237 239 NE GRAHAM ST

Income-producing duplex in Portland’s sought-after Eliot neighborhood generating $61,140 annually with additional upside potential. Unit 239 (2 bed, 1 bath, approx. 1,200 sq ft) is already achieving strong market rent at $2,795/month, while Unit 237 (1 bed, 1 bath) is currently rented at $2,300/month and transitions to month-to-month in May 2026, creating an opportunity to adjust rents over time.With the larger 2-bedroom unit already performing at a strong level, the property provides a proven benchmark for income, while the 1-bedroom offers potential for incremental rent growth—creating a balanced investment with stable in-place cash flow and future upside.The property blends classic character with functional updates, including a newer furnace (~3 years old) and water heaters (~2–3 years old). Unit 237 features a large attic accessible by a full staircase, offering additional storage or potential future use. Both units include in-unit laundry.Additional highlights include a high-ceiling basement, separate electric metering, and strong tenant appeal in a walkable, high-demand location near parks, restaurants, and the Matt Dishman Community Center, with quick access to downtown Portland.Ideal for investors seeking stable income with upside potential, or owner-occupants looking to offset their mortgage while building long-term equity. Opportunities with in-place income and future growth in this location are increasingly limited.