Be part of the transformation of Bayside, which is one of the fastest redeveloping neighborhoods in Portland. Located in the heart of Portland's Peninsula in the dynamic B2b business zone, this owner-occupied duplex at 50 Alder Street offers a great opportunity for both cash flow and long-term upside. The property has a significant value-add opportunity to transform currently unheated bonus rooms in Unit 48, totaling approximately 455 sqft, into living space by adding heating elements and improving the finish (with permits). If you're an owner-occupant looking to offset your mortgage or an investor seeking a strategic buy-and-hold, this property is full of opportunity. The building is in move-in ready condition, with tons of space, 4 bedrooms in #50 and 3 bedrooms in #48. It could be possible to transform #48 into a 4 bedroom 2 bathroom unit by adding a first floor master bedroom and en suite bathroom using existing space. Based on the measurements generated through creation of the floor plans, the gross living area is larger than what is reflected in the public records, with 1354 sqft in #48 and 2582 sqft in #50 for a total of 3936 sqft. There may be potential to add an additional unit within the existing building, with permits. Situated on a 6,076 sqft lot, the B2b zone allows for medium-scale mixed-use and multifamily development. Existing zoning allows this parcel to support up to 13 residential units by right (buyer to verify with the city). In addition to the duplex, the detached garage includes a workshop area—ideal for storage, a creative studio, or business-related use. Off-street parking adds convenience for residents or future occupants. Invest in one of Portland's most walkable neighborhoods, steps away from Bayside Bowl, with Whole Foods, Trader Joe's, the Old Port and the Arts District all within easy reach. This walker's paradise has a walkscore of 98 out of 100. This duplex is a versatile opportunity in a fast-evolving area.