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Listed by Realty First • 503-998-4135
$ 825,000
Est. payment | /mo
2,787 SqFt
$ 825,000
Est. payment | /mo
2,787 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,787 sqft
Price per Sqft $296
MLS Listing ID 684280159
Year Built 1958
Annual Tax Amount $12,389
Tax Year 2025
Lot Size 8,712 Sqft
Property Description
Excellent Investment Opportunity in the Highly Desirable Waverleigh Heights Neighborhood!This well-maintained, single-level 2,783 SF triplex, built in 1958, has been owned by only two owners since it was constructed—a rare opportunity to acquire a pride-of-ownership property in one of Southeast Portland's most sought-after neighborhoods.The property features one spacious 2-bedroom, 2-bath unit complete with a mini-split heating and air conditioning system, cozy fireplace, private fenced backyard, and an attached 2-car garage. The two additional units each offer 1 bedroom and 1 bath, providing an excellent mix of unit sizes for a variety of tenants.All three units feature hardwood floors and full individual basements with washer/dryer hookups, offering abundant storage and added convenience. The property's solid construction, timeless layout, and desirable location make it an attractive long-term investment opportunity.The property offers a 4.5% capitalization rate with current gross annual income of $56,340 and a Net Operating Income (NOI) of $37,159, providing investors with immediate income potential and long-term appreciation opportunity in a highly desirable Southeast Portland location.Ideally located just minutes from Cleveland High School Field, nearby bus lines, and the shops, restaurants, and everyday conveniences along SE Powell Boulevard, this property also offers easy access to downtown Portland and surrounding neighborhoods.Whether you're looking to expand your investment portfolio or own a quality multifamily property in a prime Southeast Portland location, this exceptional Waverleigh Heights triplex is an opportunity you won't want to miss.
Location
State OR
County Multnomah
Community Frontyardlandscaping
Area _143
Zoning RM2
Interior
Heating Baseboard, Ceiling
Exterior
Garage Spaces 1.0
Community Features FrontYardLandscaping
Roof Type Composition
Garage No
Building
Lot Description Level
Story 1
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 1
Schools
Elementary Schools Grout
Middle Schools Hosford
High Schools Cleveland
Others
Acceptable Financing Cash, Conventional, StateGILoan, VALoan
Listing Terms Cash, Conventional, StateGILoan, VALoan
