# 237 239 NE GRAHAM St, Portland, OR 97212

> **TL;DR:** 3bd/2ba residential multi family, $735,000, built 1904.
> View. Est. $3,185/mo. Listed 23 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $735,000 |
| Bedrooms | 3 |
| Bathrooms | 2 full |
| Year Built | 1904 |
| Lot Size | 7,405 sqft (0.17 acres) |
| Stories | 2 |
| Property Type | Residential Multi Family (Other) |
| Status | For Sale |
| Days on Market | 23 |

## Why This Home Stands Out

- **Views** - Territorial

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $3,185 |
| **Total** | **$3,185** |

## Nearby Schools

- **Elementary:** Boise-Eliot
- **Middle:** Boise-Eliot
- **High:** Jefferson

## Key Amenities

- View

## Property Highlights

- Built in 1904
- 0.17 acre lot
- 2 stories

## Description

### Agent Description
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.

## Location

- **Address:** 237 239 NE GRAHAM St, Portland, OR 97212
- **County:** Multnomah
- **Neighborhood:** ELLIOT
- **Coordinates:** 45.543035, -122.662698
- **Google Maps:** https://www.google.com/maps?q=45.543035,-122.662698

## Listing Agent

- **Name:** David Raines
- **Brokerage:** 24/7 Properties
- **Phone:** 5036074216
- **Email:** dave@rainesrealty.group

## Primary Photo

![237 239 NE GRAHAM St - Primary Photo](http://lh.rdcpix.com/c04988e17cc1f170e06a8bf02ff57ee7l-f1639226833r.jpg)

*48 total photos available on [listing page](https://www.propertysimple.com/listing/237-239-ne-graham-st-portland-or-97212-46624780)*

---

**MLS#:** 246624780 | **Updated:** 2026-04-27
**Source:** listhub

*Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/237-239-ne-graham-st-portland-or-97212-46624780)

---

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