Split-Level Triplex with Private
For Sale
$649,900
201 SE 176TH Pl, Portland, OR 97233
MultiFamily, Portland, OR
Property Size3,381 SF
Lot Size0.27 Acres
Price / SF$192.22
Days on Market50
Property Features for 201 SE 176TH Pl
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MDR24
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 3, Bedroom 5, Bedroom 3, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 6, Bedroom 1
Subdivision
ROCKWOOD
Elementary school
Alder
Middle school
Centennial
High school
Reynolds
Directions
BURNSIDE, SOUTH ON 176 PL, ON RIGHT
Standard status
Active
APN
R179127
Size
3,381 SF
Lot size
0.27 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
HERBOWE, BLOCK 1, LOT 3
Tax Annual Amount
7449
Legal Description
HERBOWE, BLOCK 1, LOT 3
Utilities
Heating system
Baseboard
Amenities
private deck
garage
additional off-street parking
backyard
Building Details
Year built
1977
Floors in Building
2
Number of units
3
Roof type
Composition
Buildings
1
Listing Agency:
MORE Realty
(503) 353-6673
Listed By:
Jeff Stephens · License #201237728
(503) 869-7303
Added: Sep 14
Changed: Nov 2
Last Checked: Nov 2 at 4:06PM
MLS# 171257531
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.
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Investment Insights
Based on property information with market context.
This 3,381-square-foot triplex includes three split-level units designed with living areas and kitchens on the upper level and bedrooms and bathrooms below. Each unit has a private deck, garage, and additional off-street parking, with a grassy backyard providing shared outdoor space. Large bay windows bring natural light into the living areas.
Built in 1977, the property has baseboard heating and a composition roof. Updates include newer exterior paint and flooring and carpet improvements in multiple areas. Unit 205 includes a mini-split HVAC system with air conditioning, stainless steel appliances, a remodeled bathroom, and upgraded flooring. All three units are occupied, and the property is zoned MDR24.
The property is near Burnside Avenue and MAX light rail access in Portland, providing a residential setting with access to nearby transportation.
Built in 1977, the property has baseboard heating and a composition roof. Updates include newer exterior paint and flooring and carpet improvements in multiple areas. Unit 205 includes a mini-split HVAC system with air conditioning, stainless steel appliances, a remodeled bathroom, and upgraded flooring. All three units are occupied, and the property is zoned MDR24.
The property is near Burnside Avenue and MAX light rail access in Portland, providing a residential setting with access to nearby transportation.
Key Highlights
- 3,381‑square‑foot triplex with three occupied units
- 0.27‑acre lot with grassy backyard and additional off‑street parking
- Split‑level floor plans with private decks and individual garages
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,116
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$942,320
$942.3K
Cap Rate 7%
$673,086
$673.1K
Cap Rate 9%
$523,511
$523.5K
Market Conditions
NOI Build-Up for 3,381 SF
Gross rent
$71.0K $21.00/SF
− Vacancy
−$3.7K −$1.09/SF
EGI
$67.3K $19.91/SF
− OpEx
−$20.2K −$5.97/SF
NOI
$47.1K $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%
$942,320
Cap Rate 7%
$673,086
Cap Rate 9%
$523,511
Alternative Uses
Best Use
Multifamily LT 5
$673.1K
$589.0K – $785.3K
NOI $47,116 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$620.2K
$542.7K – $723.5K
NOI $43,412 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$949.5K
$830.8K – $1.11M
NOI $66,463 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
686
Businesses Nearby
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Business Placement
Demographics for 97233, OR
41,625
Population
14,844
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
80%
High-School Grad
4.6 sq mi
ZIP Area
9,049
Density / Sq Mi
$54,886
Median Household Income
$37,216
Median Earnings
$1,352
Median Rent
$385,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied units feature private decks, garages, and split-level, townhome-style layouts.
Where is this triplex located?
The property is located at 201 SE 176TH Pl Portland, OR.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 3,381‑square‑foot triplex with three occupied units; 0.27‑acre lot with grassy backyard and additional off‑street parking; Split‑level floor plans with private decks and individual garages
