3123 SE 31st AVE, Portland, OR 97202
Well-maintained triplex featuring separate electrical meters and an attached garage presently rented with Unit C.
- Added:
- Aug 31, 2025
- Days on Market:
- 312
- Last Refresh:
- Jul 8 at 2:35 am
Property Features for 3123 SE 31st AVE
General Information
- Standard status
- Active
- Size
- 3,046 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1912
Listing office Keller Williams PDX Central (971) 266-0206
Listing date Aug 31, 2025
Source Premierepropertygroup
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 PDX Central
HighLights
- Well‑maintained triplex with 3 units: Unit A (2/1) rent $1,930, Unit B (2/1) rent $2,020, Unit C (2/2) rent $1,700
- Separate electrical meters for the units; updated roof noted in property remarks
- Attached garage is presently rented with Unit C
- Shared yard with grand front porch and stately common entrance
- Public utilities: units share water, sewer, and garbage; water source is public
- 0.09‑acre level lot (43x90) with driveway and garage; paved road access; concrete perimeter foundation; built in 1912
Overview
Located at 3123 SE 31st Ave in Portland, the property is described as being in the Richmond area. Comprehensive financial records are available to support due diligence.
For buyers or operators seeking a residential income property with a straightforward utility arrangement, the separate electrical meters can simplify billing and reduce administrative complexity. At the same time, shared water, sewer, and garbage should be factored into budgeting, along with the provided annual expense figures for insurance, water, garbage, and lawn care. With the attached garage already leased with Unit C, the configuration supports an income approach that combines unit living space with an additional rented component.
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 | $67.6k | $22.20 |
| − Vacancy | −$4.4k | −$1.44 |
| EGI | $63.2k | $20.76 |
| − OpEx | −$19.0k | −$6.23 |
| NOI | $44.3k | $14.53 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.6338995
- Latitude
- 45.5000987
