Income Triplex with Vacant
4300 N Montana Ave Portland, OR 97217
For Sale
$900,000
Triplex with two leased units and one vacant unit, with CM3 zoning and transit access nearby.
Days on Market8
Property Features for 4300 N Montana Ave
General Information
Standard status
Active
Property subtype
Multi Family Home
Building Details
Year Built
1923
Listing Agency:
John L. Scott Portland Central
(503) 863-7433
Listed By:
Heather Pool
(503) 863-7433
Source:
Metanars
Added: Jul 23
Changed: Jul 28
Last Checked: Jul 29 at 12:09PM
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 John L. Scott Portland Central
Investment Insights
Based on property information with market context.
This triplex offers an income-producing setup with two of the three units currently leased, along with a third unit that is vacant and ready for an owner-occupant, a new tenant, or value-add improvements. The property is positioned as a straightforward residential income asset while also carrying CM3 zoning for future redevelopment flexibility, subject to buyer due diligence.
The property is located near MAX and major bus service, with restaurants, shops, coffee, and nightlife along Mississippi Avenue described as nearby.
For buyers evaluating both current cash flow and redevelopment considerations, the mix of leased units and a vacant unit provides flexibility for underwriting, repositioning, and occupancy planning.
The property is located near MAX and major bus service, with restaurants, shops, coffee, and nightlife along Mississippi Avenue described as nearby.
For buyers evaluating both current cash flow and redevelopment considerations, the mix of leased units and a vacant unit provides flexibility for underwriting, repositioning, and occupancy planning.
Key Highlights
- Triplex built in 1923 with two of three units currently leased
- One vacant unit offers an option for an owner‑occupant or new tenant
- CM3 zoning provides future redevelopment flexibility
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 | $64.4k | $21.00 |
| − Vacancy | −$3.3k | −$1.09 |
| EGI | $61.0k | $19.91 |
| − OpEx | −$18.3k | −$5.97 |
| NOI | $42.7k | $13.94 |
3,066 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$610.4K
$534.1K – $712.1K
NOI $42,727 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$562.4K
$492.1K – $656.1K
NOI $39,367 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$861.0K
$753.4K – $1.00M
NOI $60,271 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Triplex with two leased units and one vacant unit, with CM3 zoning and transit access nearby.
Where is this triplex located?
The property is located at 4300 N Montana Ave Portland, OR.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Triplex built in 1923 with two of three units currently leased; One vacant unit offers an option for an owner‑occupant or new tenant; CM3 zoning provides future redevelopment flexibility
