5814 N Mississippi Ave, Portland, OR, 97217

About This Home

Start your investment portfolio in one of the beloved neighborhoods with income already working for you on day one! This 1905 bungalow triplex in the heart of the Mississippi Ave. corridor is a compelling rental or owner-occupied home. Rented ground floor Unit 1 is 1 bed/1 bath and upper Unit 2 is 2 bed/1 bath provide immediate, stable income from day one, grossing a combined $2587/mo. Move right into vacant ground floor Unit 3 with its 2 beds, 1 bath, and an eat-in kitchen.The lower two units share access to a spacious blank slate backyard. Unit 2 has its own covered balcony providing outdoor space. The basement offers shared laundry and ample storage. There’s room to bring your own style and elevate the interiors over time, creating additional upside in both rents and value. It’s a smart way to get into the market in a location that’s coveted by owners and renters alike.Set on a quieter stretch of N Mississippi, this is exactly the kind of place renters are drawn to. Mornings start with a visit to the local café. Evenings end with dinner or drinks and a show at Mississippi Studios. Weekends are spent wandering the local shops along one of Portland’s most iconic streets: Sunlan Lighting, anyone? Nearby Peninsula Park offers rose gardens, open green space, and a true neighborhood gathering place for picnics in the sun.Originally built as a single-family home, the property has been updated to accommodate three units while maintaining its “Old Portland” vibes. Improvements include a newer roof, new siding and exterior paint, updated exterior lighting, Trex deck, vinyl windows, and two water heaters. All three units are accessed from a welcoming front porch, reinforcing that classic bungalow feel that resonates with renters and owners alike.This is more than just a house. It’s a flexible, income-producing property rooted in one of Portland’s most vibrant neighborhoods, where lifestyle and investment combine seamlessly.