$975000
-
6 Bed
-
3 Bath
-
3999 SqFt
-
1 DOM
-
Built: 1948
-
Status: Active
Love this home?
Pleased to exclusively represent the sale of 1659–1665 SE Rex Street, a five-unit apartment building located in the heart of Portland’s vibrant and highly sought-after Sellwood-Moreland neighborhood. This offering presents a rare opportunity to acquire an asset with very stable rental history, low-density, single story with a diverse unit mix of one-, two-, and three-bedroom floorplans. The property has been professionally managed and well maintained, with recent capital upgrades including a new torch-down roof (2023), new vinyl windows, and updated kitchens and bathrooms in select units. With very stabilized rents and exceptionally low turnover, Rex Street represents a turnkey investment in one of the metro’s most consistently performing submarkets.The property sits on a prominent corner lot at SE Rex and SE Milwaukie Avenue, providing excellent visibility and immediate access to the very best of Sellwood. Originally incorporated as its own city in the late 1800s, Sellwood has maintained its small-town charm while evolving into one of Portland’s most connected and livable neighborhoods. The neighborhood offers a balanced blend of historic homes, modern infill, lush parks, and a true sense of community — attracting long-term residents and renters alike who value walkability, bikeability, safety, and access to both urban and natural amenities.Portland’s multifamily fundamentals continue to improve, with the metro vacancy rate declining to 5.6% in 2024, and average rent growth reaching 2.5%, a trend expected to accelerate into 2025. The broader Portland MSA is forecast to outpace national household and population growth rates, supported by a diverse employment base and high quality of life. In this context, Rex Street stands out as a low-maintenance, income-producing asset in an irreplaceable location, appealing to investors seeking long-term stability, appreciation, and consistent demand in a premier Portland submarket.
Listing Provided Courtesy of Greg Messick, RealtyNET, LLC
General Information
-
768016266
-
-
1 DOM
-
6
-
7405.2 SqFt
-
3
-
3999
-
1948
-
R-1
-
Multnomah
-
R303698
-
Llewellyn
-
Sellwood
-
Cleveland
-
MultiFamily
-
-
WESTMORELAND, BLOCK 5, S 1/2 OF LOT 11, LOT 12
Listing Provided Courtesy of Greg Messick, RealtyNET, LLC
PDXA1 Realty Group data last checked: Aug 31, 2025 05:05 | Listing last modified Aug 04, 2025 18:20,
Source:
Residence Information
-
-
-
-
3999
-
-
-
-
6
-
-
-
3
-
Flat
-
-
-
OnStreet
-
1
-
1948
-
No
-
-
HardConcreteStucco
-
None
-
-
-
None
-
Other
-
-
Features and Utilities
-
-
-
-
-
-
None
-
Other
-
Baseboard
-
PublicSewer
-
Other
-
Electricity, Gas
Financial
-
10178.83
-
0
-
MaintenanceGrounds
-
-
-
Cash,Conventional
-
08-04-2025
-
-
No
-
No
Comparable Information
-
-
1
-
27
-
-
Cash,Conventional
-
$975,000
-
$975,000
-
-
Aug 04, 2025 18:20
Schools
Map
Listing courtesy of RealtyNET, LLC.
The content relating to real estate for sale on this site comes in part from the IDX program of the RMLS of Portland, Oregon.
Real Estate listings held by brokerage firms other than this firm are marked with the RMLS logo, and
detailed information about these properties include the name of the listing's broker.
Listing content is copyright © 2019 RMLS of Portland, Oregon.
All information provided is deemed reliable but is not guaranteed and should be independently verified.
PDXA1 Realty Group data last checked: Aug 31, 2025 05:05 | Listing last modified Aug 04, 2025 18:20.
Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Similar Properties
Venkat is a very good negotiator. He was quick to respond, when I had questions. He came to all the meetings with the seller and provided valuable inputs on inspections and mortgage options. Overall, I was impressed and would love to work with him again.
— Jagathishp
Venkat is very professional and has tremendous knowledge in the real estate industry. He was always available to discuss and made time to visit the construction site several times during the course. I was looking at a new construction and had to wait for the property to be built.
— Vignesh Chan
Muthu has good knowledge about the community and understands the needs of his customers. He helped us sell our house in record time and followed up with the buyer and the agent until the complete closure. We received multiple offers and Muthu negotiated well and helped us decide on the buyer.
— Praveen
Venkat Muthu is a wonderful person to go with. Very friendly and advices as per the need and gives his service and support where and when needed and some times going beyond. Really happy to share the review and I highly recommend if anyone is looking for any homes.
— Alishetty
Venkat is great to work with as realtor. He is very patient and listens to the requests of the buyer or seller and doesn’t push as t any point of time. He has a good understanding of the market situation and location for investments as well. All this comes from experience with him recently buying a home.
— Ramren Garajan
Thinking about buying or selling. Let’s Talk.
Whether you’re looking to buy your dream home, sell your property for the best price, or explore investment opportunities, PDXA1 Realty Group is here to help. With expertise, personalized service, and a commitment to your goals, we’ll guide you every step of the way. Contact us today at (971) 330-1856 let’s start the conversation!
© PDXA1 Realty Group | Powered by Taigha