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Listed by Rarebird Real Estate
$875,000
Est. payment /mo
2,736 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,736 sqft
Price per Sqft $319
Subdivision Richmond
MLS Listing ID 715983655
HOA Y/N No
Year Built 1959
Annual Tax Amount $12,727
Tax Year 2025
Lot Size 6,098 Sqft
Property Description
A rare offering in one of Southeast Portland's most established rental corridors: a well-cared-for triplex sold together with the adjacent triplex, creating a six-unit package under single ownership. Both buildings must close concurrently.What separates these units from typical Portland triplexes is the private space. Every unit comes with its own garage and its own basement, accessible to that tenant alone. Add central air conditioning and original hardwood floors in each unit, and these rent like single-family homes rather than apartments.Most units have already been updated. New water service lines have been run to the building. Landscaping is meticulously kept, and the shared courtyard gives the property a calm, residential character that keeps turnover low and referrals steady.The expense structure favors ownership. Water, sewer, and gas are all billed directly to tenants. Trash is the owner's only utility obligation.In-place rents are running roughly 10.63% under market, leaving clear organic upside as units turn. Combined with light operating costs and minimal deferred maintenance, the result is a stabilized asset with room to grow NOI without a heavy capital plan.Location, condition, and unit configuration rarely line up like this at this size.Must sell in conjunction with the neighboring triplex. All offers subject to interior inspection. Please do not disturb tenants.
Location
State OR
County Multnomah
Area _143
Zoning R5
Rooms
Basement Unfinished
Interior
Heating Forced Air
Cooling Central Air
Exterior
Garage Spaces 3.0
Roof Type Composition,Shingle
Garage No
Building
Lot Description Private, Secluded
Story 1
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
Listing Terms Cash, Conventional
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Altura Real Estate
Owner/Admin | License ID: 201264063
Owner/Admin License ID: 201264063