381 Deering Avenue

About this home

Exceptional opportunity to own a true two-unit in the heart of Portland's sought-after Oakdale neighborhood. Offering over 5,000 square feet across three finished levels, this expansive property seamlessly blends historic character with modern amenities and significant systems updates, creating a rare investment or owner-occupant opportunity. With two spacious residences offering excellent rental income potential, this property provides exceptional flexibility for investors, multigenerational living, or those looking to offset their mortgage while enjoying one of Portland's most desirable neighborhoods. The first-floor residence features three bedrooms, one and a half baths, a generous living room, formal dining room, spacious bedrooms, and a bright bonus sunroom. Occupying the second and third floors, the upper residence lives like a single-family home with a spacious living area, formal dining room, updated kitchen, four generously sized bedrooms, the potential to finish a fifth bedroom, and three inviting sun porches that provide flexible space for relaxing or working from home. Throughout the home, beautifully restored original trim, built-ins, hardwood floors, and timeless architectural details showcase its historic charm, while thoughtful updates to the property's major systems provide peace of mind. Whether you're seeking strong rental income, multi-generational living, or the chance to owner-occupy one of Portland's most impressive two-unit homes, this property offers exceptional space, flexibility, and long-term value in one of the city's most charming neighborhoods.