SOLD! Exploring the Sale of 3624 SE 66th Ave - a Fantastic Foster-Powell Triplex Investment

Nestled in Portland’s vibrant Foster-Powell neighborhood, a remarkable opportunity recently unfolded at 3624 SE 66th Ave — a one-level, fully rented triplex that has just changed hands. This closed sale by Andy Harris and Foris Real Estate marks the transition of a well-maintained property with promising potential and a strategic location.

Property Highlights:

This triplex is a rare gem, featuring three fully rented units, each boasting its own outdoor space and storage closets. The front parking pad accommodates up to six cars, a valuable asset in any urban setting.

The property sits on an expansive 8,000 square foot double lot, zoned RM1, opening doors to future income opportunities and potential development. The forward-thinking investor can explore upside possibilities with this strategically located triplex.

Location and Accessibility:

The triplex’s location is a standout feature, earning an impressive 81 walk score and a perfect 100 bike score. Accessibility is at its prime, with close proximity to public transportation and I-5. Residents enjoy the convenience of nearby shopping, diverse restaurants, coffee shops, and the scenic beauty of Mt. Tabor. This strategic positioning ensures not only a steady stream of tenants but also adds a layer of desirability to the property.

Recent Updates:

A key factor in the property’s allure is the recent care and attention it received from the seller. The exterior boasts a fresh coat of paint, contributing to its curb appeal, while newer fencing adds a touch of modernity. These updates, among others, reflect the commitment to maintaining the property’s value and appeal.

Conclusion:

The recent sale of 3624 SE 66th Ave signifies more than a property transaction; it marks the passage of a prime investment opportunity in Portland’s Foster-Powell neighborhood. With its fully rented units, strategic location, and future development potential, the triplex serves as a testament to the enduring appeal of well-maintained, income-generating properties in the heart of the city. As the neighborhood continues to evolve, the new owner of this triplex is poised to reap the rewards of a wise investment in one of Portland’s most dynamic locales.

If you’re looking to buy or sell an investment property, or find a place of your own, please reach out to Andy Harris for a no pressure, no obligation discussion of how he can help you achieve your real estate goals!