3123 SE 31st Ave, Portland, OR 97202
MULTI_FAMILY - Portland, OR
- Added:
- Aug 31, 2025
- Days on Market:
- 301
- Last Refresh:
- Jun 27 at 1:06 pm
Property Features for 3123 SE 31st Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R5
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bedroom 6, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 5, Bathroom 1, Bedroom 2
- Standard status
- Active
- APN
- R298853
- Size
- 3,046 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Description
- WAVERLEIGH HTS, BLOCK 19, N 43' OF LOT 10&11
- Tax Annual Amount
- 9257
Utilities
- Heating system
- Zoned, Forced Air
Building Details
- Year built
- 1912
- Floors in Building
- 3
- Number of units
- 3
- Roof type
- Composition
Listing agent Kathryn King License #971100115 (503) 997-9035
Listing office KJK Properties PC 13343 SE Stark St., Suite 200, Portland, OR (503) 772-8825
Listing date Aug 31, 2025
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
- Charming plex built in 1912 with zoned forced‑air heating and a composition roof
- Updated roof plus separate electrical meters for the units
- Units share water, sewer, and garbage
- Grand front porch and stately common entrance with an inviting shared yard
- Attached garage is currently rented with Unit C
- Formerly owner‑occupied until 2021; comprehensive financial records available
Overview
Located at 3123 SE 31st Ave in Portland, Oregon (97202), the property sits on a 0.09-acre lot and is zoned R5. The listing notes the building has been lovingly maintained over time, and comprehensive financial records are available for review.
For tenants and buyers seeking a managed, low-maintenance income setup, the combination of separate electrical metering and shared core utilities provides a straightforward utility configuration. The attached, unit-associated garage supports practical everyday parking or storage needs for Unit C. With a shared yard and established common entry, the layout is designed to support comfortable multi-unit living while keeping operational details documented for decision-making.
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 | $67.6k | $22.20 |
| − Vacancy | −$4.4k | −$1.44 |
| EGI | $63.2k | $20.76 |
| − OpEx | −$19.0k | −$6.23 |
| NOI | $44.3k | $14.53 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.633811
- Latitude
- 45.500111
