Welcome to the Stratton-Cornelius House! Zoned RM4 High-density multi-dwelling, (recently changed from RH). Currently used as a duplex. The lower floor is partially finished and could be converted to a third unit. Own a piece of Portland history listed on the National Historic Register with the ability to fully rent, live in and partially rent, or fully live in, with great options to open a business or home office. A one of a kind investment property in a perfect location- at the base of the West Hills just steps away from Forest Park, Rose Gardens, Timbers Stadium, and NW 23rd Ave. With a rare two-car garage, roof garden above, this grand Painted Lady has soaring ceilings, ornate woodwork, Victorian details, five grand fireplaces, and more! This historic asset is currently being rented, generating $103,200 annually with $34,595 in expenses, putting the NOI at $68,605, and the CAP rate of 4.1. With room to raise rents in the future and tenants willing to vacate on sale or renew leases. This is a high occupancy Portland location and a dream property. Walk to everything! Just blocks to bus and train. Bike or walk your dog to Washington and Forest Parks, Rose and Japanese Gardens, and Wildwood Trail. It’s a stone's throw to Providence Park and Powells Books. Built by 19th-century craftsmen, it has magnificent old-growth woodwork, Povey stained glass, and historic fixtures. Ideal property with home offices with long or short term rentals.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
