Classic 1973 garden-style triplex on a 7,500 SF corner lot in Portland’s Central Northeast submarket, fully leased, professionally managed, and operating at stabilized occupancy. Three large 2-bed/2-bath units average about 1,457 SF and function more like townhomes, with in-unit laundry, dishwashers, full appliance packages, and private patios/balconies, offering above-average unit… Read More size versus typical competing stock. Six on-site parking spaces (three attached garages plus three paved surface stalls), level topography, and average, easy-to-maintain landscaping support long-term operating efficiency.For investors, the asset is 100% occupied with stable tenancy, clean rent rolls, and professionally prepared financials in a Central Northeast submarket where occupancy and rent growth have shown consistent long-term performance and vacancy is concluded at just 3% in the appraisal’s underwriting. The triplex is zoned R5 with legal, conforming multifamily use and is appraised at a Market Value As Is of $600,000 ($200,000 per unit), supported by both income capitalization and sales comparison approaches, providing a clear basis for pricing and financing. Proximity to I-84, TriMet, and established retail and employment nodes helps sustain renter demand and supports durable cash flow and long-term value appreciation. Read Less
Listing courtesy of ELEETE Real Estate.
Listing Snapshot
Days Online
0
Last Updated
Square Ft.
4,371
Lot Size
0.17 Acres
Year Built
1973
MLS Number
586637231
30 Days Snapshot Of 97218
$431k
-11%
(avg) sold price
11
-42%
homes sold
57
+128%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Road Surface Type: Paved
Basement
Basement: CrawlSpace
Building
Building Area Total: 4371, Built in 1973, Storage: Garage, Stories: 2, Unit Type Type: UnitTypeType1, UnitTypeType2
All information provided is deemed reliable but is not guaranteed and should be independently verified.
This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
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Erika George and Kari McGee
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