Triplex With Separate
32510 E Bell RD, Corbett, OR 97019
For Sale
$749,000
Pending
Three residences are currently operated as rentals; all homes require repairs and updates.
Property Size1,484 SF
Lot Size1.30 Acres
Days on Market98
Property Features for 32510 E Bell RD
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Building Details
Year Built
Buildings
Listing Agency:
Triple Oaks Realty LLC
(541) 556-5093
Listed By:
The Reger Group
(503) 893-2022
Source:
Searchpnwhouses
Added: Aug 8
Changed: Nov 12
Last Checked: Nov 12 at 7:38AM
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 Triple Oaks Realty LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1.30-acre property contains three legal residences in a triplex configuration. Built in 1919, the main home provides 3 bedrooms, 1 bath, and approximately 1,484 sq ft including an unfinished basement. Two additional dwellings each offer 2 bedrooms and 1 bath. The residences are currently operating as rentals, and all three require repairs and updates. The sale is AS-IS with no repairs by the seller.
Located in Corbett, the property offers access to I-84, Portland, and PDX. The Columbia River Gorge National Scenic Area is nearby, and the property is within the Corbett School District. SRC zoning is identified as supporting multiple uses, with buyers responsible for verifying permitted uses and requirements with Multnomah County.
Located in Corbett, the property offers access to I-84, Portland, and PDX. The Columbia River Gorge National Scenic Area is nearby, and the property is within the Corbett School District. SRC zoning is identified as supporting multiple uses, with buyers responsible for verifying permitted uses and requirements with Multnomah County.
Key Highlights
- Three legal residences on one 1.30‑acre lot
- Main home includes 3 bedrooms, 1 bath, and approximately 1,484 sq ft with unfinished basement
- Two additional dwellings, each with 2 bedrooms and 1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,793
Cap Rate
2.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$435,860
$435.9K
Cap Rate 7%
$311,329
$311.3K
Cap Rate 9%
$242,144
$242.1K
Market Conditions
NOI Build-Up for 1,484 SF
Gross rent
$32.9K $22.20/SF
− Vacancy
−$1.8K −$1.22/SF
EGI
$31.1K $20.98/SF
− OpEx
−$9.3K −$6.29/SF
NOI
$21.8K $14.69/SF
Area
Multnomah County, OR
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$435,860
Cap Rate 7%
$311,329
Cap Rate 9%
$242,144
Alternative Uses
Best Use
Multifamily LT 5
$311.3K
$272.4K – $363.2K
NOI $21,793 @ 7.0% cap · market cap 2.91%
Second Best
Apartment 5plus
$272.2K
$238.2K – $317.6K
NOI $19,055 @ 7.0% cap · market cap 2.54%
Theoretical Best
Office A
$400.6K
$350.5K – $467.3K
NOI $28,040 @ 7.0% cap · market cap 3.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Explore this area
Business Placement
Demographics for 97019, OR
3,221
Population
1,207
Households
2.7
Avg Household Size
45
Median Age
43%
College-Educated
94%
High-School Grad
78.8 sq mi
ZIP Area
41
Density / Sq Mi
$107,604
Median Household Income
$42,453
Median Earnings
$1,809
Median Rent
$665,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Triplexes in Multnomah County, OR
Properties on Market for Triplexes in Multnomah County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three residences are currently operated as rentals; all homes require repairs and updates.
Where is this triplex located?
The property is located at 32510 E Bell RD Corbett, OR.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Three legal residences on one 1.30‑acre lot; Main home includes 3 bedrooms, 1 bath, and approximately 1,484 sq ft with unfinished basement; Two additional dwellings, each with 2 bedrooms and 1 bath
