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Altura Real Estate

admin@alturaoregon.com +1(541) 246-8677

Listed by Realty First • 503-998-4135

$825,000

Est. payment - /mo

2,787 SqFt

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UPDATED:

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

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Altura Real Estate

+1(541) 246-8677

Owner/Admin | License ID: 201264063

Owner/Admin License ID: 201264063

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3392 SE WAVERLEIGH BLVD Portland, OR 97202

Altura Real Estate

Key Details

Location

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOLS & PROPERTIES

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3392 SE WAVERLEIGH BLVD