Three-Unit Residential Income
8044 SE Malden St, Portland, OR 97206
For Sale
$499,900
RM1-zoned property combines three distinct living spaces with a shared patio and tenant occupancy.
Property Size2,324 SF
Price / SF$215.10
Days on Market36
Property Features for 8044 SE Malden St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Cap Rate
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
shared private patio
Building Details
Building Size
Year Built
Stories
Units
Tenancy
Listing Agency:
KOR Realty
Listed By:
Korrie Hicks
(503) 680-4371
Source:
Eaglecaprealty
Added: Oct 5
Changed: Nov 8
Last Checked: Nov 8 at 2:42PM
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 KOR Realty
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Investment Insights
Based on property information with market context.
This three-unit residential income property contains a two-bedroom, two-bath unit, a one-bedroom, one-bath unit, and a detached studio. The primary unit was built in 2019 and features an open kitchen, dining, and living area, LVT flooring, laundry, gas heat, and central air. The rear unit has an open living area, ductless electric heating and air conditioning, and laundry and storage space. The studio offers an open layout, a kitchenette counter and sink, a full bath, and electric heat. Total building area is 2,324 square feet, and the property is zoned RM1.
Each unit has exterior storage, and the three residences share a private patio beneath a grape arbor. Updates include a 2019 roof, partial siding work, and plumbing and electrical improvements in the kitchen. All three units are tenant occupied on month-to-month terms.
Each unit has exterior storage, and the three residences share a private patio beneath a grape arbor. Updates include a 2019 roof, partial siding work, and plumbing and electrical improvements in the kitchen. All three units are tenant occupied on month-to-month terms.
Key Highlights
- Three units: 2‑bedroom/2‑bath, 1‑bedroom/1‑bath, and detached studio
- 2,324 square feet of building area; RM1 zoning
- Primary residence built in 2019, with gas heat and central air
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,129
Cap Rate
6.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$682,580
$682.6K
Cap Rate 7%
$487,557
$487.6K
Cap Rate 9%
$379,211
$379.2K
Market Conditions
NOI Build-Up for 2,324 SF
Gross rent
$51.6K $22.20/SF
− Vacancy
−$2.8K −$1.22/SF
EGI
$48.8K $20.98/SF
− OpEx
−$14.6K −$6.29/SF
NOI
$34.1K $14.69/SF
Area
ZIP 97206
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$682,580
Cap Rate 7%
$487,557
Cap Rate 9%
$379,211
Alternative Uses
Best Use
Multifamily LT 5
$487.6K
$426.6K – $568.8K
NOI $34,129 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$437.1K
$382.5K – $510.0K
NOI $30,600 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$652.6K
$571.1K – $761.4K
NOI $45,685 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
542
Businesses Nearby
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Business Placement
Demographics for 97206, OR
51,072
Population
22,348
Households
2.3
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
7,857
Density / Sq Mi
$94,233
Median Household Income
$54,254
Median Earnings
$1,693
Median Rent
$480,500
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Portland, OR
Properties on Market for Triplexes in Portland
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - RM1-zoned property combines three distinct living spaces with a shared patio and tenant occupancy.
Where is this triplex located?
The property is located at 8044 SE Malden St Portland, OR.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Three units: 2‑bedroom/2‑bath, 1‑bedroom/1‑bath, and detached studio; 2,324 square feet of building area; RM1 zoning; Primary residence built in 2019, with gas heat and central air
