Charming Farmhouse Triplex in the Heart of North Portland 

Welcome to this beautifully maintained former farmhouse, now a thoughtfully converted triplex, nestled in the vibrant Peninsula neighborhood. This income-producing property blends vintage charm with modern upgrades.   It has even opportunities for increased cash flow or re-development into a higher density building.  

Existing Building.  

All 3 units have received updates in the last 10 years, have access to storage in the basement, a coin-operated laundry (additional income), shared backyard + deck, and front porches.   The lot abuts a parking lot with 10’ x 50’ of parking space (easement agreement needed)

Unit 1: A warm and inviting 1-bedroom featuring original hardwood floors, working wood-fireplace, and a stylish 2015 update with new countertops and a refreshed bathroom.  

Unit 2: A spacious 2-bedroom with hardwood floors, a large kitchen, built-ins, and a recently remodeled bathroom and kitchen.  Features classic penny tile a, clawfoot tub, and original hardware

Unit 3: Spanning the entire upper floor, this bright 2-bedroom unit includes new carpeting, and newly added air conditioning / furnace, a refreshed kitchen with marmoleum flooring, and a generous bonus room perfect for a playroom or large walk-in closet.

Located less than a mile from Arbor Lodge’s New Seasons Market, and just two miles to both the Kenton and St. Johns commercial districts. A few short blocks to University of Portland, this property is perfectly positioned for walkability and long-term desirability.  Served by the 75 and 35 Bus-lines, with lots of nearby shops and restaurants on Lombard Avenue. 

•Zoned CM2m (Commercial Mixed Use) – flexible for a variety of future uses

4,300 sf lot including  6 x 50’ feet of land west of the current fence line for potential on-site parking

•Excellent opportunity to maintain as a rental, convert back to a single-family home, or develop into higher density apartments

•Up to 4:1 FAR, Max Height 75’, Setbacks: Front: 0’, Back: 0’, North: 10’, South: 0’

Whether you’re a seasoned investor or a visionary homebuyer, this one-of-a-kind triplex offers charm, income, location, and flexibility — all in one of North Portland’s best neighborhoods filled with shops, parks and activities.

Don’t miss this exceptional investment opportunity!