Historic Three-Unit
For Sale
$625,000
1903 SE 12TH AVE, Portland, OR 97214
Three separate units provide a flexible residential configuration in Southeast Portland’s established urban setting.
Property Size2,544 SF
Days on Market189
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Property Features for 1903 SE 12TH AVE
General Information
Standard status
Active
Size
2,544 SF
Property subtype
MULTI_FAMILY
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,485
Building Details
Building Size
2,544 SF
Year Built
1906
Listing Agency:
The Kelly Group Real Estate
Listed By:
Kelly Hagglund · License #201219819
(503) 538-4531
Source:
Eleeterealestate
Added: Apr 10
Changed: Oct 3
Last Checked: Oct 15 at 7:39AM
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 The Kelly Group Real Estate
Investment Insights
Based on property information with market context.
Built in 1906, this 2,544-square-foot triplex contains three separate units and retains historic character. The property offers a configuration suited to multigenerational living or residential income use, with restoration-oriented improvements left to the next owner.
The property is located near Ladd Circle Park and its rose garden squares, with Hawthorne and Division just blocks away. The surrounding setting includes tree-lined streets, mature trees, craftsman homes, coffee shops, bistros, taprooms, and local events within the broader neighborhood context.
The property is located near Ladd Circle Park and its rose garden squares, with Hawthorne and Division just blocks away. The surrounding setting includes tree-lined streets, mature trees, craftsman homes, coffee shops, bistros, taprooms, and local events within the broader neighborhood context.
Key Highlights
- Three separate residential units
- 2,544 square feet of property size
- Built in 1906
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,452
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$709,040
$709.0K
Cap Rate 7%
$506,457
$506.5K
Cap Rate 9%
$393,911
$393.9K
Market Conditions
NOI Build-Up for 2,544 SF
Gross rent
$53.4K $21.00/SF
− Vacancy
−$2.8K −$1.09/SF
EGI
$50.6K $19.91/SF
− OpEx
−$15.2K −$5.97/SF
NOI
$35.5K $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%
$709,040
Cap Rate 7%
$506,457
Cap Rate 9%
$393,911
Alternative Uses
Best Use
Multifamily LT 5
$506.5K
$443.2K – $590.9K
NOI $35,452 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$466.6K
$408.3K – $544.4K
NOI $32,665 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$714.4K
$625.1K – $833.5K
NOI $50,009 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,594
Businesses Nearby
Explore this area
Business Placement
Demographics for 97214, OR
28,403
Population
15,948
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
9,794
Density / Sq Mi
$86,879
Median Household Income
$55,643
Median Earnings
$1,628
Median Rent
$733,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate units provide a flexible residential configuration in Southeast Portland’s established urban setting.
Where is this triplex located?
The property is located at 1903 SE 12TH AVE Portland, OR.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Three separate residential units; 2,544 square feet of property size; Built in 1906
