Triplex Investment
3392 SE WAVERLEIGH Blvd Portland, OR 97202
New
3392 SE WAVERLEIGH Blvd, Portland, OR, 97202
$825,000
For Sale
$825,000
MULTI_FAMILY - Portland, OR
Property Size2,787 SF
Lot Size0.20 Acres
Price / SF$296.02
Days on Market1
Property Features for 3392 SE WAVERLEIGH Blvd
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM2
- Bedrooms
- 3
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 3
- Standard status
- Active
- APN
- R298975
- Size
- 2,787 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Description
- WAVERLEIGH HTS, BLOCK 30, LOT 14&15
- Tax Annual Amount
- 12389
Utilities
- Heating system
- Ceiling, Baseboard
Building Details
- Year built
- 1958
- Floors in Building
- 1
- Number of units
- 3
- Roof type
- Composition
Listing Agency
Realty First
(503) 343-5825
5200 Meadows Rd Ste 150, Lake Oswego, OR
Listed by
Greg Carnese · License #980300132
(503) 998-4135
Added: Jul 17 Checked: Jul 17 at 11:06 pm
MLS# 684280159
Listing URL
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.
This single-level triplex was built in 1958 and is designed as three separate residential units. The property includes one spacious 2-bedroom, 2-bath unit featuring a mini-split heating and air conditioning system, a cozy fireplace, a private fenced backyard, and an attached 2-car garage. The two additional units each provide 1 bedroom and 1 bath. All three units feature hardwood floors and full individual basements with washer/dryer hookups.
The property is zoned RM2 and is located at 3392 SE Waverleigh Blvd in Portland, OR 97202, in the Waverleigh Heights neighborhood. Public remarks note it is near Cleveland High School Field, served by nearby bus lines, and convenient to shops, restaurants, and daily amenities along SE Powell Boulevard.
For investors, the listing reports a current gross annual income of $56,340 and NOI of $37,159, along with a 4.5% capitalization rate.
The property is zoned RM2 and is located at 3392 SE Waverleigh Blvd in Portland, OR 97202, in the Waverleigh Heights neighborhood. Public remarks note it is near Cleveland High School Field, served by nearby bus lines, and convenient to shops, restaurants, and daily amenities along SE Powell Boulevard.
For investors, the listing reports a current gross annual income of $56,340 and NOI of $37,159, along with a 4.5% capitalization rate.
Key Highlights
- 1958‑built 2,783 SF triplex with one 2BR/2BA unit and two 1BR/1BA units
- 4.5% capitalization rate with current gross annual income of $56,340 and NOI of $37,159
- Unit amenities include hardwood floors and full individual basements with washer/dryer hookups
Local 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 | $61.9k | $22.20 |
| − Vacancy | −$4.0k | −$1.44 |
| EGI | $57.8k | $20.76 |
| − OpEx | −$17.4k | −$6.23 |
| NOI | $40.5k | $14.53 |
2,787 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$578.5K
$506.2K – $674.9K
NOI $40,495 @ 7.0% cap · market cap 4.91%
Second Best
Apartment 5plus
$537.1K
$470.0K – $626.7K
NOI $37,600 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$664.9K
$581.8K – $775.7K
NOI $46,543 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Triplex - Built in 1958, this three-unit triplex offers a 2-bedroom unit plus two 1-bedroom units with basements and washer/dryer hookups.
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 $825,000.
What are key features of this property?
This property features: 1958‑built 2,783 SF triplex with one 2BR/2BA unit and two 1BR/1BA units; 4.5% capitalization rate with current gross annual income of $56,340 and NOI of $37,159; Unit amenities include hardwood floors and full individual basements with washer/dryer hookups
