Triplex With Private
For Sale
$875,000
2940 SE BROOKLYN ST, Portland, OR 97202
Each residence includes dedicated basement space, air conditioning, and hardwood flooring.
Property Size2,736 SF
Days on Market9
Property Features for 2940 SE BROOKLYN ST
General Information
Standard status
Active
Size
2,736 SF
Property subtype
MULTI_FAMILY
Additional Details
Utilities to Site
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$12,727
Amenities
air conditioning
hardwood floors
private basement space
central courtyard
landscaping
Building Details
Building Size
2,736 SF
Year Built
1959
Buildings
2
Listing Agency:
Rarebird Real Estate
(971) 273-5547
Listed By:
Benjamin Ficker · License #200412166,OR
(971) 273-5547
Source:
Eleeterealestate
Added: Jul 30
Changed: Aug 4
Last Checked: Aug 6 at 3:35AM
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 Rarebird Real Estate
Investment Insights
Based on property information with market context.
Built in 1959, this well-maintained triplex offers three residential units designed with home-like layouts. Each unit includes a private garage, tenant-only basement storage, air conditioning, and hardwood floors. Most residences have received updates, while new water service lines support the building. Landscaping and a shared central courtyard add to the property’s established residential setting.
The triplex is located at 2940 SE Brooklyn St in Portland’s Southeast Portland area and must be purchased and closed concurrently with the adjacent triplex. Together, the two properties comprise six side-by-side units. Tenants pay their own water, sewer, and gas expenses; ownership covers trash service. Current rents are approximately 12% below market, and the offering is subject to interior inspection. Prospective parties are asked not to disturb residents.
The triplex is located at 2940 SE Brooklyn St in Portland’s Southeast Portland area and must be purchased and closed concurrently with the adjacent triplex. Together, the two properties comprise six side-by-side units. Tenants pay their own water, sewer, and gas expenses; ownership covers trash service. Current rents are approximately 12% below market, and the offering is subject to interior inspection. Prospective parties are asked not to disturb residents.
Key Highlights
- Triplex built in 1959 with three residential units
- Private garage and tenant‑only basement space for each unit
- Air conditioning and hardwood floors throughout the units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,754
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$795,080
$795.1K
Cap Rate 7%
$567,914
$567.9K
Cap Rate 9%
$441,711
$441.7K
Market Conditions
NOI Build-Up for 2,736 SF
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.
Gross rent
$60.7K $22.20/SF
− Vacancy
−$3.9K −$1.44/SF
EGI
$56.8K $20.76/SF
− OpEx
−$17.0K −$6.23/SF
NOI
$39.8K $14.53/SF
Area
ZIP 97202
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$795,080
Cap Rate 7%
$567,914
Cap Rate 9%
$441,711
Alternative Uses
Best Use
Multifamily LT 5
$567.9K
$496.9K – $662.6K
NOI $39,754 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$527.3K
$461.4K – $615.2K
NOI $36,912 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$652.7K
$571.1K – $761.5K
NOI $45,691 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,472
Businesses Nearby
Explore this area
Business Placement
Demographics for 97202, OR
43,193
Population
20,097
Households
2.1
Avg Household Size
38
Median Age
65%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
6,856
Density / Sq Mi
$100,353
Median Household Income
$52,090
Median Earnings
$1,674
Median Rent
$684,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence includes dedicated basement space, air conditioning, and hardwood flooring.
Where is this triplex located?
The property is located at 2940 SE BROOKLYN ST Portland, OR.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Triplex built in 1959 with three residential units; Private garage and tenant‑only basement space for each unit; Air conditioning and hardwood floors throughout the units
