Triplex with On-Site
For Sale
$730,000
1250 Se 46th Ave, Portland, OR 97215
Three one-bedroom apartments include basement storage, tuck-under garages, and a shared laundry area.
Property Size2,893 SF
Price / SF$252.33
Days on Market16
Property Features for 1250 Se 46th Ave
General Information
Standard status
Active
Size
2,893 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Amenities
on-site laundry
dedicated basement storage
tuck under garages
Building Details
Year Built
1951
Listing Agency:
Opt
(503) 810-2219
Listed By:
Brian Porter · License #200305174
Source:
Viewportlandrealestate
Added: Aug 16
Changed: Aug 28
Last Checked: Aug 30 at 5:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Opt
Investment Insights
Based on property information with market context.
This 2,893-square-foot triplex, built in 1951, contains three one-bedroom, one-bath residences. Interior features include hardwood flooring and a fireplace in unit 1260. Each apartment has dedicated basement storage, while the property also provides on-site laundry and tuck-under garage parking.
The property is at 1250 SE 46th Ave in Portland’s Sunnyside neighborhood, approximately 2 blocks from Hawthorne Blvd. Its three-unit configuration supports a range of ownership arrangements, including occupying one residence while leasing the others, as described in the property information.
The property is at 1250 SE 46th Ave in Portland’s Sunnyside neighborhood, approximately 2 blocks from Hawthorne Blvd. Its three-unit configuration supports a range of ownership arrangements, including occupying one residence while leasing the others, as described in the property information.
Key Highlights
- Three 1‑bedroom, 1‑bath units in a triplex configuration
- 2,893 SF property built in 1951
- Approximately 2 blocks from Hawthorne Blvd in Sunnyside
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
$40,316
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
5.52%
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%
$806,320
$806.3K
Cap Rate 7%
$575,943
$575.9K
Cap Rate 9%
$447,956
$448.0K
Market Conditions
NOI Build-Up for 2,893 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
$60.8K $21.00/SF
− Vacancy
−$3.2K −$1.09/SF
EGI
$57.6K $19.91/SF
− OpEx
−$17.3K −$5.97/SF
NOI
$40.3K $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%
$806,320
Cap Rate 7%
$575,943
Cap Rate 9%
$447,956
Alternative Uses
Best Use
Multifamily LT 5
$575.9K
$504.0K – $671.9K
NOI $40,316 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$530.7K
$464.3K – $619.1K
NOI $37,146 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$812.4K
$710.9K – $947.8K
NOI $56,870 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,012
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
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 one-bedroom apartments include basement storage, tuck-under garages, and a shared laundry area.
Where is this triplex located?
The property is located at 1250 Se 46th Ave Portland, OR.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: Three 1‑bedroom, 1‑bath units in a triplex configuration; 2,893 SF property built in 1951; Approximately 2 blocks from Hawthorne Blvd in Sunnyside
