liking and find your own renters. The main floor 2-bedroom features high ceilings and vintage details with a fantastic floorplan, an expansive front porch, quaint back porch off the kitchen for access to the spacious, fenced backyard and a slider off the bedroom to a private deck. Ultra-livable 1-bedroom upstairs units are light and bright, with open kitchens, ample storage and a picturesque, covered balcony for relaxing outdoors. Tall crawlspace for storage or future development. The exterior is well maintained, with cedar wood siding, some fresh paint and a newer roof. All units have double-pane vinyl windows, updated plumbing & electrical and washers/dryers. This beautiful gem draws quality long-term tenants, provides great rental income and has almost zero vacancy, plus could be an excellent owner-occupied investment. Large lot with natural landscaping provides enjoyment for nature lovers and the friendly neighborhood vibe makes this rental feel like home. You won’t find a better spot to own investment property. Just a short distance from everything Westmoreland/Sellwood has to offer, from coffee shops, restaurants, a theater, bike shops, vintage stores, gift shops and yoga studios to nearby access to the Willamette River & Oaks Bottom Wildlife Refuge. Just a short hop to OHSU and minutes from downtown Portland, Milwaukie, or Lake Oswego. The R5 zoning should allow for more units (buyer to do their own due diligence regarding density/city codes). Price just reduced, don't miss this incredible value. Please respect the tenants privacy, do not walk the property without an appointment or disturb them. Thank you.