Updated Duplex with Attached
New
For Sale
$734,900
3328 SE WASHINGTON ST, Portland, OR 97214
Two refreshed residences feature modernized kitchens and baths, new flooring, and an attached garage for parking and storage.
Property Size2,844 SF
Days on Market7
Property Features for 3328 SE WASHINGTON ST
General Information
Standard status
Active
Size
2,844 SF
Property subtype
MULTI_FAMILY
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,754
Amenities
attached garage
fenced backyard
Building Details
Building Size
2,844 SF
Year Built
1892
Buildings
1
Listing Agency:
H & H Preferred Real Estate
Listed By:
Valerie Hunter
(541) 419-7253
Source:
Eleeterealestate
Added: Oct 1
Changed: Oct 6
Last Checked: Oct 5 at 5:12PM
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 H & H Preferred Real Estate
Investment Insights
Based on property information with market context.
This 2,844-square-foot duplex, built in 1892, has two updated units with renovated kitchens and bathrooms, new LVP flooring and carpet, and fresh interior and exterior paint. A new roof and new furnaces in both units are among the property’s recent improvements. The attached garage provides parking and storage, and the backyard is fenced.
The property is within walking distance of shops, restaurants, cafes, transit, and daily amenities. Laurelhurst Park is also a short walk away. Its Walk Score is 92 and Bike Score is 100.
The property is within walking distance of shops, restaurants, cafes, transit, and daily amenities. Laurelhurst Park is also a short walk away. Its Walk Score is 92 and Bike Score is 100.
Key Highlights
- Two‑unit property with 2,844 square feet; built in 1892
- Updated kitchens and bathrooms in both units
- New roof and new furnaces in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,633
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$792,660
$792.7K
Cap Rate 7%
$566,186
$566.2K
Cap Rate 9%
$440,367
$440.4K
Market Conditions
NOI Build-Up for 2,844 SF
Gross rent
$59.7K $21.00/SF
− Vacancy
−$3.1K −$1.09/SF
EGI
$56.6K $19.91/SF
− OpEx
−$17.0K −$5.97/SF
NOI
$39.6K $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 Rate 5%
$792,660
Cap Rate 7%
$566,186
Cap Rate 9%
$440,367
Alternative Uses
Best Use
Multifamily LT 5
$566.2K
$495.4K – $660.6K
NOI $39,633 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$521.7K
$456.5K – $608.6K
NOI $36,517 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$798.7K
$698.8K – $931.8K
NOI $55,907 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,092
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two refreshed residences feature modernized kitchens and baths, new flooring, and an attached garage for parking and storage.
Where is this duplex located?
The property is located at 3328 SE WASHINGTON ST Portland, OR.
What is the asking price?
The asking price for this property is $734,900.
What are key features of this property?
This property features: Two‑unit property with 2,844 square feet; built in 1892; Updated kitchens and bathrooms in both units; New roof and new furnaces in both units
