Portland Triplex in Prime
1903 SE 12TH Ave, Portland, OR 97214
MULTI_FAMILY - Portland, OR
Property size:
2,544 SFLot size:
0.08 AcresPrice / SF:
$255/SF- Added:
- Apr 10, 2026
- Days on Market:
- 55
- Last Refresh:
- Jun 3 at 7:06 am
Property Features for 1903 SE 12TH Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM2
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bedroom 6, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 3, Bedroom 5, Bedroom 4
- Standard status
- Active
- APN
- R276147
- Size
- 2,544 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Description
- STEPHENS ADD, BLOCK 125, E 70' OF LOT 8
- Tax Annual Amount
- 7485
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1906
- Floors in Building
- 3
- Number of units
- 3
- Roof type
- Shingle, Composition
Listing agent Kelly Hagglund License #201219819 (503) 538-4531
Listing office The Kelly Group Real Estate 215 N Blaine St, Newberg, OR (503) 538-4531
Listing date Apr 10, 2026
MLS# 369314415
Listing URL
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.
HighLights
- Three separate units offer income potential or multigenerational living.
- Prime location near Ladd Circle Park, Hawthorne, and Division.
- Historic character and solid structure provide opportunity for restoration and equity building.
- Walkable neighborhood with easy access to coffee shops, bistros, and local events.
- Situated among craftsman homes and mature trees in a charming, established area.
- Built in 1906 with forced air heating and shingle/composition roof.
Overview
Located in one of Portland's most iconic neighborhoods, this property features three separate units. It is suitable for multigenerational living, rental income, or a creative investment project. The property has solid bones and historic character. Set moments from Ladd Circle Park and its rose garden squares, the location offers a classic Southeast Portland lifestyle. The property is situated on tree-lined streets, blocks from Hawthorne and Division, with coffee shops, bistros, taprooms, and local events nearby. Surrounded by craftsman homes and mature trees, this property offers a chance to restore something special in a neighborhood known for its charm and walkability. The lot size is 0.08 acres. The property size is 2544 square feet. The zoning is RM2.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $53.4k | $21.00 |
| − Vacancy | −$2.8k | −$1.09 |
| EGI | $50.6k | $19.91 |
| − OpEx | −$15.2k | −$5.97 |
| NOI | $35.5k | $13.94 |
2,544 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$506.5K
$443.2K – $590.9K
NOI $35,452 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$466.6K
$408.3K – $544.4K
NOI $32,665 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$714.4K
$625.1K – $833.5K
NOI $50,009 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.653961
- Latitude
- 45.509214
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Triplex in iconic neighborhood, ideal for investment or multigenerational living.
Where is this triplex located?
The property is located at 1903 SE 12TH Ave Portland, OR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three separate units offer income potential or multigenerational living.; Prime location near Ladd Circle Park, Hawthorne, and Division.; Historic character and solid structure provide opportunity for restoration and equity building.
