Townhome-Style
2845 SE Harrison St, Milwaukie, OR 97222
For Sale
New
$1,249,900
MultiFamily, Milwaukie, OR
Property Size3,421 SF
Lot Size0.10 Acres
Price / SF$365.36
Days on Market4
Property Features for 2845 SE Harrison St
General Information
Property type
Property subtype
Property condition
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Subdivision
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Heating system
Cooling system
Amenities
solid surface countertops
stainless steel appliances
in-unit laundry
mini split heating/cooling
fenced outdoor spaces
Building Details
Year built
Floors in Building
Number of units
Roof type
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License OR #199910100
(503) 709-4632
Added: Nov 11
Changed: Nov 13
Last Checked: Nov 14 at 2:06AM
MLS# 420409165
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 triplex is under construction and comprises three attached, townhome-style residences totaling 3,421 square feet. The front unit has three bedrooms, while the other two each have two; all three include 2.5 bathrooms. Main-level living, dining, and kitchen areas share an open great-room arrangement, with bedrooms and two full bathrooms upstairs. Each home also has solid-surface counters, stainless steel appliances, in-unit laundry, heat-pump heating and cooling, and a fenced outdoor area. The property occupies 0.1 acres and is zoned R-HD. The stated year built is 2026.
The property is near downtown Milwaukie, with restaurants, coffee shops, and local businesses along Main Street. Nearby destinations include Ledding Library, Scott Park, Milwaukie Bay Park, and the seasonal farmers market. The Milwaukie/Main Street MAX Orange Line station provides rail service to Portland City Center, and the Trolley Trail supports walking and biking.
The property is near downtown Milwaukie, with restaurants, coffee shops, and local businesses along Main Street. Nearby destinations include Ledding Library, Scott Park, Milwaukie Bay Park, and the seasonal farmers market. The Milwaukie/Main Street MAX Orange Line station provides rail service to Portland City Center, and the Trolley Trail supports walking and biking.
Key Highlights
- Three attached residences: one 3‑bedroom unit and two 2‑bedroom units
- Each residence has 2.5 bathrooms, in‑unit laundry, and fenced outdoor space
- 3,421 square feet across the triplex on a 0.1‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,926
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$878,520
$878.5K
Cap Rate 7%
$627,514
$627.5K
Cap Rate 9%
$488,067
$488.1K
Market Conditions
NOI Build-Up for 3,421 SF
Gross rent
$84.2K $24.60/SF
− Vacancy
−$4.3K −$1.25/SF
EGI
$79.9K $23.35/SF
− OpEx
−$35.9K −$10.51/SF
NOI
$43.9K $12.84/SF
Area
Clackamas County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$878,520
Cap Rate 7%
$627,514
Cap Rate 9%
$488,067
Alternative Uses
Best Use
Apartment 5plus
$627.5K
$549.1K – $732.1K
NOI $43,926 @ 7.0% cap · market cap 3.51%
Second Best
Multifamily LT 5
$613.9K
$537.1K – $716.2K
NOI $42,971 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$923.4K
$808.0K – $1.08M
NOI $64,639 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,397
Businesses Nearby
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Business Placement
Demographics for 97222, OR
36,316
Population
16,910
Households
2.1
Avg Household Size
41
Median Age
38%
College-Educated
95%
High-School Grad
8.6 sq mi
ZIP Area
4,223
Density / Sq Mi
$77,441
Median Household Income
$48,298
Median Earnings
$1,592
Median Rent
$465,100
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 - A varied two- and three-bedroom mix is complemented by fenced outdoor areas and laundry in each residence.
Where is this triplex located?
The property is located at 2845 SE Harrison St Milwaukie, OR.
What is the asking price?
The asking price for this property is $1,249,900.
What are key features of this property?
This property features: Three attached residences: one 3‑bedroom unit and two 2‑bedroom units; Each residence has 2.5 bathrooms, in‑unit laundry, and fenced outdoor space; 3,421 square feet across the triplex on a 0.1‑acre lot
