See all 33 photos

Listed by Richard Ballew Realty

$789,000

Est. payment - /mo

Save Virtual Tour

7,405 Sqft Lot

Price Dropped by $61K

1120 SW BROADWAY DR Portland, OR 97201

Save Virtual Tour

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Donna Jo Merrifield

donnajomerrifield@epique.me +1(541) 981-1436

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 374309510

HOA Y/N No

Year Built 1904

Annual Tax Amount $6,463

Tax Year 2024

Lot Size 7,405 Sqft

Property Description

7.36% CAP RATE | LEGAL TRIPLEX | FULLY REMODELED | EXCEPTIONAL LOCATION | STRONG RENTAL HISTORY A rare opportunity to own a legal triplex in one of Southwest Portland's most desirable locations. Offering an estimated 7.36% capitalization rate, low annual property taxes of $6,214.72, beautifully remodeled units, and an outstanding rental history, this is the type of investment that is difficult to find. The property's updated finishes, separate electrical meters, and strong tenant appeal have consistently resulted in quick leasing and reliable income.Perfectly positioned just 1.8 miles from Historic Council Crest Park—Portland's highest point and one of the city's premier scenic destinations—the property also enjoys close proximity to OHSU, downtown Portland, major employers, shopping, dining, and public transportation. Residents appreciate the peaceful setting with territorial views and abundant wildlife while remaining just minutes from the heart of the city. Each unit has been thoughtfully updated and includes its own washer and dryer, a highly desirable amenity that enhances tenant satisfaction and marketability. Additional improvements include new electrical meters, further enhancing the property's long-term functionality and appeal. For investors seeking stable cash flow, the combination of low operating expenses, quality renovations, excellent tenant demand, and a premier Southwest Portland location creates a compelling investment opportunity. Rare Bonus Opportunity: An adjacent vacant lot is available for purchase either separately or together with the triplex, providing additional flexibility for future expansion, investment, or development potential. Buyers should perform their own due diligence regarding permitted uses and development possibilities.Whether you're expanding an investment portfolio or completing a 1031 exchange, this property offers an outstanding combination of location, quality, and income potential that is seldom available.

Location

State OR

County Multnomah

Area _148

Zoning R10

Rooms

Basement Daylight

Interior

Heating Baseboard, Forced Air

Cooling None

Exterior

View Park Greenbelt, Trees Woods, Valley

Roof Type Composition

Garage No

Building

Lot Description Green Belt, Public Road, Sloped, Trees, Wooded

Story 3

Foundation Slab

Sewer Septic Tank

Water Public Water

Level or Stories 3

Schools

Elementary Schools Ainsworth

Middle Schools West Sylvan

High Schools Lincoln

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://listings.pdxpics.com/videos/01999b85-90fb-73ab-ad53-ad3e9337b310

Regional Multiple Listing Service (RMLS)

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

Donna Jo Merrifield

Principal Broker, South/Central OR Area Leader, Dream & Key Group Team Leader | License ID: 971200102

+1(541) 981-1436

1120 SW BROADWAY DR Portland, OR 97201

Donna Jo Merrifield

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

Go tour this home

1120 SW BROADWAY DR