PORTLAND'S MULTI-FAMILY EXPERTS
Featured - Rare Gresham Triplex
Unicorn in the heart of Gresham! Rare triplex with 3, 2-bedroom, 1-bathroom units (800 sq ft each) conveniently located near shopping, dining, and public transit. This well-maintained property features a recently remodeled units, complete with luxury vinyl plank flooring. All units are fully leased.
Featured - Remodeled Gresham Duplex
This well-maintained side-by-side duplex sits on a spacious corner lot in a quiet and desirable area of Gresham, near Mt. Hood Community College. Both 2-bedroom, 1-bathroom units have been remodeled, offering modern updates and a comfortable living space. Each unit includes W/D hookups, an attached garage for parking and storage, as well as a fully fenced backyard for added privacy.
This Week's Newest Portland Multi-Family Listings
Portland Area Multi-Family Searches
The Portland Duplex Market
Portland is fortunate to have many different types of multi-family properties in nearly every popular area of the city. In some cities duplexes are concentrated in specific areas, but the planners in Portland included multi-family properties everywhere which creates a good market for investors. Also many historic homes in Portland have been divided into duplexes and triplexes over the years.
Portland is not an inexpensive city though, and the housing prices reflect that. If you're looking for a place that's new or ready to rent you'll have to pay a premium. But since rents are high as well you'll start recouping your investment from the first month. If you're looking for a sweat equity opportunity we can help you find those too throughout the city.
Types of Portland Duplexes
Because of the quantity of multi-family homes throughout Portland we have a really diverse selection of duplexes and multi-family homes. You'll find older Victorians in NW and East Portland that have been divided into duplexes. There are new construction duplexes scattered around the North side and King neighborhoods.
Owning & Managing a Portland Duplex
Real estate investing is popular because technically you are making money while you sleep. And it's true that the rental income, property appreciation and tax benefits flow through to you as the owner even while you're asleep. But it still takes work to manage a multi-family property, and if you buy the wrong one for your needs you could end up with a part- time job that doesn't pay nearly as much as you thought it would.
Portland Duplex FAQ's
How much do duplexes cost in Portland?
In Portland duplexes start around $400,000 and then go up from there. Keep in mind you're buying TWO properties for that price, so it's important to look at the price per unit when you evaluate any multi-family property.
Can I get a mortgage for a Portland duplex?
Yes, it is possible to get a mortgage on a duplex. That's one of the best things about duplexes - if you plan to live in one side you can usually get a conventional 30-year financing the same way you can with a single family home. The terms and rates should be very similar (depending on your credit and income). The best part is you can use the income from the other half to offset your mortgage. We've have some clients that pay their entire Principal & Interest with that rental income! You can still get financing if you don't plan to live in one half, but you may pay a higher rate because then it's considered an investment loan and higher risk.
Can I finance a Portland duplex with an FHA Loan?
Yes, you can use FHA financing to buy a duplex if you plan to live in one half. That can help you get into a duplex with a lower down payment, and it's especially popular with first-time buyers. The property will have to meet all the FHA requirements and you'll have to pay for Private Mortgage Insurance (PMI).
Are Portland duplexes a good investment?
Duplexes can be a good investment, but that depends on your own individual situation and investment goals. We strongly recommend you talk with your own CPA and/or Financial Planner to determine whether investing in a duplex is right for you. It's important to keep in mind that real estate is not liquid - it could take a while to sell it and there are expenses involved. You don't want to get into a position where you have to sell, because that's how many people lose money in real estate investing.