5531 S KELLY AVE Portland, OR $ 599,000
5531 S KELLY AVE
$ 599,000
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5531 S KELLY AVE

Portland, OR, 97239
$ 599,000
Bedrooms3 Baths2.0 Sq 2,448

Monthly Estimate*

$ 3,737

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Multi-Family Home for sale in Portland, OR

for $599,000 with 3 bedrooms and 2 full baths. This 2,448 square foot home was built in 1908 on a lot size of 0.12.

Fantastic opportunity to own a well-maintained, updated duplex just off Macadam Avenue—minutes from downtown Portland, OHSU, and the South Waterfront. Both units are occupied by reliable long-term tenants who value the quiet neighborhood and convenient location, offering immediate, stable income for the next owner.Each unit features its own private yard, updated finishes, and great natural light. The property has been thoughtfully cared for, minimizing maintenance needs and ensuring long-term tenant satisfaction.Centrally located near shopping, coffee shops, parks, and public transportation, this duplex attracts consistent rental demand and strong appreciation potential. A turn-key investment in one of Portland’s most desirable and accessible areas.

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Multi-Family Active

Price

$ 599,000

Bedrooms

3

Full Bath

2

Property Type

Multi-Family

Taxes

$ 7,657

Style

Lot Size

0.12

Year Built

1908

Town/City

Portland

County/Region

Multnomah

MLS | Web ID

743952848

Features
General
Sewer PublicSewer
Heating WallHeater
Cooling WallUnit
Roof Composition
Zoning R2
Year Built 1908
Stories Count 2
Tax Year 2024
Parcel Number R281953
Gross Income 48960.0
County Multnomah
Net Operating Income 24460.0
Operating Expense 3200.0
Property Type MultiFamily
HOA N
Subdivision Name Sweeneys Addition
Rent Includes None
Status Active
Directions Macadam Ave to West on Sweeney to Left on Kelly Ave to Duplex (On Right)
High School Ida B Wells
City Portland
Number Of Units Total 2
MLS Area _148
Lot Size Square Feet 5227.0
Listing Terms Cash Conventional FHA VALoan
Elementary School Capitol Hill
Tax Annual Amount 7657.71
Middle/Junior High School Jackson
Property Condition Existing
Virtual Tour https://view.spiro.media/55315533_s_kelly_ave-4604?branding=false
Standard Status Active
Accessory Dwelling Unit Y/N N
Legal Description SWEENEYS ADD BLOCK 7 LOT 4
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Interior
Storage None
Hot Water Electricity Gas
Unit 1 Baths Total 1
Unit 1 Beds Total 2
Unit 2 Baths Total 1
Unit 2 Beds Total 1
Unit Type UnitTypeType1 UnitTypeType2
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Exterior
Parking Features OnStreet Paved
Lot Features Level
Water Source PublicWater
Exterior Description WoodSiding
Foundation Details ConcretePerimeter
Building Area Total 2448.0
Lot Size Acres 0.12
Road Surface Type Paved
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Internal Only
Street Number 1 5531
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* Excluded Features
List By
Willcuts Company Real Estate

Broker

503-538-8311

Contact

Affordability Calculator

$4,375
Per Month
85%
15%
0%
Monthly Principal & Interest
$3,737
Monthly Property Taxes
$638
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
3254078 Elementary School
3254087 Middle School
Ida B Wells High School High School
Pricing History
DatePricePrice ChangeDescription
11/17/2025$599,000 -6.25% Price Down
10/20/2025$638,900 Listed Price

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5531 S KELLY AVE, Portland, OR, 97239 is a Multi-Family Home for sale at $599,000 with 2,448 sqft and a lot size of 0.12. 5531 S KELLY AVE has 3 bedrooms, 2.0 baths, and was built in 1908. The property's zip code is 97239 which is in Portland, OR