Triplex with Detached
For Sale
$995,000
4249 SE STARK St, Portland, OR 97215
MultiFamily, Portland, OR
Property Size3,777 SF
Price / SF$263.44
Days on Market12
Property Features for 4249 SE STARK St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 4
Subdivision
Laurehurst,Tabor
Elementary school
Glencoe
Middle school
Mt Tabor
High school
Franklin
Directions
Stark and or Oak Ct Alley Way
Standard status
Active
APN
R203968
Size
3,777 SF
Taxes and HOA fees
Tax Description
LAURELHURST, BLOCK 97, LOT 16
Tax Annual Amount
10118
Legal Description
LAURELHURST, BLOCK 97, LOT 16
Utilities
Heating system
Radiant, Forced Air
Cooling system
Window Unit(s), Central Air
Building Details
Year built
1923
Floors in Building
3
Number of units
3
Roof type
Composition
Listing Agency:
Keller Williams Realty Professionals
(503) 546-9955
Listed By:
Beth Hamilton
(503) 515-1569
Added: Sep 28
Changed: Oct 9
Last Checked: Oct 9 at 11:06AM
MLS# 470461748
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 3,777-square-foot triplex dates to 1923 and includes a detached accessory dwelling unit and a permitted apartment on the lower level. The apartment has its own entrance, kitchen, bathroom, and living area. The main residence features hardwood floors, built-ins, French doors, high ceilings, crown molding, and a fireplace. Its kitchen was remodeled in 2023, and the property’s systems have been updated. A den, additional upper-level space, and unfinished area offer further flexibility within the existing layout.
Off-street parking is accessed from a private street behind the property. Laurelhurst Park is a few blocks away, with restaurants, shops, theaters, and cafés in the nearby Hawthorne, Belmont, Division, and SE 28th areas. The property is zoned R5 and has a Walk Score of 85 and Bike Score of 97.
Off-street parking is accessed from a private street behind the property. Laurelhurst Park is a few blocks away, with restaurants, shops, theaters, and cafés in the nearby Hawthorne, Belmont, Division, and SE 28th areas. The property is zoned R5 and has a Walk Score of 85 and Bike Score of 97.
Key Highlights
- 3,777 square feet; built in 1923
- Detached accessory dwelling unit and permitted lower‑level apartment
- Apartment includes a separate entrance, kitchen, bathroom, and living area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,635
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,052,700
$1.1M
Cap Rate 7%
$751,929
$751.9K
Cap Rate 9%
$584,833
$584.8K
Market Conditions
NOI Build-Up for 3,777 SF
Gross rent
$79.3K $21.00/SF
− Vacancy
−$4.1K −$1.09/SF
EGI
$75.2K $19.91/SF
− OpEx
−$22.6K −$5.97/SF
NOI
$52.6K $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 Rate 5%
$1,052,700
Cap Rate 7%
$751,929
Cap Rate 9%
$584,833
Alternative Uses
Best Use
Multifamily LT 5
$751.9K
$657.9K – $877.3K
NOI $52,635 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$692.8K
$606.2K – $808.3K
NOI $48,497 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$1.06M
$928.1K – $1.24M
NOI $74,247 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,116
Businesses Nearby
Explore this area
Business Placement
Demographics for 97215, OR
18,221
Population
7,855
Households
2.3
Avg Household Size
40
Median Age
64%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
7,922
Density / Sq Mi
$114,361
Median Household Income
$62,704
Median Earnings
$1,587
Median Rent
$658,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - A permitted lower-level apartment and separate accessory dwelling provide multiple independent living areas.
Where is this triplex located?
The property is located at 4249 SE STARK St Portland, OR.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 3,777 square feet; built in 1923; Detached accessory dwelling unit and permitted lower‑level apartment; Apartment includes a separate entrance, kitchen, bathroom, and living area
