Triplex with Shared
1335 NE 119TH Ave, Portland, OR 97220
For Sale
New
$550,000
MultiFamily, Portland, OR
Property Size2,352 SF
Lot Size0.14 Acres
Price / SF$233.84
Days on Market4
Property Features for 1335 NE 119TH Ave
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Subdivision
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Amenities
laundry
storage
Building Details
Year built
Floors in Building
Number of units
Roof type
Listing Agency:
Keller Williams Premier Partners · Keller Williams Realty
(360) 693-3336
Listed By:
Timothy Fowler
(503) 381-3084
Added: Nov 11
Changed: Nov 13
Last Checked: Nov 14 at 12:06AM
MLS# 745174218
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1964, this 2,352-square-foot triplex contains three apartments, each arranged on one level with two bedrooms and one bathroom. Residents share a common area with laundry access and storage. The property sits on a 0.14-acre lot and is zoned R7.
Heating is provided by gas furnaces installed in 2017, and the units have electric hot water tanks. Window air-conditioning units and a composition roof are also noted.
Heating is provided by gas furnaces installed in 2017, and the units have electric hot water tanks. Window air-conditioning units and a composition roof are also noted.
Key Highlights
- Three apartments, each with two bedrooms and one bathroom on a single level
- 2,352‑square‑foot building on a 0.14‑acre lot
- Shared area provides laundry access and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,777
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,540
$655.5K
Cap Rate 7%
$468,243
$468.2K
Cap Rate 9%
$364,189
$364.2K
Market Conditions
NOI Build-Up for 2,352 SF
Gross rent
$49.4K $21.00/SF
− Vacancy
−$2.6K −$1.09/SF
EGI
$46.8K $19.91/SF
− OpEx
−$14.0K −$5.97/SF
NOI
$32.8K $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%
$655,540
Cap Rate 7%
$468,243
Cap Rate 9%
$364,189
Alternative Uses
Best Use
Multifamily LT 5
$468.2K
$409.7K – $546.3K
NOI $32,777 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$431.4K
$377.5K – $503.3K
NOI $30,200 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$660.5K
$577.9K – $770.6K
NOI $46,235 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
901
Businesses Nearby
Explore this area
Business Placement
Demographics for 97220, OR
29,357
Population
12,177
Households
2.4
Avg Household Size
39
Median Age
35%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
3,914
Density / Sq Mi
$68,976
Median Household Income
$41,696
Median Earnings
$1,412
Median Rent
$427,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Triplexes in Portland, OR
Properties on Market for Triplexes in Portland
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three single-level apartments each offer two bedrooms and one bathroom, alongside communal storage space.
Where is this triplex located?
The property is located at 1335 NE 119TH Ave Portland, OR.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Three apartments, each with two bedrooms and one bathroom on a single level; 2,352‑square‑foot building on a 0.14‑acre lot; Shared area provides laundry access and storage
