5 Triplexes for Sale in Portland Under 1M

Have you toyed with the idea of investing in rental property? Wanting to diversify and add a triplex to your real estate portfolio? Investing in multi-family properties is becoming more doable in Portland, thanks to the Residential Infill Project, which allows two ADUs per property as of August, 2021. We have all the real estate for sale in Portland right here.

If you’re new to the world of renting, please take a look at our article, Portland Rental Law: What Landlords Should Know in 2021.

This week, we searched for triplexes to see what we could find. Below are five triplexes for sale in Portland under 1M in a variety of price brackets and locations across Portland we think are worth a look.

We found these by first searching all of Portland, then narrowed our focus by using the price filter and specifying “Multi-family” from the top navigation bar.

Take a look and see what you think!

#1 – 12011 SE Market St

The larger unit on this property has has a garage, and the two smaller ones have storage closets. All have real wood panels, wall-to-wall carpeting, fireplaces, dishwashers, and washer/dryer hook ups.

#2 – 8065 SE 9th Ave

The lower duplex (Unit A—Photos #2, 8-11) is a 2-bedroom/1-bath, 810 sq. ft. The upper duplex (Unit B—Photos #2, 12-14) is a 1-bedroom/1-bath, 692 sq. ft. The ADU/Townhouse (Unit C—Photos #3-7) is a 2-bedroom/1-bath, 800 sq. ft. Onsite laundry and A/B tenant storage are available in the basement. Units A and B both have a combination of main gas heat with Cadets in the bedrooms and baths. Unit C has washer/dryer hookups and electric heat/Cadet heaters. Tenants in Units A and B are month to month. Tenant in Unit C rented on 9/21 with a 1-year lease.

#3 – 3417 SW Naito Pkwy

This Beautiful historic Victorian home is close to OHSU Medical school, OHSU Dental school, PSU, National University of Natural Medicine, and Downtown Portland. A fantastic, solid rental, this charming home offers hardwood floors, stained glass windows, wainscoting, and clawfoot bathtubs. The kitchens in Units 1 and 3 have been updated, and the property has a newer roof and exterior paint. Priced $35K below recent appraisal (as of 7/2021), this home has lots of potential and built-in equity. The current rent is currently way under market.

#4 – 4816 NE 17th Ave

This light and bright Craftsman has been remodeled, with a new kitchen in the main house and major mechanical, electrical, and plumbing upgrades in 2013/2014. The home has Doug fir flooring throughout, and the large primary suite is upstairs. The property also includes 2 ADUs. Appliances are included, and each unit has its own washer/dryer. With a full front porch, a garden/patio area, and 1 block to cafes and NE Alberta shops, this property exudes comfortable urban core living.

#5 – 2187 NW Overton St

This timeless triplex is located in an unbeatable NW Alphabet District location. Exceptionally maintained with continual updates, including seismic strapping, this property has remodeled units and conceptual plans to finish the loft space with more bedrooms, a kitchen, and a bath! This gem is a fantastic investment or owner/user property. It boasts 3 parking spaces, a huge basement for storage/laundry, and a charming porch swing to enjoy one of the best neighborhoods Portland has to offer. Offers are subject to interior inspection.

Looking for an Investment Property?

Interested in any of these properties or any other investment properties in Portland? Give us a call! Our top 1% buyers team has been helping Portland homebuyers find their next ideal property for over 17 years. With our experience and knowledge of the entire Portland metro area, we have no doubt we can help you do the same.

Written by Stephen FitzMaurice
Published on December 9, 2021