Triplex with Private
For Sale
$660,000
6332 Ne 45th Ave, Portland, OR 97218
Single-level layout includes laundry hookups and off-street parking.
Property Size2,352 SF
Price / SF$280.61
Days on Market98
Property Features for 6332 Ne 45th Ave
General Information
Standard status
Active
Size
2,352 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Cap Rate
4.43%
Amenities
washer/dryer hookups
private back patio
Building Details
Year Built
1976
Listing Agency:
Living Room Realty
Listed By:
Erika George
(503) 349-5449
Source:
Teamgillott
Added: Jul 18
Changed: Oct 10
Last Checked: Oct 20 at 10:08PM
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 Living Room Realty
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Investment Insights
Based on property information with market context.
Built in 1976, this triplex contains three single-level residences, each configured with 2 bedrooms and 1 bathroom. Every unit includes washer/dryer hookups and a private back patio, while the property provides four off-street parking spaces. One unit is vacant, creating an owner-occupancy option alongside rental income from the remaining units. Current operations reflect a 4.43% cap rate.
The property is located at 6332 NE 45TH AVE in Portland’s Cully area, near Fernhill Park, New Seasons Market, and the Kennedy School. The setting also provides access to the airport and surrounding neighborhoods.
The property is located at 6332 NE 45TH AVE in Portland’s Cully area, near Fernhill Park, New Seasons Market, and the Kennedy School. The setting also provides access to the airport and surrounding neighborhoods.
Key Highlights
- Three 2‑bedroom/1‑bath units in a single‑level triplex
- One unit currently vacant for potential owner occupancy
- Private back patio provided for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,777
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,540
$655.5K
Cap Rate 7%
$468,243
$468.2K
Cap Rate 9%
$364,189
$364.2K
Market Conditions
NOI Build-Up for 2,352 SF
Gross rent
$49.4K $21.00/SF
− Vacancy
−$2.6K −$1.09/SF
EGI
$46.8K $19.91/SF
− OpEx
−$14.0K −$5.97/SF
NOI
$32.8K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,540
Cap Rate 7%
$468,243
Cap Rate 9%
$364,189
Alternative Uses
Best Use
Multifamily LT 5
$468.2K
$409.7K – $546.3K
NOI $32,777 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$431.4K
$377.5K – $503.3K
NOI $30,200 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$660.5K
$577.9K – $770.6K
NOI $46,235 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
505
Businesses Nearby
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Business Placement
Demographics for 97218, OR
14,748
Population
6,440
Households
2.3
Avg Household Size
38
Median Age
51%
College-Educated
91%
High-School Grad
6.7 sq mi
ZIP Area
2,201
Density / Sq Mi
$81,367
Median Household Income
$45,830
Median Earnings
$1,440
Median Rent
$493,300
Median Home Value
Check the figures for this property
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 - Single-level layout includes laundry hookups and off-street parking.
Where is this triplex located?
The property is located at 6332 Ne 45th Ave Portland, OR.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: Three 2‑bedroom/1‑bath units in a single‑level triplex; One unit currently vacant for potential owner occupancy; Private back patio provided for each unit
