Townhouse-Style Triplex with
2120 Northeast 7th Avenue Portland, OR 97212
2120 Northeast 7th Avenue, Portland, OR, 97212
$725,000
For Sale
$725,000
Three 2-bedroom, 1-bath units are on the upper level with in-unit laundry and dedicated off-street parking.
Property Size2,550 SF
Price / SF$284.31
Days on Market186
Property Features for 2120 Northeast 7th Avenue
General Information
- Standard status
- Active
- Size
- 2,550 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1979
Listing agency
Keller Williams Realty Profes.
(503) 546-9955
Listed by
Marc Zemp · License #201203833
(503) 546-9955
Source
Compass
Added: Jan 17 Updated: Jul 22 at 6:06PM Checked: Jul 22 at 6:06PM
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 Keller Williams Realty Profes.
Investment Insights
Based on property information with market context.
This townhouse-style, two-story triplex includes three 2-bedroom, 1-bath units on the upper level. The units are set back from the street and each features approximately 850 square feet. Residential amenities include highly efficient mini-split heating and cooling, in-unit washers and dryers, and a private patio area for each unit. Dedicated off-street parking is provided for each tenant, along with a locked bicycle shed, and mature landscaping with trees on the south side adds a degree of privacy and curb appeal.
The property is located in the heart of Irvington and is described as walkable and bike-friendly, with a Walk Score of 88 and a Bike Score of 100, placing it within minutes of shops, dining, parks, and transit.
The offering is presented as a well maintained income property, and offers are subject to interior inspection with instruction not to disturb tenants.
The property is located in the heart of Irvington and is described as walkable and bike-friendly, with a Walk Score of 88 and a Bike Score of 100, placing it within minutes of shops, dining, parks, and transit.
The offering is presented as a well maintained income property, and offers are subject to interior inspection with instruction not to disturb tenants.
Key Highlights
- Three‑unit triplex built in 1979 with 2 stories and crawl space basement
- All three units are townhouse‑style 2 bed, 1 bath on the upper level and set back from the street
- Approx. 850 SF per unit, each with highly efficient mini‑split heating and cooling
Local 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 | $53.6k | $21.00 |
| − Vacancy | −$2.8k | −$1.09 |
| EGI | $50.8k | $19.91 |
| − OpEx | −$15.2k | −$5.97 |
| NOI | $35.5k | $13.94 |
2,550 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$507.7K
$444.2K – $592.3K
NOI $35,536 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$467.7K
$409.3K – $545.7K
NOI $32,742 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$716.1K
$626.6K – $835.5K
NOI $50,127 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three 2-bedroom, 1-bath units are on the upper level with in-unit laundry and dedicated off-street parking.
Where is this triplex located?
The property is located at 2120 Northeast 7th Avenue Portland, OR.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Three‑unit triplex built in 1979 with 2 stories and crawl space basement; All three units are townhouse‑style 2 bed, 1 bath on the upper level and set back from the street; Approx. 850 SF per unit, each with highly efficient mini‑split heating and cooling
