3-Unit Triplex with Private
New
For Sale
$650,000
9469 N SAINT LOUIS Ave, Portland, OR 97203
MultiFamily, Portland, OR
Property Size2,304 SF
Lot Size0.13 Acres
Price / SF$282.12
Days on Market2
Property Features for 9469 N SAINT LOUIS Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 6, Bedroom 3, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 5, Bathroom 3
Subdivision
Saint Johns
View
Territorial
Elementary school
Sitton
Middle school
George
High school
Roosevelt
Directions
N Lombard St, R on N Saint Louis Ave to property.
Standard status
Active
APN
R228773
Size
2,304 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
OAK PARK ADD, BLOCK 7, LOT 6 TL 10900
Tax Annual Amount
9400
Legal Description
OAK PARK ADD, BLOCK 7, LOT 6 TL 10900
Utilities
Heating system
Natural Gas, Zoned
Cooling system
Wall Unit(s)
Amenities
gas fireplace
in-unit washer/dryer
gas range
private deck
Building Details
Year built
1973
Floors in Building
2
Number of units
3
Roof type
Composition
Listing Agency:
Opt
Listed By:
Rex Buchanan
(503) 484-8739
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 23 at 3:06AM
MLS# 692916455
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.
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Investment Insights
Based on property information with market context.
This 1973 triplex contains 2,304 square feet across three two-bedroom, one-bath residences. Each home has a separate kitchen, an open floor plan, a gas range, newer appliances, and a stackable washer and dryer. Gas-burning stoves serve all three units, and the upper-level residence includes a private deck. Heating is natural gas with zoned controls; cooling is provided by wall units. The property sits on a 0.125-acre lot and has off-street parking.
One residence is vacant, while the other two are occupied. The property is in Portland’s 97203 ZIP code, near St. Johns shops and cafes, parks, and transit. Downtown Portland is described as an easy commute. Zoning is R1.
One residence is vacant, while the other two are occupied. The property is in Portland’s 97203 ZIP code, near St. Johns shops and cafes, parks, and transit. Downtown Portland is described as an easy commute. Zoning is R1.
Key Highlights
- Three residences, each with 2 bedrooms and 1 bathroom
- 2,304‑square‑foot building on a 0.125‑acre lot
- One unit vacant; two units occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,108
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$642,160
$642.2K
Cap Rate 7%
$458,686
$458.7K
Cap Rate 9%
$356,756
$356.8K
Market Conditions
NOI Build-Up for 2,304 SF
Gross rent
$48.4K $21.00/SF
− Vacancy
−$2.5K −$1.09/SF
EGI
$45.9K $19.91/SF
− OpEx
−$13.8K −$5.97/SF
NOI
$32.1K $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%
$642,160
Cap Rate 7%
$458,686
Cap Rate 9%
$356,756
Alternative Uses
Best Use
Multifamily LT 5
$458.7K
$401.4K – $535.1K
NOI $32,108 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$422.6K
$369.8K – $493.1K
NOI $29,583 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$647.0K
$566.1K – $754.9K
NOI $45,291 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
742
Businesses Nearby
Explore this area
Business Placement
Demographics for 97203, OR
33,763
Population
13,462
Households
2.5
Avg Household Size
34
Median Age
45%
College-Educated
90%
High-School Grad
10.8 sq mi
ZIP Area
3,126
Density / Sq Mi
$77,619
Median Household Income
$46,152
Median Earnings
$1,551
Median Rent
$468,600
Median Home Value
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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 - Each residence has its own kitchen, gas range, and stackable washer and dryer.
Where is this triplex located?
The property is located at 9469 N SAINT LOUIS Ave Portland, OR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three residences, each with 2 bedrooms and 1 bathroom; 2,304‑square‑foot building on a 0.125‑acre lot; One unit vacant; two units occupied
