Duplex on Double
For Sale
$750,000
3236 SE YAMHILL ST, Portland, OR 97214
Two-unit duplex on an inner SE double lot with shared laundry and basement storage in Portland’s Sunnyside area.
Property Size2,475 SF
Lot Size0.15 Acres
Price / SF$303.03
Days on Market423
Property Features for 3236 SE YAMHILL ST
General Information
Standard status
Active
Size
2,475 SF
Lot size
0.15 Acres
Property subtype
Multi-Family
Zoning
R2.5
Net Operating Income
$15,138
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,315
Amenities
Unfinished
Electricity,Gas
UnitTypeType1,UnitTypeType2
2
1
Range,Refrigerator,WindowCoverings,WoodFloors
HardwoodFloors,Range,Refrigerator
2045
1475
Level
PublicWater
0.15
Driveway,OnStreet
Paved
ConcretePerimeter
2475.0
WoodSiding
Building Details
Building Size
2,475 SF
Year Built
1904
Stories
2
Tenancy
Multi
Listing Agency:
Benchmark Realty LLC
(503) 539-5435
Listed By:
Mark Borgeson
(503) 539-5435
Source:
Premierepropertygroup
Added: Jun 24, 2025
Changed: Aug 20
Last Checked: Aug 20 at 4:29AM
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 Benchmark Realty LLC
Investment Insights
Based on property information with market context.
This duplex includes a 2 bed/1 bath main-level unit and a 1 bed/1 bath upper-level unit. The property also offers shared laundry and ample storage in the basement. The seller notes the home has been well-maintained by a longtime owner, with a history of long-term tenants and low vacancy. Buyer to conduct all due diligence, as the seller makes no warranties or representations.
The property is located in Portland’s Sunnyside neighborhood in inner SE. The site is described as a rare double lot, and the City of Portland indicates that a simple lot line confirmation could create a second buildable lot measuring 33x100. Prospective buyers should verify all development possibilities and requirements through their own due diligence.
For tenants or owner-occupants, the layout supports living in one unit while renting the other, with practical shared amenities including laundry access and basement storage. For investors, the duplex offers straightforward two-unit income from an established residential income property. The stated potential for additional buildable space makes this a fit for buyers willing to evaluate redevelopment options alongside day-to-day rental management.
The property is located in Portland’s Sunnyside neighborhood in inner SE. The site is described as a rare double lot, and the City of Portland indicates that a simple lot line confirmation could create a second buildable lot measuring 33x100. Prospective buyers should verify all development possibilities and requirements through their own due diligence.
For tenants or owner-occupants, the layout supports living in one unit while renting the other, with practical shared amenities including laundry access and basement storage. For investors, the duplex offers straightforward two-unit income from an established residential income property. The stated potential for additional buildable space makes this a fit for buyers willing to evaluate redevelopment options alongside day-to-day rental management.
Key Highlights
- Two‑unit duplex on a level 0.15‑acre (66x100) inner SE double lot in Portland’s Sunnyside area
- Unit mix: 2 bed/1 bath main‑level unit and 1 bed/1 bath upper‑level unit (1 unit each)
- Shared laundry plus unfinished basement with concrete perimeter foundation and ample storage
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
$34,491
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
4.60%
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%
$689,820
$689.8K
Cap Rate 7%
$492,729
$492.7K
Cap Rate 9%
$383,233
$383.2K
Market Conditions
NOI Build-Up for 2,475 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
$52.0K $21.00/SF
− Vacancy
−$2.7K −$1.09/SF
EGI
$49.3K $19.91/SF
− OpEx
−$14.8K −$5.97/SF
NOI
$34.5K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /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%
$689,820
Cap Rate 7%
$492,729
Cap Rate 9%
$383,233
Alternative Uses
Best Use
Multifamily LT 5
$492.7K
$431.1K – $574.9K
NOI $34,491 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$454.0K
$397.2K – $529.7K
NOI $31,779 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$695.0K
$608.2K – $810.9K
NOI $48,653 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,970
Businesses Nearby
Explore this area
Business Placement
Demographics for 97214, OR
28,403
Population
15,948
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
9,794
Density / Sq Mi
$86,879
Median Household Income
$55,643
Median Earnings
$1,628
Median Rent
$733,200
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?
Duplex - Two-unit duplex on an inner SE double lot with shared laundry and basement storage in Portland’s Sunnyside area.
Where is this duplex located?
The property is located at 3236 SE YAMHILL ST Portland, OR.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑unit duplex on a level 0.15‑acre (66x100) inner SE double lot in Portland’s Sunnyside area; Unit mix: 2 bed/1 bath main‑level unit and 1 bed/1 bath upper‑level unit (1 unit each); Shared laundry plus unfinished basement with concrete perimeter foundation and ample storage
