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$619,950

  • For Sale
  • Active
  • Single Family
  • 5 Beds
  • 2 Full Baths
  • 1,838 Sq. Ft.
  • Updated 4 days ago

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Open House: 1:30 PM - 3:30 PM

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2821 SE 115th Ave,Portland, OR 97266

2821 SE 115th AvePortlandOR97266

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Beautifully remodeled and incredibly versatile, this rare half-acre property features two separate single-level residences with outstanding income and future development potential. The main home offers 3 beds and 1 bath with a remodeled kitchen, updated finishes, comfortable one-level living and A/C. The detached ADU includes 2 beds and 1 bath, remodeled and move-in ready - ideal for rental income, multigenerational living, guest quarters or owner-occupancy with supplemental income. Both homes include fridges and w/ds, making this a truly turnkey opportunity for homeowners and investors alike. Strong existing rental performance with rentometer.com est average rents of approx. $2,167/month for the 3-bed and $1,615/month for the 2-bed ADU creates immediate income potential. BONUS: The 1/2 lot creates additional possibilities rarely found in Portland. The rear portion of the property may allow space for an additional detached ADU, while the full site offers exciting future redevelopment potential for middle housing or cluster home development with potential for up to 16 units. Whether you're looking for an investment opportunity, flexible living arrangement, or long-term development upside, this property offers exceptional potential in a rapidly evolving area of SE Portland. Large usable lot, multiple living spaces, income potential and future flexibility all in one unique property. Property includes a 50 amp exterior outlet for tiny home or RV. Lot may be divided into a minimum of 3 lots. Both units will be vacant at close. Buyer to verify zoning, density and feasibility with the City of Portland. Quiet street, conveniently located in SE Portland with easy access to I-205, Division Street, shopping, restaurants, parks and public transportation. Close to everyday amenities while still offering the privacy and flexibility of a rare half-acre property. [Home Energy Score = 7. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10239200]

Full Property Details for 2821 SE 115th Ave

General

  • Price: $619,950
  • Taxes: $5,621 (2025)
  • Status: Active
  • Type: Single Family
  • Source: RWMLS
  • MLS ID: 742261598
  • Updated: 5/15/2026
  • Added to Site: 7 day(s) ago

Interior

  • Interior Features: Accessory Dwelling Unit, Air Cleaner, Laminate Flooring, Laundry, Quartz, Washer/Dryer
  • Appliances: Built-in Oven, Cooktop, Dishwasher, Disposal, Free-Standing Refrigerator, Plumbed For Ice Maker, Quartz, Solid Surface Countertop, Stainless Steel Appliance(s)

Rooms

Bathrooms

  • Total Bathrooms: 2
  • Full Bathrooms: 2
  • Main - Full Baths: 2

Bedrooms

  • Total Bedrooms: 5
  • Primary Bedroom: 13 x 9, Upper, 117 Sq. Ft.
  • Bedroom 2: 11 x 9, Main, 99 Sq. Ft.
  • Bedroom 3: 10 x 9, Main, 90 Sq. Ft.
  • Bedroom 4: 14 x 10, Main, 140 Sq. Ft.
  • Bedroom 5: 10 x 10, Main, 100 Sq. Ft.

Other Rooms

  • Kitchen: Main
  • 2nd Kitchen: 11 x 9, Main

Exterior

  • Exterior Features: Accessory Dwelling Unit, Covered Deck, Covered Patio, Outbuilding, Patio, Porch, Public Road, RV Hookup, RV Parking, Second Residence, Tool Shed, Yard

Parking

  • Parking Features: Driveway, RV Access/Parking

Location

  • County: Multnomah
  • Subdivision: POWELLHURST
  • Driving Directions: GPS Friendly | Between Division and Powell on SE 115th

School Information

  • Elementary School: W Powellhurst
  • Middle School: Ron Russell
  • High School: David Douglas

Community

  • Community Name: 143 - Portland Southeast

Heating & Cooling

  • Central air: Yes
  • Air Conditioning: Yes
  • Cooling Type: Central Air
  • Heating Type: Forced Air
  • Heating Fuel: Gas

Utilities

  • Sewer: Public Sewer
  • Water: Public Water

Structural Information

  • Property Detached: Yes
  • Architectural Style: 1 Story, Cottage
  • Basement Desc.: Crawl Space
  • Roof: Composition
  • Windows: Double Pane Windows
  • Stories/Levels: 1
  • Square Feet: 1,838
  • Year Built: 1942
  • Property Condition: Updated/Remodeled

Lot Features

  • Lot Size (Acres): 0.53
  • Lot Size (Sq. Ft.): 23,086
  • Lot Size: 20, 000 SqFt to .99 Acres
  • Lot Dimensions: 307 x 75
  • Frontage: Paved
  • Lot Features: Level

Green Features

  • Green Certified: Yes

Financial Considerations

  • Tax Amount: $5,621.99
  • Tax Year: 2025
  • Terms: Cash, Conventional, FHA, VA Loan

Disclosures and Reports

  • Legal Description: MCGREWS TR, BLOCK 2, LOT 13
  • Disclosures/Reports: Disclosure
  • Property ID: R215167

Listed by Berkshire Hathaway HomeServices NW Real Estate (503) 907-2280, Kelly Asmus (971) 325-2734

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Listing agent

— 2821 SE 115th Ave —

  • Kelly Asmus

    Berkshire Hathaway HomeServices NW Real Estate

    503-907-2280

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Find the right home insurance for your new home!

with our affiliated in-house agency

Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 2821 SE 115th Ave

School District:David Douglas School District 40
NameGradesDistance
West Powellhurst Elementary School
2921 Southeast 116th Avenue, Portland, OR 97266
PK-50.1 mi
Ron Russell Middle School
3955 Southeast 112th Avenue, Portland, OR 97266
6-80.5 mi
David Douglas High School
1001 Southeast 135th Avenue, Portland, OR 97233
9-121.4 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 2821 SE 115th Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
5/13/2026
Listed
$619,950
384.34%
MLS
4/06/2012
Sold
$128,000
—
Public Record
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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 2821 SE 115th Ave

Year
Property Taxes
Change
Tax Assessment
Change
2025
$5,622
4%
$232,500
3%
2024
$5,385
5%
$225,730
3%
2023
$5,151
7%
$219,160
6%
2021
$4,803
-2%
$206,590
-3%
2022
$4,883
2%
$212,780
6%
2021
$4,803
14%
$200,580
3%
2019
$4,212
3%
$194,740
3%
2018
$4,083
4%
$189,070
3%
2017
$3,932
3%
$183,570
3%
2016
$3,829
2%
$178,230
3%
2015
$3,737
2%
$173,040
3%
2014
$3,666
19%
$168,000
3%
2013
$3,068
—
$163,110
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Berkshire Hathaway HomeServices NW Real Estate (503) 907-2280, Kelly Asmus (971) 325-2734

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Price Reduced near 2821 SE 115th Ave

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6337 SE Brownlee Rd, Milwaukie, OR 97267 - Photo 1 Price Reduced
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6337 SE Brownlee Rd  Milwaukie, OR 97267

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Listed by eXp Realty, LLC, Stephanie Peck and eXp Realty, LLC, Cellie Burton
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6031 SE Aldercrest Rd  Milwaukie, OR 97267

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Listed by Vantage Point Brokers, LLC, Kevin Riley
6922 SE Renada St, Milwaukie, OR 97267 - Photo 1 Price Reduced
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Listed by Windermere Realty Trust, Joan-Marie Rogers
7009 SE Tuscany Way, Milwaukie, OR 97267 - Photo 1 Price Reduced
-$15,100 (-2.34%)
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7009 SE Tuscany Way  Milwaukie, OR 97267

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Listed by RE/MAX Equity Group, Eugene Lew

Recent Sales near 2821 SE 115th Ave

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2944 SE 115th Ave, Portland, OR 97266 - Photo 1 Sold
$546,000

2944 SE 115th Ave  Portland, OR 97266

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    Sq. Ft.
Listed by Urban Nest Realty, Karen Bilsing
Sold by Non Rmls Broker, OR and WA Non Rmls
2804 SE 111th Ave, Portland, OR 97266 - Photo 1 Sold
$550,000

2804 SE 111th Ave  Portland, OR 97266

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  • 2,124
    Sq. Ft.
Listed by Premiere Property Group, LLC, Cindy Co Pfeifer and Premiere Property Group, LLC, Brian Whistler
Sold by iStar Realty LLC, Huy Nguyen
10724 SE Clinton St, Portland, OR 97266 - Photo 1 Sold
$610,000

10724 SE Clinton St  Portland, OR 97266

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  • 3
    Total Baths
  • 2,580
    Sq. Ft.
Listed by MORE Realty, Tia Strutz
Sold by MORE Realty, Phe Le
10412 SE Division St, Portland, OR 97266 - Photo 1 Sold
$675,000

10412 SE Division St  Portland, OR 97266

  • Multi-Family
  • Sold
  • 0.72
    Acres
Listed by Fathom Realty Oregon, LLC, Frederick Seid
Sold by MORE Realty Inc, Paul Krewson

2821 SE 115th Ave, Portland, OR 97266 (MLS# 742261598) is a Single Family property with 5 bedrooms and 2 full bathrooms. 2821 SE 115th Ave is currently listed for $619,950 and was received on May 13, 2026. Want to learn more about 2821 SE 115th Ave? Do you have questions about finding other Single Family real estate for sale in Portland? You can browse all Portland real estate or contact a Coldwell Banker agent to request more information.

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