Building Details

Year Built 1956

Tenancy Multi

Listing Agency: I5 Real Estate

Listed By: The Amanda Hoff Group Show Phone

Source: Theamandahoffgroup

Added: Mar 13 Changed: Oct 26 Last Checked: Oct 26 at 3:20PM

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Investment Insights

Based on property information with market context.

Freshly renovated duplex with two dwelling units on a large .33-acre lot, featuring fully fenced back yards. The property is offered as income-producing residential housing and may also support owner-occupancy with additional dwelling space.

The duplex is located at 12373 Southeast 122nd Avenue in Happy Valley, Oregon. Public remarks note the related address on the other side of the duplex is 12377 SE 122nd Ave.

Additional exterior improvements include a carport and plenty of extra parking for residents and guests.

Key Highlights

• Freshly renovated duplex with 2 stories and a finished full basement
• Cement siding and stone exterior
• Large 0.33‑acre lot with fully fenced back yards

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,679

Cap Rate

4.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$673,580 $673.6K

Cap Rate 7%

$481,129 $481.1K

Cap Rate 9%

$374,211 $374.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,623 SF

Gross rent

$64.5K $24.60/SF

− Vacancy

−$3.3K −$1.25/SF

EGI

$61.2K $23.35/SF

− OpEx

−$27.6K −$10.51/SF

NOI

$33.7K $12.84/SF

Area

Clackamas County, OR

Vacancy

5.10%

Lease Rate

$24.60 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$673,580

Cap Rate 7%

$481,129

Cap Rate 9%

$374,211

Alternative Uses

Best Use

Apartment 5plus

$481.1K

$421.0K – $561.3K (±1% cap)

NOI $33,679 @ 7.0% cap · market cap 4.08%

Second Best

Multifamily LT 5

$470.7K

$411.9K – $549.1K (±1% cap)

NOI $32,948 @ 7.0% cap · market cap 3.99%

Theoretical Best

Office A

$708.0K

$619.5K – $826.0K (±1% cap)

NOI $49,561 @ 7.0% cap · market cap 6.01%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Lease Details

2

Residential units

Multi-tenant

Tenancy

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

443

Businesses Nearby

Explore this area Business Placement

Demographics for 97086, OR

32,612

Population

13,440

Households

2.4

Avg Household Size

39

Median Age

43%

College-Educated

95%

High-School Grad

10.5 sq mi

ZIP Area

3,106

Density / Sq Mi

$102,591

Median Household Income

$49,939

Median Earnings

$1,598

Median Rent

$655,700

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Freshly renovated duplex on a large lot with fully fenced back yards and a carport.

Where is this duplex located?

The property is located at 12373 SE 122nd AVE Happy Valley, OR.

What is the asking price?

The asking price for this property is $825,000.

What are key features of this property?

This property features: Freshly renovated duplex with 2 stories and a finished full basement; Cement siding and stone exterior; Large 0.33‑acre lot with fully fenced back yards