Located minutes away from the heart of Portland, this newly renovated Victorian home has a solid rental history, both as long term rental and as an Air BnB. The house sits in an ideal location with easy access to the core of downtown, South Waterfront District, OHSU/Doernbecher/VA Hospital and the Portland Streetcar/MAXA. In addition to the location, you’ll also enjoy your own driveway and fenced backyard, which is almost unheard of this close to the city! The daylight basement has been converted to a studio apartment with its own private entrance and upstairs, there are four bedrooms and two full bathrooms. The main floor has two bedrooms and a full bath and the other two bedrooms and bathroom are upstairs on the third floor. As an Air BnB, the house comfortably sleeps eight adults and two kids. It is the perfect situation for an owner occupied investment property or to rent out both spaces! All work was fully permitted, and all furnishings are negotiable!
Beautiful Old PDX style duplex with character and updates.
2 Units, Perched above the road with SW views from large second floor windows, hardwood floors, storage, yard, spacious basement with storage rooms, updated electrical panel, attached 2 car garage, large covered porch.
When I think about the story of this purchase, I realize the center of this story is not the charming Montavilla ranch. This story is about my client, Russell. He is a first time home buyer, arborist, future Portland real estate mogul, and all around cool guy to know.
Me and Russell at the signing for his first home!
I met Russell when my neighbor recommended his tree company and was immediately impressed with his knowledge and passion for his work. I hired him for a job at my own home, and for every tree need I’ve had since. He is now my go-to person for all things tree and shrub related and I recommend him to everyone in my area.
I learned about his interest in real estate after he did a few projects at my house. Russell had a very focused idea of what he wanted. He wanted to buy a house he could live in comfortably for a few years. However, his end goal was to eventually turn this house into a rental. He is interested in building wealth through real estate and was ready to start building his portfolio! Russell has an investor’s mindset and an eye for what will make a good rental.
I’m happy to say that after touring lots of homes in southeast Portland, we found one that was perfect! After less than 10 hours on the market, we had toured and submitted an offer on this property. The 2 bedroom, 800 sqft home in Montavilla fits his criteria perfectly. A well maintained, move-in ready home, with easy access to freeways for commuting, within walking distance to shops and restaurants on Stark, an attached garage Russell can convert to a woodworking studio. (One of his talents is making, and teaching others to make, beautiful wooden spoons, butter knives, and serving ware.) The house is also on a spacious lot with room for a garden and, of course, some trees!
Russell in front of his first home!
The sellers accepted Russell’s offer after waiting a few days to review all others that had come in. When writing his offer, he put his best foot forward because he knew this was the home he wanted. He didn’t want to miss out on such a great investment so he offered above asking, knowing the home was worth it. The sellers agreed to a small repair that needed doing, but the rest of the transaction was a breeze. We signed the closing docs on five years to the day he moved to Portland, and I couldn’t be more happy for him!
