Three-Unit Triplex with RV
For Sale
$635,000
1054 NE FALOMA Rd, Portland, OR 97211
MULTI_FAMILY - Portland, OR
Property Size1,700 SF
Lot Size0.79 Acres
Price / SF$373.53
Days on Market145
Property Features for 1054 NE FALOMA Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
multi
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 3, Bedroom 1
Subdivision
BRIDGETON
Elementary school
Faubion
High school
Jefferson
Directions
Gertz Rd No. on 6th right on Faloma Rd to Property
Standard status
Active
APN
R272892
Size
1,700 SF
Lot size
0.79 Acres
Taxes and HOA fees
Tax Description
SOUTH SHORE AC, LOT 7
Tax Annual Amount
6341
Legal Description
SOUTH SHORE AC, LOT 7
Utilities
Heating system
Forced Air
Amenities
greenhouse
shared laundry
drive-through garage
room for chickens or goats
fresh orchard
vegetable garden
Building Details
Year built
1935
Floors in Building
1
Number of units
3
Roof type
Composition
Listing Agency:
eXp Realty, LLC
(888) 814-9613
Listed By:
Nycole Peraza-LaFave · License #18079
(360) 521-6000
Added: Mar 26
Changed: Aug 17
Last Checked: Aug 17 at 5:06AM
MLS# 165466611
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit triplex includes Unit 1 (1BR/1BA), Unit 2 (2BR/2BA), and Unit 3 featuring an RV space with full hookups and parking. The property provides shared laundry and is served by forced-air heating, with a composition roof. Built in 1935, the triplex offers a combined 1,700 square feet of residential space.
Located at 1054 NE Faloma Rd in Portland (Multnomah County), the 0.79-acre lot is described as nearly an acre and includes room for outdoor use such as a greenhouse, garden space, and an orchard. A drive-through garage is also noted, supporting convenient access for residents and RV use. No HOA is indicated in the remarks.
The neighborhood is described as secluded yet connected, with minutes to I-5, Marine Drive, and PDX.
Located at 1054 NE Faloma Rd in Portland (Multnomah County), the 0.79-acre lot is described as nearly an acre and includes room for outdoor use such as a greenhouse, garden space, and an orchard. A drive-through garage is also noted, supporting convenient access for residents and RV use. No HOA is indicated in the remarks.
The neighborhood is described as secluded yet connected, with minutes to I-5, Marine Drive, and PDX.
Key Highlights
- Three‑unit triplex with shared laundry
- Unit 3 includes an RV space with full hookups and parking
- 0.79‑acre lot with greenhouse, garden space, and orchard
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,691
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$473,820
$473.8K
Cap Rate 7%
$338,443
$338.4K
Cap Rate 9%
$263,233
$263.2K
Market Conditions
NOI Build-Up for 1,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$35.7K $21.00/SF
− Vacancy
−$1.9K −$1.09/SF
EGI
$33.8K $19.91/SF
− OpEx
−$10.2K −$5.97/SF
NOI
$23.7K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$473,820
Cap Rate 7%
$338,443
Cap Rate 9%
$263,233
Alternative Uses
Best Use
Multifamily LT 5
$338.4K
$296.1K – $394.9K
NOI $23,691 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$311.8K
$272.9K – $363.8K
NOI $21,828 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$477.4K
$417.7K – $557.0K
NOI $33,418 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
Explore this area
Business Placement
Demographics for 97211, OR
33,762
Population
15,106
Households
2.2
Avg Household Size
38
Median Age
56%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,755
Density / Sq Mi
$109,604
Median Household Income
$59,171
Median Earnings
$1,818
Median Rent
$616,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit triplex on a 0.79-acre lot with shared laundry, a drive-through garage, and an RV space with hookups.
Where is this triplex located?
The property is located at 1054 NE FALOMA Rd Portland, OR.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Three‑unit triplex with shared laundry; Unit 3 includes an RV space with full hookups and parking; 0.79‑acre lot with greenhouse, garden space, and orchard
