Situated on a 7,840-square-foot lot in Portland's desirable Deering Center neighborhood, this well-maintained two-unit multifamily offers about 3,788 square feet of finished living space and an appealing opportunity for owner-occupants and investors alike. Each unit features 3 bedrooms, a full bath, a kitchen, and a living room, while the second-floor unit extends to a fully finished third floor, creating flexibility for an expansive 9-room residence with 4 bedrooms and 2 full baths. 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. 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, offering exceptional flexibility as part of the upper unit. Current income does not reflect the property's future income potential. The owner occupies the1st-floor unit, and the 2nd-floor unit is currently vacant. Upon closing, both vacant units would provide any new owner with immediate flexibility for occupancy or future rental use. Buyers interested in exploring alternative future uses of the 3rd-floor space (an additional unit) are encouraged to conduct their own due diligence regarding any required modifications and City of Portland approvals.