8410 Se 21ST Ave, Portland, OR 97202

• 3,309 sqft

Property Description

Exceptional Sellwood/Moreland 5-Plex with Rare Development Potential. An incredible opportunity in one of Portland’s most desirable rental markets. This well-maintained, income-producing 5-plex sits on an oversized RM1-zoned lot, offering multiple paths for both immediate and long-term upside. One unit is currently vacant and undergoing renovation, providing an ideal option for an owner-occupant or for leasing at full market rent. The unfinished basement offers a clear value-add opportunity, with a layout well-suited for conversion into a 6th dwelling unit (buyer to verify), potentially increasing annual income by more than 20%. The spacious lot and RM1 zoning open the door to future redevelopment, with potential to add up to 10 new units under current code (buyer to verify). Investors and developers alike will appreciate the rare combination of strong in-place income and significant expansion potential within this high-demand, walkable neighborhood. Recent exterior upgrades include fresh paint (August 2025) reinforced fire escapes, low-maintenance landscaping, featuring open grassy areas and outdoor spaces enjoyed by tenants. Close to parks, schools, boutique shops, and public transit, this property stands out as a prime candidate for portfolio growth or redevelopment in the heart of Sellwood/Moreland. Please do not disturb tenants. All offers subject to interior inspection.

Listing Status:

Active

Date Added:

September 9, 2025 at 05:00AM

Listing Office:

Redfin : 503-496-7620

Listing Agent:

Jason Maycumber : 503-805-9197

MLS ID:

389001689

Interior

• Basement: Full basementStorage spaceUnfinished
• Heating: Wall furnace

Exterior

• General: Lap sidingWood siding
• Parking: PavedParking spaces: 3

Construction

• Roofing: Composition

Location

• Road/Access: Paved
• Originating MLS: Regional Multiple Listing ServiceInc.
• County: Multnomah

Lot

• Zoning: R2SELLWOODBLOCK 106LOT 12&13R268008

Utilities

• Water: Public water
• Sewer: Public sewer

Financial

• Source: Regional Multiple Listing ServiceInc.

This listing courtesy of Jason Maycumber, Redfin