Presenting a premier multi-family investment opportunity in SE Portland that perfectly balances sophistication and potential, with a cap rate above 5%. This expansive triplex features 8 bedrooms and 6 bathrooms across 3,172 sq ft of living space. Each unit is equipped with modern amenities, providing the comfort and convenience tenants seek, ensuring high satisfaction, and keeping vacancy rates remarkably low. Recent updates throughout the property have reduced maintenance needs, allowing you to enjoy the benefits of a reliable and consistent cash flow with minimal oversight. The inclusion of an 8-car parking lot further enhances the property's appeal, offering convenience that residents will appreciate.What truly sets this property apart is its zoning, which allows for the construction of additional housing units. This opens the door to significant income growth, making this investment even more enticing. The potential to expand and increase revenue is a rare opportunity in today’s market.Located just minutes from a vibrant array of dining options, bars, and entertainment venues, this property is in a prime location that tenants will love. It’s also ideally situated on a bus line, with easy freeway access, and only 15 minutes from downtown Portland. Nearby hospitals and major employment centers add to its desirability, ensuring strong and steady tenant demand.Investors will quickly recognize the exceptional value this property offers. However, we advise all buyers to conduct their own due diligence regarding zoning to fully capitalize on the available opportunities. With a strong rental income already in place, room for growth, and a cap rate above 5%, this property is a standout choice for investors seeking both stability and potential.
Huge cash flow + development opportunity! Oversize lot AND a spotless turnkey triplex for immediate income while building more units or garages. Updated w/newer kitchens, baths, laundry room & a private fenced yard for each. Tenants pay electric, sewer and water charges in addition to rents! Buyers due diligence required. Seller will do 1031 exchange @ no cost to buyer-DO NOT Disturb Tenants-must have agent accompany when showing!!
RMLS #13273550
Dec 9, 2013
Sold
$310,000
$98/sq ft
Nov 12, 2013
Pending
—
Nov 3, 2013
Contingent
—
Oct 17, 2013
Relisted
—
Aug 12, 2013
Contingent
—
Aug 6, 2013
Listed
$299,900
$95/sq ft
+8
Newer Triplex with Spacious units. Each unit has vaulted ceilings upstairs, Wall Air Conditioning Units, Laundry Rooms/Closets & Private Yards. Unit A has been recently updated w/new carpets & wood floors in Kitchen. Ample off Street Parking & Shed for Extra Storage.
Public Records
Feb 13, 2006
Sold
$450,000
$142/sq ft
Public Records
Jul 1, 2002
Sold
$100,000
$32/sq ft
Public Records
Jul 1, 2002
Sold
$580,000
$183/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$9,086 (+4.4%)
2024
$8,703 (+4.5%)
2023
$8,325 (+5.5%)
2022
$7,891 (+1.7%)
2021
$7,761 (+10.4%)
2020
$7,031 (+3.3%)
2019
$6,807 (+3.2%)
2018
$6,598 (+3.8%)
2017
$6,354 (+2.7%)
2016
$6,186 (+9.7%)
2015
$5,638 (−2.5%)
2014
$5,781 (+9.2%)
2013
$5,293 (−3.5%)
2012
$5,484 (+3.6%)
2011
$5,295 (+1.9%)
2010
$5,196 (+2.3%)
2009
$5,079
Tax history for 13412 SE Stark St
Year
Property tax
Land + Additions
Assessment*
2025
$9,086 (+4.4%)
2024
$8,703 (+4.5%)
2023
$8,325 (+5.5%)
2022
$7,891 (+1.7%)
2021
$7,761 (+10.4%)
2020
$7,031 (+3.3%)
2019
$6,807 (+3.2%)
2018
$6,598 (+3.8%)
2017
$6,354 (+2.7%)
2016
$6,186 (+9.7%)
2015
$5,638 (−2.5%)
2014
$5,781 (+9.2%)
2013
$5,293 (−3.5%)
2012
$5,484 (+3.6%)
2011
$5,295 (+1.9%)
2010
$5,196 (+2.3%)
2009
$5,079
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Permits
Beds
2
Baths
4.5
Stories
2
Lot width
—
Lot depth
—
Lot size
0.29 Acres
Year renovated
2006
Sq. Ft.
3,172
Year built
2006
Style
Multi-Family (2-4 Unit)
County
Multnomah County
APN
R283940
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 15, 2026.
RM1
Residential Multi-Dwelling 1 Zone
The RM1 zone is a low-scale multi-dwelling zone that is generally applied in locations intended to provide a transition in scale to single-dwelling residential areas, such as the edges of mixed-use centers and civic corridors, and along or near neighborhood corridors. Allowed housing is characterized by one to three story buildings that relate to the patterns of residential neighborhoods, but at a somewhat larger scale and building coverage than allowed in the single-dwelling zones. The major types of new development will be duplexes, triplexes, rowhouses, courtyard housing, small apartment buildings, and other relatively small-scale multi-dwelling and small-lot housing types that are compatible with the characteristics of Portland's residential neighborhoods.
Permitted uses
Include but are not limited to:
Housing
Housing-Group
Housing-Single unit
Housing-Multiple units
Housing-Senior
Jan 6, 2006 • Final
Residential bldg/trade
Demolition
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.