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$785,000

Est. payment - /mo

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3,892 SqFt

Price Dropped by $10K

7521 N GLOUCESTER AVE Portland, OR 97203

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Paul Sowards

paulalexsow@gmail.com +1(503) 781-8652

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Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,892 sqft

Price per Sqft $201

Subdivision Portsmouth

MLS Listing ID 232296525

Year Built 1909

Annual Tax Amount $6,651

Tax Year 2024

Lot Size 4,356 Sqft

Property Description

Rare CM2-zoned commercial mixed-use property in the heart of North Portland, well-suited for office, wellness, or service uses such as massage therapy, chiropractic, medical, design studios, or professional services. Two of three units are currently leased, offering immediate income with the opportunity for owner-occupancy or office use while tenants help pay the mortgage. Located in Prosper Portland Interstate URA.This former farmhouse has been thoughtfully converted into a three-unit building that blends vintage charm with functional updates. CM2 zoning allows for flexible commercial use today and long-term potential for higher-density redevelopment. All units have been updated and include basement storage access, coin-operated laundry for additional income, shared backyard and deck, and inviting front porches. The lot abuts a parking lot, with approximately 6' x 50' belonging to the property, offering potential on-site parking (driveway easement agreement needed).• Unit 1: 1-bedroom with original hardwood floors, working wood-burning fireplace, and 2015 kitchen and bath updates.• Unit 2: 2-bedroom with hardwood floors, large kitchen, built-ins, and remodeled kitchen and bath featuring penny tile, clawfoot tub, and original hardware.• Unit 3: Upper-level 2-bedroom with new carpeting, newly added A/C and furnace, refreshed kitchen with marmoleum flooring, and a large bonus room ideal for office expansion or treatment space.Located less than a mile from University of Portland and New Seasons, and between the Kenton and St. Johns commercial districts. Excellent transit access via the 75 and 35 bus lines, with shops and services along Lombard Avenue.Zoned CM2 (Commercial Mixed Use 2) — a rare opportunity for investors or owner-users seeking income, flexibility, and long-term upside in a walkable North Portland location.

Location

State OR

County Multnomah

Community Laundry

Area _141

Zoning CM2

Rooms

Basement Partial Basement, Storage Space, Unfinished

Interior

Heating Forced Air

Cooling Central Air

Exterior

Community Features Laundry

View Trees Woods

Roof Type Shingle

Garage No

Building

Lot Description On Busline, Trees

Story 2

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public Water

Level or Stories 2

Schools

Elementary Schools Astor

Middle Schools Astor

High Schools Roosevelt

Others

Acceptable Financing Cash, Conventional, FHA, VALoan

Listing Terms Cash, Conventional, FHA, VALoan

Regional Multiple Listing Service (RMLS)

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Paul Sowards

Broker

+1(503) 781-8652