3718 SE 40th Ave

Portland, OR 97202

$625,000
Last Sold Price
—
Beds
—
Baths
2,384 Sq. Ft.
$262 / Sq. Ft.
2,384
Sq. Ft.
$262
per Sq. Ft.
Sold 11/18/25
Sold 11/18/25

Description

Prime investment opportunity on a classic inner city Portland Duplex. One Vacant Unit. New roof and exterior paint in 2024 and new furnace in 2016. Two bedroom, one bath units with hardwood floors throughout, open kitchen, great storage and bonus space with high ceilings in the basement and private garages. Owner occupied option available or rent both units as this property delivers an attractive 5.5 cap rate. Close to shopping, entertainment, local Creston and Kenilworth Parks and located a half...Prime investment opportunity on a classic inner city Portland Duplex. One Vacant Unit. New roof and exterior paint in 2024 and new furnace in 2016. Two bedroom, one bath units with hardwood floors throughout, open kitchen, great storage and bonus space with high ceilings in the basement and private garages. Owner occupied option available or rent both units as this property delivers an attractive 5.5 cap rate. Close to shopping, entertainment, local Creston and Kenilworth Parks and located a half block from mass transit for easy movement throughout the city.
  1. Listed by Doug Landers • John L. Scott Portland Central • neportland@johnlscott.com
  2. Listed by Maddie Landers • John L. Scott Portland Central

Property Details for 3718 Southeast 40th Avenue

Subdivision
Creston-Kenilworth
Parking Features
Garage, Off Street
Zoning
R5
LISTING UPDATED: 11/19/2025 06:47 AM

Property Details for 3718 Southeast 40th Avenue

StatusSold
MLS #494199141
Days on Market119
Taxes$7,961 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built1953
Lot Size0.16 AC / 6,969 SF
CountyMultnomah County

Location

Listing Courtesy of John L. Scott Portland Central

Sold By Keller Williams Realty Portland Premiere

Add your commute

Building Information for 3718 Southeast 40th Avenue

Stories1Residences2Year Built1953Building Size-Lot Size0.16 AC / 6,969 SF

Payment Calculator

$3,710 per month

30 year fixed, 6.15% Interest

Principal and Interest

$3,046

Property Taxes

$663

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3718 Southeast 40th Avenue

Summary
Location and General Information
  • Country: US
  • Directions: Powell Blvd - South on SE 40th
  • Road Surface: Paved
School Information
  • Elementary School: Creston
  • High School: Franklin
  • Middle Or Junior School: Kellogg
Taxes and HOA
  • Tax Year: 2024
  • Tax Annual Amount: $7,960.55
  • Parcel Number: R328204
  • Tax Legal Description: SECTION 12 1S 1E, TL 6100 0.16 ACRES
Property
Lot Information
  • Acres: 0.16
  • Lot Description: Public Road
  • Lot Size Square Feet: 6969.0
  • Lot Size Range: Sq Ft7000to9999
  • Lot Size: 7,000 to 9,999 Sq Ft
Property and Assessments
  • Property Type: Multi Family
  • Water Description: Public Water
  • Year Built: 1953
Utilities
  • Cooling Description: Window Unit
  • Fuel Description: Gas
  • Heating Description: Forced Air
  • Hot Water Description: Electricity
  • Sewer Description: Public Sewer
  • Rent Includes: Maintenance Grounds
Interior and Exterior Features
Exterior Features
  • Exterior Description: Wood Siding
  • Roof Type: Composition
Interior Features
  • Basement: Unfinished
  • Foundation Details: Concrete Perimeter
  • Stories: 1
Multi Family
Multi-Family Information
  • Number Of Units Total: 2
  • Gross Income Actual: $47,046.00
  • Gross Rent Multiplier: $13.28
  • Investor Information: Profit Loss Statement
  • Net Income Actual: $34,558.00
  • Operating Expense: $12,488.00
  • Storage: Basement
  • Unit Type Type: Unit Type Type1, Unit Type Type2
  • Common Amenities: Laundry
  • SqFt Approximate Building Total: 2384
Unit 1 Information
  • Unit Type 1 Baths Total: 1
  • Unit Type 1 Baths Decimal: 1.00
  • Unit Type 1 Beds Total: 2
  • Unit Type 1 Features: Dishwasher, Range, Refrigerator, Washer Dryer Hookup
  • Unit Type 1 Rent: $1,650
  • Unit Type 1 SqFt: 1100.0
  • Unit Type 1 Units Total: 1
Unit 2 Information
  • Unit Type 2 Baths Total: 1
  • Unit Type 2 Baths Decimal: 1.00
  • Unit Type 2 Beds Total: 2
  • Unit Type 2 Features: Dishwasher, Range, Refrigerator, Washer Dryer Hookup
  • Unit Type 2 Rent: $0
  • Unit Type 2 SqFt: 1100.0
  • Unit Type 2 Units Total: 1

Schools near 3718 Southeast 40th Avenue

This home is within Portland School District 1j.
Rating
School
Type
Grades
Distance
Creston Elementary School
Public - K to 5
Hosford Middle School
Public - 6 to 8
Franklin High School
Public - 9 to 12
Richmond Elementary School
Public - PK to 5
Rating
School
Distance
Creston Elementary School
PublicK to 5

Hosford Middle School
Public6 to 8

Franklin High School
Public9 to 12

Richmond Elementary School
PublicPK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of John L. Scott Portland Central

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