Remodeled Triplex With Separate
For Sale
$749,999
1326 SW 12TH AVE, Portland, OR 97201
Three-unit property with mixed residential and commercial zoning, rear parking, and a large laundry room.
Property Size3,376 SF
Days on Market14
Property Features for 1326 SW 12TH AVE
General Information
Standard status
Active
Size
3,376 SF
Property subtype
MULTI_FAMILY
Taxes and HOA fees
Annual Taxes
$7,979
Building Details
Building Size
3,376 SF
Year Built
1890
Listing Agency:
Realty One Group Pacifica
(503) 864-7664
Listed By:
Sandeep Sagar
(503) 864-7664
Source:
Eleeterealestate
Added: Aug 11
Changed: Aug 21
Last Checked: Aug 23 at 8:44AM
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 Realty One Group Pacifica
Investment Insights
Based on property information with market context.
This 1890-built triplex contains three units, each accessed through its own entrance. Recent improvements include a new roof, energy-efficient heat pumps, gutters, updated plumbing, water-resistant flooring, interior paint, and replacement cabinets. A large laundry room includes a washer and dryer, while the rear area accommodates parking for 4 to 5 cars.
The property is located in downtown Portland near Portland State University, transit, restaurants, and shopping. Zoning is identified as residential and commercial, with the RXd designation supporting high-density multi-dwelling development. The source information also identifies potential for office use, subject to buyer due diligence and applicable requirements.
The property is located in downtown Portland near Portland State University, transit, restaurants, and shopping. Zoning is identified as residential and commercial, with the RXd designation supporting high-density multi-dwelling development. The source information also identifies potential for office use, subject to buyer due diligence and applicable requirements.
Key Highlights
- Three units with separate entrances
- 1890‑built property with new roof, heat pumps, gutters, and updated plumbing
- Interior updates include water‑resistant flooring, paint, and cabinets
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
$47,047
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
6.27%
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%
$940,940
$940.9K
Cap Rate 7%
$672,100
$672.1K
Cap Rate 9%
$522,744
$522.7K
Market Conditions
NOI Build-Up for 3,376 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
$70.9K $21.00/SF
− Vacancy
−$3.7K −$1.09/SF
EGI
$67.2K $19.91/SF
− OpEx
−$20.2K −$5.97/SF
NOI
$47.0K $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%
$940,940
Cap Rate 7%
$672,100
Cap Rate 9%
$522,744
Alternative Uses
Best Use
Multifamily LT 5
$672.1K
$588.1K – $784.1K
NOI $47,047 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$619.3K
$541.9K – $722.5K
NOI $43,348 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$948.1K
$829.6K – $1.11M
NOI $66,364 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9,138
Businesses Nearby
Explore this area
Business Placement
Demographics for 97201, OR
17,352
Population
10,748
Households
1.6
Avg Household Size
34
Median Age
67%
College-Educated
95%
High-School Grad
1.9 sq mi
ZIP Area
9,133
Density / Sq Mi
$67,074
Median Household Income
$48,101
Median Earnings
$1,565
Median Rent
$648,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with mixed residential and commercial zoning, rear parking, and a large laundry room.
Where is this triplex located?
The property is located at 1326 SW 12TH AVE Portland, OR.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: Three units with separate entrances; 1890‑built property with new roof, heat pumps, gutters, and updated plumbing; Interior updates include water‑resistant flooring, paint, and cabinets
