519 Vermont St Portland, OR 97239

Two homes on one tax lot in Portland's John's Landing corridor is not a common inventory event. In this zip code, that structure rarely surfaces. This is a real window of opportunity.The primary residence runs 2,600-plus square feet across three levels. Main floor delivers hardwood, a gas fireplace, and 20-foot ceilings with floor-to-ceiling windows. Primary suite is on the main level, ensuite with walk-in shower. Two additional ensuite bedrooms and a dedicated office upstairs. The rooftop terrace has unobstructed territorial views and a direct Mt. Hood sightline.The corner structure is a fully separate 1,100-square-foot, two-bedroom, one-bath residence with independent access. This is not a basement conversion. It is a standalone second home on the same RM1-zoned tax parcel, which carries real implications for financing strategy and long-term asset flexibility.OHSU's main campus is under one mile via Terwilliger. South Waterfront tram terminus is under 10 minutes. Willamette River trail access is direct. I-5 via Barbur puts downtown Portland under 8 minutes off-peak.At $839,900 across 3,718 square feet of livable space in two structures, the blended cost is $226 per square foot. Factor in the income offset capacity of the second unit and the data-driven value becomes operational, not speculative.This asset is built for a long-term ownership strategy. If that fits your objective, contact your agent before the next price adjustment resets the conversation.