2821 SE 115th Ave, Portland, OR 97266
Local realty services provided by:Knipe Realty ERA Powered
Listed by: kelly asmus
Office: berkshire hathaway homeservices nw real estate503-907-2280
MLS#:742261598
Source:PORTLAND
Price summary
- Price:$619,950
- Price per sq. ft.:$337.3
About this home
Beautifully remodeled and incredibly versatile, this rare half-acre property features two separate single-level residences with outstanding income and future development potential. The main home offers 3 beds and 1 bath with a remodeled kitchen, updated finishes, comfortable one-level living and A/C. The detached ADU includes 2 beds and 1 bath, remodeled and move-in ready — ideal for rental income, multigenerational living, guest quarters or owner-occupancy with supplemental income. Both homes include fridges and w/ds, making this a truly turnkey opportunity for homeowners and investors alike. Strong existing rental performance with rentometer.com est average rents of approx. $2,167/month for the 3-bed and $1,615/month for the 2-bed ADU creates immediate income potential. BONUS: The 1/2 lot creates additional possibilities rarely found in Portland. The rear portion of the property may allow space for an additional detached ADU, while the full site offers exciting future redevelopment potential for middle housing or cluster home development with potential for up to 16 units. Whether you're looking for an investment opportunity, flexible living arrangement, or long-term development upside, this property offers exceptional potential in a rapidly evolving area of SE Portland. Large usable lot, multiple living spaces, income potential and future flexibility all in one unique property. Property includes a 50 amp exterior outlet for tiny home or RV. Lot may be divided into a minimum of 3 lots. Both units will be vacant at close. Buyer to verify zoning, density and feasibility with the City of Portland. Quiet street, conveniently located in SE Portland with easy access to I-205, Division Street, shopping, restaurants, parks and public transportation. Close to everyday amenities while still offering the privacy and flexibility of a rare half-acre property. DOM is not accurate. Property was withdrawn for 3 weeks to make a repair, back active. [Home Energy Score = 7. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10239200]...
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Home facts
- Year built:1942
- Subdivision & Development:POWELLHURST
- Listing ID #:742261598
- Added:89 day(s) ago
- Updated:August 11, 2026 at 07:52 AM
Rooms and interior
- Bedrooms:5
- Total bathrooms:2
- Full bathrooms:2
- Kitchen Description:Built In Oven, Cooktop, Dishwasher, Disposal, Free Standing Refrigerator, Plumbed For Icemaker, Quartz, Stainless Steel Appliance
- Basement Description:Crawl Space
- Living area:1,838 sq. ft.
Heating and cooling
- Cooling:Central Air
- Heating:Forced Air
Structure and exterior
- Roof:Composition
- Year built:1942
- Building area:1,838 sq. ft.
- Lot area:0.53 Acres
- Lot Features:Level
- Architectural Style:1 Story, Cottage
- Exterior Features:Covered Deck, Covered Patio, Outbuilding, Patio, Porch, Public Road, RV Hookup, RV Parking, Second Residence, Tool Shed, Yard
- Foundation Description:Concrete Perimeter
- Levels:1 Story
Schools
- High school:David Douglas
- Middle school:Ron Russell
- Elementary school:W Powellhurst
Utilities
- Water:Public Water
- Sewer:Public Sewer
Finances and disclosures
- Price:$619,950
- Price per sq. ft.:$337.3
- Tax amount:$5,622 (2025)
Features and amenities
- Laundry features:Washer/Dryer
- Amenities:Double Pane Window(s), Laminate Flooring, Laundry
Parking
- Parking description:Driveway, RV Access Parking
All information provided is deemed reliable but is not guaranteed and should be independently verified. The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland Oregon. Real estate listings held by brokerage firms other than Knipe Realty ERA Powered are marked with the RMLS logo and detailed information about these properties includes the names of the listing brokers. Copyright 2026 RMLS, Portland, Oregon. Last updated: August 11, 2026New listings near 2821 SE 115th Ave
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