# 501 SE 157TH Ave, Portland, OR 97233

> **TL;DR:** 6bd/6ba residential multi family, $599,900 ($171/sqft), built 1947, 3,503 sqft.
> A/C. Est. $2,600/mo. Listed 8 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $599,900 |
| Price/sqft | $171 |
| Bedrooms | 6 |
| Bathrooms | 6 full |
| Square Feet | 3,503 |
| Year Built | 1947 |
| Lot Size | 20,909 sqft (0.48 acres) |
| Stories | 2 |
| Property Type | Residential Multi Family (Other) |
| Status | For Sale |
| Days on Market | 8 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $2,600 |
| **Total** | **$2,600** |

## Nearby Schools

- **Elementary:** Parklane
- **Middle:** Oliver
- **High:** Centennial

## Key Amenities

- A/C

## Property Highlights

- Built in 1947
- 0.48 acre lot
- 2 stories

## Description

### Agent Description
Fantastic tri-plex opportunity with exceptional flexibility and income potential! Situated in the Centennial neighborhood on a rare, dividable 0.48-acre lot zoned RM1, this property offers a unique blend of current cash flow and future development possibilities. Each of the three units features 2 bedrooms and 1 bathroom, with updates completed to varying degrees. Units are equipped with central air conditioning, in-unit washers and dryers, electric or gas ranges, and free-standing refrigerators for tenant convenience. Unit 505 showcases wood flooring, black appliances, a cozy fireplace with brick surround, and a stackable washer and dryer. Unit 511 offers distinctive Spanish tile in the kitchen, stainless steel appliances, gas cooking, a carpeted living room with a woodstove, a full-size washer and dryer, and a relaxing soaking tub. Unit 513, located on the lower level, features laminate wood flooring, white appliances, a built-in microwave, and a soaking tub. Residents enjoy access to shared outdoor spaces complete with a covered back patio, raised garden beds, and an inviting outdoor fireplace. The expansive, level backyard provides ample room for gardening, recreation, or future expansion. Additional highlights include two rentable garages for added income and driveway parking for at least six vehicles. Whether you're looking to subdivide and build, maintain as an income-producing property, or create a multi-generational living compound, this property offers endless possibilities in a prime location.

## Location

- **Address:** 501 SE 157TH Ave, Portland, OR 97233
- **County:** Multnomah
- **Neighborhood:** CENTENNIAL
- **Coordinates:** 45.518653, -122.50204
- **Google Maps:** https://www.google.com/maps?q=45.518653,-122.50204

## Listing Agent

- **Name:** Jeff Capen
- **Brokerage:** Windermere Realty Trust
- **Phone:** 5038885191
- **Email:** jeff@dcgpdx.com

## Primary Photo

![501 SE 157TH Ave - Primary Photo](http://lh.rdcpix.com/de757ec21227e1de7f8e963c639f48d5l-f156807372r.jpg)

*30 total photos available on [listing page](https://www.propertysimple.com/listing/501-se-157th-ave-portland-or-97233-85509330)*

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**MLS#:** 785509330 | **Updated:** 2026-04-24
**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/501-se-157th-ave-portland-or-97233-85509330)

---

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  "description": "Fantastic tri-plex opportunity with exceptional flexibility and income potential! Situated in the Centennial neighborhood on a rare, dividable 0.48-acre lot zoned RM1, this property offers a unique blend of current cash flow and future development possibilities. Each of the three units features 2 bedrooms and 1 bathroom, with updates completed to varying degrees. Units are equipped with central air conditioning, in-unit washers and dryers, electric or gas ranges, and free-standing refrigerators ",
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