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Listed by ELEETE Real Estate
$600,000
Est. payment /mo
4,371 SqFt
Pending
4110 NE 42ND AVE Portland, OR 97218
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Key Details
Property Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 4,371 sqft
Price per Sqft $137
Subdivision Beaumont - Wilshire
MLS Listing ID 586637231
HOA Y/N No
Year Built 1973
Annual Tax Amount $11,068
Tax Year 2025
Lot Size 7,405 Sqft
Property Description
Classic 1973 garden-style triplex on a 7,500 SF corner lot in Portland's Central Northeast submarket, fully leased, professionally managed, and operating at stabilized occupancy. Three large 2-bed/2-bath units average about 1,457 SF and function more like townhomes, with in-unit laundry, dishwashers, full appliance packages, and private patios/balconies, offering above-average unit size versus typical competing stock. Six on-site parking spaces (three attached garages plus three paved surface stalls), level topography, and average, easy-to-maintain landscaping support long-term operating efficiency.For investors, the asset is 100% occupied with stable tenancy, clean rent rolls, and professionally prepared financials in a Central Northeast submarket where occupancy and rent growth have shown consistent long-term performance and vacancy is concluded at just 3% in the appraisal's underwriting. The triplex is zoned R5 with legal, conforming multifamily use and is appraised at a Market Value As Is of $600,000 ($200,000 per unit), supported by both income capitalization and sales comparison approaches, providing a clear basis for pricing and financing. Proximity to I-84, TriMet, and established retail and employment nodes helps sustain renter demand and supports durable cash flow and long-term value appreciation.
Location
State OR
County Multnomah
Area _142
Zoning R5
Rooms
Basement Crawl Space
Interior
Heating Wall Heater
Cooling None
Exterior
Garage Spaces 3.0
View Territorial
Roof Type Shingle
Garage No
Building
Lot Description Level
Story 2
Foundation Slab
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Alameda
Middle Schools Beaumont
High Schools Grant
Others
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
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