A one-of-a-kind investment opportunity—two adjoining parcels totaling 4.51 forested R5 acres, just minutes from downtown Portland. The owner has improve the property to last the rest of his life. (See Attached documents) This income-generating (NOI 2024 $234,711.17 2025 current track NOI $328,385) retreat offers multiple rental units, a stunning natural setting, and high revenue potential. 8720 SW Katheryn Ln (Pictures 2-10) – A 3,000 sq. ft. remodeled daylight ranch with six bedrooms, two permitted kitchens, and high-quality timber construction on 2.16 acres. Available separately for $1,490,000. 2215 SW 87th Ave (Pictures 11-17) – A 3,270 sq. ft. four-bedroom, three-bath home featuring remodeled bathrooms, stunning wood paneling, and a durable metal roof on 2.35 acres.• Yeti’s Treehouse (Pictures 19-24) – Built on four live trees, featuring a kitchenette, bathroom, outdoor soaking tub, & zipline. Highest-grossing rental.• The Old Barn (Pictures 26-33) – A remodeled barn-themed retreat with a large kitchen area, grand piano, orthopedic bed, hot tub, & unique charm.• Sasquatch Tiny Treehouse (Pictures 35-41) – A cozy woodland retreat with wood paneling, kitchenette, vaulted ceilings, & full bathroom. Right on the water!• Bigfoot Glamping Treehouse (Pictures 43-47) – A 10-ft elevated hideaway overlooking the ravine, perfect for wildlife watching. 2215 SW 87th Ave, including all four short-term rental units, is available for separate purchase at $2,425,000. This thriving rental business has been a labor of love for the owner, generating high revenue. Sale includes six months of consulting to ensure a smooth transition. Whether as a lucrative rental operation, a dream retreat, or a development, this property is truly one of a kind.
Active
$3,600,000
8720 SW Katherine Ln, Portland, OR 97225
15beds
7,910sqft
Est.:
Multi Family
Built in 1954
-- sqft lot
$-- Zestimate®
$455/sqft
$-- HOA
What's special
Remodeled barn-themed retreatHot tubHigh-quality timber constructionElevated hideawayRemodeled bathroomsRemodeled daylight ranchCozy woodland retreat
- 147 days
- on Zillow |
- 472 |
- 19 |
Zillow last checked: 7 hours ago
Listing updated: August 12, 2025 at 08:01am
Listed by:
Adrian Wild 503-380-8492,
Keller Williams Realty Professionals
Source: RMLS (OR),MLS#: 192718413

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 15
- Bathrooms: 8
- Full bathrooms: 8
Heating
- Forced Air, Wood Stove, Fireplace(s)
Cooling
- Central Air, Air Conditioning
Appliances
- Included: Dishwasher, Microwave, Refrigerator, Gas Water Heater
Features
- Flooring: Hardwood
- Basement: Daylight
Interior area
- Total structure area: 7,910
- Total interior livable area: 7,910 sqft
Property
Parking
- Total spaces: 2
- Parking features: Driveway, Garage
- Garage spaces: 2
- Has uncovered spaces: Yes
Features
- Patio & porch: Deck
- Spa features: Community
- Has view: Yes
- View description: Creek/Stream, Trees/Woods, Valley
- Has water view: Yes
- Water view: Creek/Stream
- Waterfront features: Creek, Stream
- Body of water: Golf Creek
Lot
- Size: 4.51 Acres
- Features: Hilly, Trees, Wooded, Acres 3 to 5
Details
- Additional parcels included: R67616
- Parcel number: R67625
- Zoning: R5
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Wood Siding
- Foundation: Concrete Perimeter
- Roof: Rubber
Condition
- Updated/Remodeled
- Year built: 1954
Utilities & green energy
- Gas: Gas
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Central Air, Front Yard Landscaping, Spa Hot Tub
- Subdivision: West Slope
HOA
- Has HOA: No
Location
- Region: Portland
Financial & listing details
- Price per square foot: $455/sqft
- Tax assessed value: $514,330
- Annual tax amount: $14,580
- Date on market: 3/19/2025
- Listing terms: Cash,Conventional,Owner Will Carry
- Total actual rent: 23256
- Road surface type: Gravel
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