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About this home
Excellent, well-maintained four-plex within a short walk to OHSU. Tucked away on a quiet, no-through street, this attractive property offers a peaceful residential setting with strong appeal to both owner-occupants and investors. One unit is currently vacant, creating the perfect opportunity for a buyer to move in immediately and offset their mortgage with rental income from the other three units. For investors, the property benefits from strong rents and a reliable tenant pool of medical professionals and staff who value close proximity to OHSU. The building is in good condition and features assigned off-street parking for each unit, east-facing views, and a private deck ideal for enjoying morning coffee or relaxing outdoors. Whether you're looking to build wealth by living in one unit while your tenants help pay the mortgage, or seeking a stable investment in one of Portland's most consistently desirable rental locations, this four-plex is an outstanding opportunity.
Homestead, located between the Willamette River and Terwilliger Boulevard, is a residential and hillside Portland neighborhood with river-view slopes and wooded ravines. The neighborhood’s character concentrates around the South Waterfront Greenway and the Portland Aerial Tram landing, where bike paths, riverwalk promenades, and café patios set a steady, urban-outdoors rhythm. Contemporary mid-rises and newer condos line the flats, while winding streets climb into quieter pockets above. The South Waterfront Park blocks read as a linear front porch along the river. Oregon Health & Science University and the Center for Health & Healing anchor daily motion and a campus-like feel. Trails and viewpoints along Marquam Nature Park stitch the terrain together.
Provided by Walk Score and Local Logic
Offer insights
3216 SW 11th Ave · $934,900
$932K and above
75% chance or better to win
Why $932K+ is a strong offer
DAYS ON MARKET
84 days
The average home goes pending in 29 days.
SALE-TO-LIST
100.1%
Most homes are selling 0% above list price.
About offer insights
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Dining
Interior features
Individual storage units
Partial basement
Updated/remodeled condition
City and territorial views
Bedrooms
Two 2-bedroom units (approximately 850 area each)
Two 1-bedroom units (approximately 650 area each)
Bathrooms
Each unit has 1 bathroom
Kitchen
Range in each unit
Refrigerator in each unit
Laundry & utility
On-site laundry (community feature)
Flooring
Wood floors in each unit
Heating & cooling
Wall heaters
Electric hot water
Exterior features
Brick and wood siding exterior
Decks for units
Paved road access
Home design
Multi-family property
Not attached (detached building)
Built in 1974
Updated/remodeled
Parking
Assigned parking
Total of 5 parking spaces
Construction
Composition roof
Concrete perimeter foundation
Utilities
Public water
Public sewer
Electric service
Green certified
HOA & community
Laundry available on-site
Zoned RM3
Financial info
Four total units
Unit rents reported: $1,785; $1,560; $1,215; plus one unit (rent not listed)
Gross rent multiplier 13.57
Cap rate 4.21
Trash collection included in rent
Electricity and solar
View estimated energy costs and solar savings for this home
The RM3 zone is a medium to high density multi-dwelling zone applied near the Central City, and in centers, station areas, and along civic corridors that are served by frequent transit and are close to commercial services. It is intended for compact, urban development with a high percentage of building coverage and a strong building orientation to the pedestrian environment of streets. This zone is intended for areas where the established residential character includes landscaped front setbacks. Allowed housing is characterized by mid-rise buildings up to six stories tall. The Design overlay zone is applied to this zone.
Zone overlays
Design Overlay Zone
Permitted uses
Include but are not limited to:
Housing
Housing-Group
Housing-Single unit
Housing-Multiple units
Housing-Senior
Park & open space
Aug 9, 2018 • Final
Electrical
Electrical
Aug 3, 2012 • Final
Mechanical
Bathroom
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.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
2/10 Heat Factor
7 days above 91° expected this year, 14 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
10/10 Air Factor
19 unhealthy days expected this year, 20 days in 30 years
Provided by First Street
Historical weather
Portland, OR • 97239
Average low and high temperatures (°F)
47
37
49
38
56
43
64
45
70
50
77
54
83
59
84
62
75
58
61
49
52
44
50
42
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
83/ 100
Very good sunlight
Sunscore
This home ranks in the top 26% for direct sun exposure in the zip code. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.9 hrs
5.3 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 3216 SW 11th Ave
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $849,000 and $1,125,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $849K to $1.1M.