Building Details

Year Built 1980

Buildings 1

Listing Agency: RE/MAX Equity Group

Listed By: Cindy Smith · License #201225025 Show Phone

Source: Evokepropertypartners

Added: Jul 29 Changed: Oct 2 Last Checked: Oct 15 at 3:52AM

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Investment Insights

Based on property information with market context.

This 2,716-square-foot triplex, built in 1980, includes three single-level units, each with a private fenced yard, covered patio, and washer/dryer hookup. Interior improvements include LVP flooring and vinyl windows throughout, while one unit features granite countertops and stainless-steel kitchen appliances. Two units also provide storage sheds for resident use. Exterior paint was completed in 2021, and the property includes 7 off-street parking spaces.

The property occupies a 0.25-acre lot on a cul-de-sac at 1700 NE 231st Ct in Wood Village, Oregon. Its setting provides access to I-84, bus lines, public parks, dining, retail, and outlet shopping. The property has remained under the same ownership for over 40 years, and the 2026 projected cap rate is 6.41.

Key Highlights

• 2,716‑square‑foot triplex built in 1980
• Three single‑level units with fenced yards, covered patios, and washer/dryer hookups
• 0.25‑acre cul‑de‑sac lot in Wood Village, Oregon

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,885

Cap Rate

4.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$797,700 $797.7K

Cap Rate 7%

$569,786 $569.8K

Cap Rate 9%

$443,167 $443.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,716 SF

Gross rent

$60.3K $22.20/SF

− Vacancy

−$3.3K −$1.22/SF

EGI

$57.0K $20.98/SF

− OpEx

−$17.1K −$6.29/SF

NOI

$39.9K $14.69/SF

Area

Multnomah County, OR

Vacancy

5.50%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$797,700

Cap Rate 7%

$569,786

Cap Rate 9%

$443,167

Alternative Uses

Best Use

Multifamily LT 5

$569.8K

$498.6K – $664.8K (±1% cap)

NOI $39,885 @ 7.0% cap · market cap 4.86%

Second Best

Apartment 5plus

$498.2K

$435.9K – $581.2K (±1% cap)

NOI $34,873 @ 7.0% cap · market cap 4.25%

Theoretical Best

Office A

$733.1K

$641.5K – $855.3K (±1% cap)

NOI $51,318 @ 7.0% cap · market cap 6.26%

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

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Law Firm (Bike/Boat/Book/etc) Store Accounting Firm Veterinary Clinic Florist Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

583

Businesses Nearby

Explore this area Business Placement

Demographics for 97060, OR

21,792

Population

7,823

Households

2.8

Avg Household Size

38

Median Age

26%

College-Educated

86%

High-School Grad

17.5 sq mi

ZIP Area

1,245

Density / Sq Mi

$84,164

Median Household Income

$42,162

Median Earnings

$1,560

Median Rent

$425,700

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Frequently Asked Questions

What type of property is this?

Triplex - Three single-level units offer private fenced yards, covered patios, laundry hookups, and updated interiors.

Where is this triplex located?

The property is located at 1700 NE 231st Ct Wood Village, OR.

What is the asking price?

The asking price for this property is $819,900.

What are key features of this property?

This property features: 2,716‑square‑foot triplex built in 1980; Three single‑level units with fenced yards, covered patios, and washer/dryer hookups; 0.25‑acre cul‑de‑sac lot in Wood Village, Oregon