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8535 SW Oleson Rd, 
Portland, OR 97223

$639,000


Bed


Bath


1,543

Sq Ft


Multi-Family

Active

Listed by

Jared Barnes

Save Big Realty

541-708-3898

Last updated:

October 6, 2025, 11:19 AM

MLS#

498935192

Source:

PORTLAND

About This Home

8535 SW Oleson Rd

Open House from 10:30 to 2:30 this Saturday! TWO houses on one tax lot. Nestled among tall fir trees and just a stone's throw from Washington Square Mall, this home feels like a peaceful retreat. These two woodsy escape cottages have been updated with classic charm, blending rustic feel with modern conveniences. The main house offers 2 spacious bedrooms and 1 full bathroom, featuring stunning restored original hardwood floors and a gas fireplace that adds warmth and character to the cozy space. The updated kitchen and bathroom showcase stylish, contemporary finishes, including all new appliances, that perfectly complement the home’s timeless appeal. You'll enjoy year-round comfort with the brand-new energy-efficient tankless hot water heater, ensuring endless hot water whenever you need it. In addition, there's a separate 2 bed, 1 bath house that has been recently updated offering potential for additional living space or rental income. If you're looking for a home that combines warmth, charm, and modern amenities in a tranquil setting, this is the perfect place for you! These homes will rent for over $4,000/ month. At a 5% cap rate That indicates value of $800,000. The current price shows a cap rate of 6.3%!! This is an investors dream!

Home Facts

Multi-Family

Built in 1940

Price Summary

639,000

$414 per Sq. Ft.

MLS #:

498935192

Last Updated:

October 6, 2025, 11:19 AM

Added:

a month ago


Rooms & Interior

Interior

Living Area:

1,543 Sq. Ft.


Structure

Structure

Building Area:

1,543 Sq. Ft.

Year Built:

1940


Lot

Lot Size (Sq. Ft):

12,632


Finances & Disclosures

Finances

Price:

$639,000

Price per Sq. Ft:

$414 per Sq. Ft.

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All information provided is deemed reliable but is not guaranteed and should be independently verified. The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland Oregon. Real estate listings held by brokerage firms other than Coldwell Banker Bain are marked with the RMLS logo and detailed information about these properties includes the names of the listing brokers. Copyright 2025 RMLS, Portland, Oregon. Last updated: October 6, 2025

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By clicking Contact I agree a Coldwell Banker Agent may contact me by phone or text message including by automated means and prerecorded messages about real estate services, and that I can access real estate services without providing my phone number. I acknowledge that I have read and agree to the Terms of Use and Privacy Notice.