About 1700 Ne 231st Ct
Portland Area Investors!! This triplex has great cash flow, pencils out to a 6.38% cap rate, and isn't impacted by City of Portland rental laws! Current monthly rents total $5524 and all three units are fully rented. This Wood Village triplex is in an excellent location and has been exceptionally well cared for. The large .25-acre lot is on a quiet cul-de-sac with quick access to I-84, bus lines, public parks, dining, retail and outlet shopping. Recent investment of approximately $25K in improvements. The units have all benefited from interior updates intended to keep maintenance costs low. Each one level unit has a washer/dryer hookup, a fully fenced yard, and a covered patio. Two units have new storage sheds for renters' use. The numerous updates you'll find inside and out include new exterior paint in 2021, vinyl windows, LVP flooring, and even granite countertops & stainless-steel kitchen appliances in one unit. There are also 7 off-street parking spaces. This is a unique opportunity to obtain a high-quality investment property that has been in the same ownership for over 40 years. Seller will consider Buyer credit to assist with interest rate buydown! Please write offer subject to full inspection. Do not walk property or disturb renters.
Features of 1700 Ne 231st Ct
| MLS® # | 169064549 |
|---|---|
| Price | $879,900 |
| Bathrooms | 0.00 |
| Square Footage | 2,716 |
| Acres | 0.25 |
| Year Built | 1980 |
| Type | Multi Family |
| Status | Active |
Community Information
| Address | 1700 Ne 231st Ct |
|---|---|
| Area | 144 - Gresham, Sandy, Troutdale, Corbett |
| City | Wood Village |
| County | Multnomah |
| State | OR |
| Zip Code | 97060 |
Amenities
| Parking Spaces | 7 |
|---|---|
| Parking | Assigned, Paved |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Forced Air |
|---|---|
| Cooling | None |
| Fireplace | No |
| # of Stories | 1 |
Exterior
| Exterior | Lap Siding, Panel, T-111 Siding |
|---|---|
| Lot Description | Cul-de-sac |
| Roof | Composition |
| Foundation | Concrete Perimeter |
School Information
| Elementary | Salish Ponds |
|---|---|
| Middle | Reynolds |
| High | Reynolds |
Additional Information
| Date Listed | April 16th, 2025 |
|---|---|
| Days on Market | 178 |
| Zoning | MR2 |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | RE/MAX Equity Group |
|---|