5623 N GAY AVE Portland, OR $ 769,900
5623 N GAY AVE
$ 769,900
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5623 N GAY AVE

Portland, OR, 97217
$ 769,900
Bedrooms4 Baths4.0 Sq 2,557

Monthly Estimate*

$ 4,740

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Multi-Family Home for sale in Portland, OR

for $769,900 with 4 bedrooms and 4 full baths. This 2,557 square foot home was built in 2020.

Opportunity to acquire one side of a modern home with separate living quarters! This offering provides ~2,557 sq ft of well designed living space across three levels, delivering a functional and highly marketable layout for tenants or owner occupants seeking flexibility. Main level features a great room style design with seamless flow between kitchen, dining, and living areas, plus a convenient half bathroom for guests. Kitchen is equipped with a full size island with eat bar, stainless steel appliances, and extensive custom cabinetry, while large windows and sliding doors enhance natural light and connect to a covered deck and fully fenced yard, a key driver for livability and tenant retention. Upper level offers a 3 bedroom, 2 bathroom configuration including a primary ensuite with walk in closet and walk in shower, along with centrally located laundry for convenience. Ground level includes a highly sought after attached garage and separate living quarters with 1 bedroom, 1 full bathroom, and exterior access, currently rented and providing income from day one, creating flexibility for multigenerational use or continued supplemental rental income. Modern construction, efficient layout, and desirable features position this home for strong long term performance. Located near Arbor Lodge Park, New Seasons Market, and the dining, cafes, and retail along N Lombard St and St Johns, supporting consistent demand and long term value.

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Multi-Family Active

Price

$ 769,900

Bedrooms

4

Full Bath

4

Property Type

Multi-Family

Taxes

$ 10,697

Style

Year Built

2020

Town/City

Portland

County/Region

Multnomah

MLS | Web ID

593159608

Features
General
Sewer PublicSewer
Heating ForcedAir WallHeater
Cooling CentralAir
Roof Composition
Zoning R2.5
Garage Spaces 1.0
Security Features Sidewalk
Year Built 2020
Stories Count 3
Tax Year 2025
Parcel Number R716360
Gross Income 58583.0
County Multnomah
Net Operating Income 39866.0
Operating Expense 18717.0
Property Type MultiFamily
HOA N
Subdivision Name OVERLOOK
Rent Includes None
Status Active
Directions N Killingsworth St N on N Gay Ave
High School Jefferson
City Portland
Disclosures Exempt
Number Of Units Total 2
MLS Area _141
Listing Terms Cash Conventional
Elementary School Beach
Tax Annual Amount 10697.12
Middle/Junior High School Ockley Green
Property Condition Existing
High School 2 Roosevelt
Virtual Tour https://www.youtube.com/watch?v=oRBJ5NDI4ag
Standard Status Active
Accessory Dwelling Unit Y/N N
Legal Description FIFTY-SIX TWENTY-THREE CONDOMINIUMS UNIT 2
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Interior
Basement SeparateLivingQuartersApartmentAuxLivingUnit
Storage Garage
Hot Water Gas Tankless
Unit 1 Baths Total 3
Unit 1 Beds Total 3
Unit 2 Baths Total 1
Unit 2 Beds Total 1
Unit Type UnitTypeType1 UnitTypeType2
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Exterior
Parking Features Driveway Garage
Lot Features Level PublicRoad
Water Source PublicWater
Total Parking 1.0
Exterior Description Cedar CementSiding LapSiding Panel
Foundation Details Slab
Building Area Total 2557.0
Road Surface Type Paved
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Internal Only
Street Number 1 5623
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* Excluded Features
List By
Keller Williams Realty Portland Premiere

Broker

503-709-4632

Contact

Affordability Calculator

$5,632
Per Month
84%
16%
0%
Monthly Principal & Interest
$4,740
Monthly Property Taxes
$891
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% 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
1950960 Elementary School
1950460 Middle School
Jefferson High School High School
Pricing History
DatePricePrice ChangeDescription
4/15/2026$769,900 Listed Price

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5623 N GAY AVE, Portland, OR, 97217 is a Multi-Family Home for sale at $769,900 with 2,557 sqft. 5623 N GAY AVE has 4 bedrooms, 4.0 baths, and was built in 2020. The property's zip code is 97217 which is in Portland, OR