Turnkey Vacant Triplex Near
3321 SW US VETERANS HOSPITAL Rd Portland, OR 97239
New
For Sale
$799,900
MULTI_FAMILY - Portland, OR
Property Size2,980 SF
Lot Size0.09 Acres
Price / SF$268.42
Days on Market7
Property Features for 3321 SW US VETERANS HOSPITAL Rd
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM3
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2
- Standard status
- Active
- APN
- R247265
- Size
- 2,980 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Description
- PORTLAND CITY HMSTD, BLOCK 71, LOT 2 EXC PT IN ST
- Tax Annual Amount
- 9335
Utilities
- Heating system
- Baseboard
Building Details
- Year built
- 1959
- Floors in Building
- 2
- Number of units
- 3
- Roof type
- Membrane
Listing Agency:
RealtyNET, LLC
(503) 300-6330
Listed By:
Greg Messick · License #200202047
(503) 300-6330
Added: Jul 17
Changed: Jul 18
Last Checked: Jul 23 at 4:06PM
MLS# 233166758
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.
Turnkey and fully vacant triplex positioned for immediate occupancy or mid-term rental use. The property is a three-unit setup with electric separately metered, while water/sewer/trash is billed back to tenants. An exterior-entry storage room provides additional on-site space and may offer the opportunity to convert into a fourth unit.
Located at 3321 SW US Veterans Hospital Rd in Portland, Oregon, the triplex sits directly across from Oregon Health & Science University (OHSU) and the VA Medical Center.
Zoned RM3, the property’s current configuration supports a lean expense structure through utility pass-throughs and offers flexibility with the included storage area.
Located at 3321 SW US Veterans Hospital Rd in Portland, Oregon, the triplex sits directly across from Oregon Health & Science University (OHSU) and the VA Medical Center.
Zoned RM3, the property’s current configuration supports a lean expense structure through utility pass-throughs and offers flexibility with the included storage area.
Key Highlights
- Fully vacant triplex directly across from Oregon Health & Science University (OHSU) and the VA Medical Center
- Year built 1959 with baseboard heating
- Membrane roof
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 | $62.6k | $21.00 |
| − Vacancy | −$3.3k | −$1.09 |
| EGI | $59.3k | $19.91 |
| − OpEx | −$17.8k | −$5.97 |
| NOI | $41.5k | $13.94 |
2,980 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$593.3K
$519.1K – $692.1K
NOI $41,528 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$546.6K
$478.3K – $637.7K
NOI $38,263 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$836.9K
$732.3K – $976.3K
NOI $58,580 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Fully vacant triplex across from OHSU and the VA Medical Center, with separately metered electric and tenant-billed utilities.
Where is this triplex located?
The property is located at 3321 SW US VETERANS HOSPITAL Rd Portland, OR.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Fully vacant triplex directly across from Oregon Health & Science University (OHSU) and the VA Medical Center; Year built 1959 with baseboard heating; Membrane roof
