Fully Leased Triplex with
7102 North Interstate Avenue Portland, OR 97217
For Sale
$699,900
Triplex offers separately metered utilities, updated kitchens and baths, and basement storage plus two garage spaces.
Property Size2,755 SF
Price / SF$254.05
Days on Market160
Property Features for 7102 North Interstate Avenue
General Information
- Standard status
- Active
- Size
- 2,755 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1951
Listing Agency:
Windermere Realty Trust
(503) 284-7755
Listed By:
Jeff Capen · License #200308199
(503) 284-7755
Source:
Compass
Added: Feb 17
Changed: Jul 21
Last Checked: Jul 23 at 10:47AM
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 Windermere Realty Trust
Investment Insights
Based on property information with market context.
This fully leased triplex features three units with hardwood floors, living rooms with coved ceilings, and updated kitchens and baths. Each unit has two access points, with the front door and a secondary entry in the kitchen. Two units also provide access to the back alley, allowing convenient parking near their entrances.
The property includes exterior access into the basement space with strong ceiling height. The basement area contains four storage units, a furnace room, and access to two garage spaces that generate additional income.
Utilities are separately metered for electricity and gas for the units. The home is located on the Max Line and is within walking distance to New Seasons, Fred Meyer, additional shopping, mass transit, restaurants, and I-5. All offers are subject to interior inspection contingencies.
The property includes exterior access into the basement space with strong ceiling height. The basement area contains four storage units, a furnace room, and access to two garage spaces that generate additional income.
Utilities are separately metered for electricity and gas for the units. The home is located on the Max Line and is within walking distance to New Seasons, Fred Meyer, additional shopping, mass transit, restaurants, and I-5. All offers are subject to interior inspection contingencies.
Key Highlights
- Tri‑plex built in 1951 and fully leased.
- All units feature hardwood floors, living rooms with coved ceilings, and updated kitchens and baths.
- Units have separate access points: a front door and a second entry in the kitchen; two units access the back alley for parking close to entry.
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 | $57.9k | $21.00 |
| − Vacancy | −$3.0k | −$1.09 |
| EGI | $54.8k | $19.91 |
| − OpEx | −$16.5k | −$5.97 |
| NOI | $38.4k | $13.94 |
2,755 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$548.5K
$479.9K – $639.9K
NOI $38,393 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$505.3K
$442.2K – $589.6K
NOI $35,374 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$773.7K
$677.0K – $902.6K
NOI $54,157 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Triplex offers separately metered utilities, updated kitchens and baths, and basement storage plus two garage spaces.
Where is this triplex located?
The property is located at 7102 North Interstate Avenue Portland, OR.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Tri‑plex built in 1951 and fully leased.; All units feature hardwood floors, living rooms with coved ceilings, and updated kitchens and baths.; Units have separate access points: a front door and a second entry in the kitchen; two units access the back alley for parking close to entry.
