Triplex with Two Leased
4300 N MONTANA Ave Portland, OR 97217
For Sale
$900,000
MULTI_FAMILY - Portland, OR
Property Size3,066 SF
Lot Size0.12 Acres
Price / SF$293.54
Days on Market8
Property Features for 4300 N MONTANA Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CM3
Bedrooms
4
Bathrooms
3
Rooms
Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 3
Standard status
Active
APN
R223434
Size
3,066 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
MULTNOMAH, BLOCK 5, LOT 12
Tax Annual Amount
5631
Utilities
Heating system
Baseboard
Cooling system
Wall Unit(s)
Building Details
Year built
1923
Floors in Building
3
Number of units
3
Roof type
Composition, Shingle
Listing Agency:
John L. Scott Portland Central
(503) 230-8600
Listed By:
Heather Pool
(503) 863-7433
Added: Jul 23
Changed: Jul 28
Last Checked: Jul 30 at 12:06AM
MLS# 705994609
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 for-sale triplex includes three units total, with two of the three units currently leased and one vacant unit available for an owner-occupant, a new tenant, or value-add improvements. The property is configured as an income-producing multifamily building, offering in-place occupancy alongside an opportunity to stabilize the remaining unit.
Located at 4300 N Montana Ave in Portland (97217), the property is described as near MAX and major bus service. The listing also notes that restaurants, shops, coffee, and nightlife on Mississippi Avenue are nearby.
Zoned CM3, the property is presented as having redevelopment flexibility while still providing income today through the two leased units. Buyers are instructed to complete due diligence regarding zoning and potential future development possibilities.
Located at 4300 N Montana Ave in Portland (97217), the property is described as near MAX and major bus service. The listing also notes that restaurants, shops, coffee, and nightlife on Mississippi Avenue are nearby.
Zoned CM3, the property is presented as having redevelopment flexibility while still providing income today through the two leased units. Buyers are instructed to complete due diligence regarding zoning and potential future development possibilities.
Key Highlights
- Triplex built in 1923 with immediate income potential: 2 of the 3 units currently leased and 1 unit vacant
- CM3 zoning, offering redevelopment flexibility while retaining an existing triplex for income
- Heating: baseboard heat; cooling: wall unit(s)
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
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Triplex in CM3 zoning with two currently leased units and one vacant unit at 4300 N Montana Ave.
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 immediate income potential: 2 of the 3 units currently leased and 1 unit vacant; CM3 zoning, offering redevelopment flexibility while retaining an existing triplex for income; Heating: baseboard heat; cooling: wall unit(s)
