Situated on a 7, 840-square-foot lot in Portland’s desirable Deering Center neighborhood, this well-maintained two-unit multifamily offers approximately 3, 788 square feet of finished living space and an appealing opportunity for both owner-occupants and investors. Each unit features 3 bedrooms, a full bath, kitchen, and living room, while the second-floor unit extends to the fully finished third floor, creating the flexibility for an expansive 9-room residence with 4 bedrooms and 2 full baths—ideal for an owner seeking additional living, work-from-home, or guest space. Major capital improvements are complete, including brand-new vinyl siding, rebuilt porches with composite decking, modern vinyl double-pane windows, and a recent conversion to natural gas with new Buderus boilers and gas water heaters. These significant upgrades allow the next owner to enjoy the property without immediately taking on many of the major exterior and mechanical projects common with multifamilies. The property also features a detached two-car garage with generous walk-up storage above, ample off-street parking, and an invisible pet fence surrounding the backyard. The finished third floor includes a kitchen with appliances, living room, family room, full bath, and large bedroom, providing exceptional flexibility as part of the upper unit. Buyers interested in exploring alternative future uses of this space (an additional unit) are encouraged to conduct their own due diligence regarding any required modifications and City of Portland approvals. Current income does not reflect the property’s potential future income. Owner-occupied 1st-floor unit generates no rent; the at-will 2nd-floor tenant pays $1, 400/month, below prevailing rents for comparables. Future income could change materially if the 1st-floor unit is rented and/or existing rents are adjusted over time in accordance with applicable requirements.