3123 SE 31st Ave, Portland, OR 97202
MULTI_FAMILY - Portland, OR
- Added:
- Aug 31, 2025
- Days on Market:
- 288
- Last Refresh:
- Jun 14 at 9:06 pm
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, Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 6, Bathroom 4, Bedroom 4, Bedroom 3, Bathroom 3, Bedroom 2
- 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 agent Kathryn King License #971100115 (503) 997-9035
Listing office KJK Properties PC 13343 SE Stark St., Suite 200, Portland, OR (503) 772-8825
Listing date Aug 31, 2025
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.
HighLights
- Charming plex built in 1912 with zoned forced‑air heating and a composition roof
- Updated roof plus separate electrical meters
- All units share water, sewer, and garbage service
- Grand front porch and stately common entrance
- Inviting shared yard
- Attached garage currently rented with Unit C
Overview
The property is located at 3123 SE 31st Ave in Portland, Oregon, within Multnomah County. The site totals 0.09 acres and has a listed total size of 3,046 square feet. The listing is for sale under R5 zoning.
For investors or owner-occupants, the setup of separate electrical meters alongside shared utilities can simplify operational management compared to fully separate utility systems. The yard and common entrance areas contribute to tenant experience, while the attached garage associated with Unit C provides an additional income component as described in the offering. Comprehensive financial records are available per the listing remarks.
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
- -122.633811
- Latitude
- 45.500111
