Triplex with Individual
For Sale
$799,900
3392 SE WAVERLEIGH BLVD, Portland, OR 97202
Three single-level apartments offer a mix of one- and two-bedroom layouts in Southeast Portland.
Property Size2,787 SF
Price / SF$287.01
Days on Market109
Property Features for 3392 SE WAVERLEIGH BLVD
General Information
Standard status
Active
Size
2,787 SF
Total Parking Spaces
2
Property subtype
MULTI_FAMILY
Net Operating Income
$37,159
Financials
Cap Rate
4.5%
Gross Income
$56,340
Site & Location
Neighborhood
Richmond
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA, 2 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,389
Amenities
hardwood floors
individual basements with washer/dryer hookups
mini-split heating and air conditioning
fireplace
private fenced backyard
Building Details
Building Size
2,787 SF
Year Built
1958
Buildings
1
Stories
1
Listing Agency:
Realty First
Listed By:
Greg Carnese · License #980300132
(503) 998-4135
Source:
Leedavies
Added: Jul 17
Changed: Oct 27
Last Checked: Oct 31 at 3:56PM
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 Realty First
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Investment Insights
Based on property information with market context.
This 1958 triplex contains three single-level apartments: one with two bedrooms and two bathrooms, and two with one bedroom and one bathroom each. Hardwood flooring and a full individual basement with washer and dryer hookups serve every unit. The larger apartment also has a mini-split heating and air conditioning system, a fireplace, a fenced backyard, and an attached two-car garage.
The property is in Southeast Portland, near Cleveland High School Field, bus lines, and the shops and restaurants along SE Powell Boulevard. Downtown Portland is also accessible from the location.
The property is in Southeast Portland, near Cleveland High School Field, bus lines, and the shops and restaurants along SE Powell Boulevard. Downtown Portland is also accessible from the location.
Key Highlights
- Three apartments: one 2‑bedroom, 2‑bath unit and two 1‑bedroom, 1‑bath units
- Built in 1958; all three apartments are single‑level
- Each unit has hardwood floors, a full basement, and washer/dryer hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,495
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$809,900
$809.9K
Cap Rate 7%
$578,500
$578.5K
Cap Rate 9%
$449,944
$449.9K
Market Conditions
NOI Build-Up for 2,787 SF
Gross rent
$61.9K $22.20/SF
− Vacancy
−$4.0K −$1.44/SF
EGI
$57.8K $20.76/SF
− OpEx
−$17.4K −$6.23/SF
NOI
$40.5K $14.53/SF
Area
ZIP 97202
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$809,900
Cap Rate 7%
$578,500
Cap Rate 9%
$449,944
Alternative Uses
Best Use
Multifamily LT 5
$578.5K
$506.2K – $674.9K
NOI $40,495 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$537.1K
$470.0K – $626.7K
NOI $37,600 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$664.9K
$581.8K – $775.7K
NOI $46,543 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,719
Businesses Nearby
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Business Placement
Demographics for 97202, OR
43,193
Population
20,097
Households
2.1
Avg Household Size
38
Median Age
65%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
6,856
Density / Sq Mi
$100,353
Median Household Income
$52,090
Median Earnings
$1,674
Median Rent
$684,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three single-level apartments offer a mix of one- and two-bedroom layouts in Southeast Portland.
Where is this triplex located?
The property is located at 3392 SE WAVERLEIGH BLVD 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: Three apartments: one 2‑bedroom, 2‑bath unit and two 1‑bedroom, 1‑bath units; Built in 1958; all three apartments are single‑level; Each unit has hardwood floors, a full basement, and washer/dryer hookups
