Updated Duplex with In-Unit
For Sale
$724,900
3910 SE 32 AVE SE, Portland, OR 97202
Updated R2.5 duplex features two units, hardwood floors, and in-unit washer and dryer in each residence.
Property Size2,599 SF
Days on Market98
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Property Features for 3910 SE 32 AVE SE
General Information
Standard status
Active
Size
2,599 SF
Property subtype
MULTI_FAMILY
Zoning
R2.5
Additional Details
Furnished
Yes
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,035
Amenities
hardwood floors
in-unit laundry
mini splits
backyard landscaping
paver patio/driveway
fencing
Building Details
Building Size
2,599 SF
Year Built
1911
Tenancy
Multi
Listing Agency:
Real Broker
Listed By:
Jason Wasinger
(503) 847-0065
Source:
Eleeterealestate
Added: Jul 10
Changed: Oct 13
Last Checked: Oct 15 at 8:35AM
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 Real Broker
Investment Insights
Based on property information with market context.
This extensively updated duplex is zoned R2.5 and offers two separate residences with hardwood floors throughout. The main level includes 2 bedrooms and 1 bath, an open-concept kitchen with quartz countertops, stainless steel appliances, and in-unit laundry. The upstairs unit provides a 1-bedroom, 1-bath layout with its own washer and dryer, plus ample storage. Recent improvements include mini splits, backyard landscaping, a paver patio/driveway, and fencing. A clean basement with a separate entrance is ready for storage and may support additional uses, subject to buyer diligence.
The property is located in the heart of Kenilworth, with convenient access to parks and local amenities, and is described as being just minutes from Gladstone, Division, Clinton, and Woodstock, with access to downtown Portland.
Both units were sold furnished. The generous backyard and basement present opportunities for additional development or space expansion, including potential uses permitted under current zoning, with all due diligence to be performed by the buyer with the City of Portland.
The property is located in the heart of Kenilworth, with convenient access to parks and local amenities, and is described as being just minutes from Gladstone, Division, Clinton, and Woodstock, with access to downtown Portland.
Both units were sold furnished. The generous backyard and basement present opportunities for additional development or space expansion, including potential uses permitted under current zoning, with all due diligence to be performed by the buyer with the City of Portland.
Key Highlights
- Updated R2.5‑zoned duplex in Kenilworth with two separate residences
- Main‑level unit: 2 bedrooms, 1 bath, hardwood floors, open‑concept kitchen with quartz countertops, stainless steel appliances, and in‑unit laundry
- Upstairs unit: 1 bedroom, 1 bath with hardwood floors, its own washer and dryer, and ample storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,763
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$755,260
$755.3K
Cap Rate 7%
$539,471
$539.5K
Cap Rate 9%
$419,589
$419.6K
Market Conditions
NOI Build-Up for 2,599 SF
Gross rent
$57.7K $22.20/SF
− Vacancy
−$3.8K −$1.44/SF
EGI
$53.9K $20.76/SF
− OpEx
−$16.2K −$6.23/SF
NOI
$37.8K $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%
$755,260
Cap Rate 7%
$539,471
Cap Rate 9%
$419,589
Alternative Uses
Best Use
Multifamily LT 5
$539.5K
$472.0K – $629.4K
NOI $37,763 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$500.9K
$438.3K – $584.4K
NOI $35,064 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$620.0K
$542.5K – $723.4K
NOI $43,403 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,117
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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Updated R2.5 duplex features two units, hardwood floors, and in-unit washer and dryer in each residence.
Where is this duplex located?
The property is located at 3910 SE 32 AVE SE Portland, OR.
What is the asking price?
The asking price for this property is $724,900.
What are key features of this property?
This property features: Updated R2.5‑zoned duplex in Kenilworth with two separate residences; Main‑level unit: 2 bedrooms, 1 bath, hardwood floors, open‑concept kitchen with quartz countertops, stainless steel appliances, and in‑unit laundry; Upstairs unit: 1 bedroom, 1 bath with hardwood floors, its own washer and dryer, and ample storage
