Rare multifamily opportunity in Hines featuring 3 recognized addresses (129, 131, & 131½ S Milwaukie Ave) with separate entrances & utility meters, for significant value-add potential.
The property currently includes 2 livable units plus a 3rd unfinished unit with electrical service & plumbing in place. The unfinished unit offers an excellent opportunity for additional rental income, multigenerational living, guest quarters, or expanded living space upon completion.
Situated on a large city lot, the property offers over 2,400 square feet of existing living space & flexible configuration options rarely found in today's market. While updates & improvements remain, much of the groundwork has been started, creating an opportunity for investors, contractors, or owner-occupants to build equity through completion & modernization.
Whether you're looking for rental income, a value-add investment, or flexible living arrangements, this property offers possibilities that are difficult to find
Listing courtesy of Epique Realty, agent Tina Dodge, 503-819-9191
Data last updated July 26, 2026
Based on information from Oregon Data Share. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listing information is for consumers personal, non-commercial use only.
A rough estimate, not a quote. A real number comes from a lender.
Loan amount $252,000 · $63,000 down · 30 year term
Monthly cash flow, cap rate, and cash-on-cash return at this price. Every number is an estimate you can adjust to your own financing and rent.
Estimate $1,575 ($1,350–$1,800) · starting estimate. Edit to your own number.
At $315,000 with 20% down, this property runs $825 per month negative. Adjust the price, down payment, or rent to find what works.
Estimates only, not investment advice or a guarantee of rent, value, or return. Figures depend on the numbers you enter and current market conditions. Verify with your lender, tax advisor, and a Ryan Realty broker before you rely on them.
We pull climate risk data from FEMA flood maps, the Deschutes County wildland-urban interface map, and NOAA heat trends. Detailed scoring for this property is on request.
Get the climate reportWe compute vacation rental projections from comparable short-term rentals in the same community, weighted by bed count, view, and amenities. A custom projection for this property is on request.
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