Three-Unit Residential Income
18635 Southeast Division Street Gresham, OR 97030
For Sale
$720,000
Triplex with two 2-bedroom units and one larger 3-bedroom unit, plus parking for up to nine vehicles.
Property Size2,944 SF
Price / SF$244.57
Days on Market132
Property Features for 18635 Southeast Division Street
General Information
- Standard status
- Active
- Size
- 2,944 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1977
Listing Agency:
Barb Sellers & Assoc. Realty
(503) 666-2332
Listed By:
Tim Sellers · License #880100065
(503) 666-2332
Source:
Compass
Added: Mar 18
Changed: Jul 23
Last Checked: Jul 26 at 11:17AM
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 Barb Sellers & Assoc. Realty
Investment Insights
Based on property information with market context.
This triplex offers a flexible residential income setup with three separate units. Two units feature 2 bedrooms and 1 bathroom, each at approximately 750 square feet. The third unit is larger, with 3 bedrooms and 2 bathrooms and approximately 1,444 square feet, supporting owner-occupancy or expanded rental options.
The property is located on Southeast Division Street in Gresham, with easy access to public transportation. It also sits near the Springwater Trail, providing convenient access to outdoor recreation and nearby amenities.
Off-street parking is available for up to nine vehicles, helping support tenants and visitors. Overall, the layout provides a practical mix of unit sizes within a single, manageable multifamily offering.
The property is located on Southeast Division Street in Gresham, with easy access to public transportation. It also sits near the Springwater Trail, providing convenient access to outdoor recreation and nearby amenities.
Off-street parking is available for up to nine vehicles, helping support tenants and visitors. Overall, the layout provides a practical mix of unit sizes within a single, manageable multifamily offering.
Key Highlights
- Triplex with two 2‑bedroom, 1‑bath units (approx. 750 SF each) and one 3‑bedroom, 2‑bath unit (approx. 1,444 SF)
- Built in 1977 with concrete perimeter foundation and crawl space
- Ample off‑street parking with space for up to 9 vehicles
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.3k | $19.80 |
| − Vacancy | −$2.4k | −$0.83 |
| EGI | $55.8k | $18.97 |
| − OpEx | −$16.8k | −$5.69 |
| NOI | $39.1k | $13.28 |
2,944 SF · lease $19.80/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$558.4K
$488.6K – $651.5K
NOI $39,090 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$502.0K
$439.3K – $585.7K
NOI $35,141 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$672.7K
$588.7K – $784.9K
NOI $47,092 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Triplex with two 2-bedroom units and one larger 3-bedroom unit, plus parking for up to nine vehicles.
Where is this triplex located?
The property is located at 18635 Southeast Division Street Gresham, OR.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Triplex with two 2‑bedroom, 1‑bath units (approx. 750 SF each) and one 3‑bedroom, 2‑bath unit (approx. 1,444 SF); Built in 1977 with concrete perimeter foundation and crawl space; Ample off‑street parking with space for up to 9 vehicles
