Triplex with Shared Yard and
3123 SE 31st Ave Portland, OR 97202
For Sale
$795,000
MULTI_FAMILY - Portland, OR
Property Size3,046 SF
Lot Size0.09 Acres
Price / SF$260
Days on Market334
Property Features for 3123 SE 31st Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
6
Bathrooms
4
Rooms
Bedroom 1, Bathroom 4, Bedroom 2, Bathroom 2, Bedroom 5, Bedroom 6, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 3
Standard status
Active
APN
R298853
Size
3,046 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
WAVERLEIGH HTS, BLOCK 19, N 43' OF LOT 10&11
Tax Annual Amount
9257
Utilities
Heating system
Zoned, Forced Air
Building Details
Year built
1912
Floors in Building
3
Number of units
3
Roof type
Composition
Listing Agency:
KJK Properties PC
(503) 772-8825
Listed By:
Kathryn King · License #971100115
(503) 997-9035
Added: Aug 31, 2025
Changed: Jul 29
Last Checked: Jul 30 at 3:06AM
MLS# 289396741
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.
Investment Insights
Based on property information with market context.
This triplex offers a well-maintained layout with updated roof improvements and separate electrical meters. The units share water, sewer, and garbage, and the property includes a stately common entrance with a grand front porch and an inviting shared yard. An attached garage is currently rented with Unit C, adding another income-producing component to the setup.
The property is located at 3123 SE 31st Ave in Portland, Oregon 97202, within zoning designated R5. Comprehensive financial records are available for review.
The property is located at 3123 SE 31st Ave in Portland, Oregon 97202, within zoning designated R5. Comprehensive financial records are available for review.
Key Highlights
- 1912‑built plex with composition roof and zoned forced‑air heating
- Separate electrical meters; updated roof
- All units share water, sewer, and garbage
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 |
3,046 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$632.3K
$553.2K – $737.6K
NOI $44,258 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$587.1K
$513.7K – $684.9K
NOI $41,095 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$726.7K
$635.9K – $847.8K
NOI $50,868 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained triplex in Portland with updated roof, separate electrical meters, and a shared yard and front porch.
Where is this triplex located?
The property is located at 3123 SE 31st Ave Portland, OR.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 1912‑built plex with composition roof and zoned forced‑air heating; Separate electrical meters; updated roof; All units share water, sewer, and garbage
