3321 SW US Veterans Hospital Rd, Portland, OR 97239
About this home
Turnkey, fully vacant triplex directly across from Oregon Health & Science University (OHSU) — Portland's largest employer — and the VA Medical Center. Positioned to capture the high-demand furnished mid-term rental market for traveling nurses, medical residents, and hospital staff. Lean expense structure with electric separately metered and water/sewer/trash billed back to tenants. Includes a large exterior-entry storage room with potential to convert into a spacious 4th unit.
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
Property details
Interior
Exterior
Finance
Kitchen
Bedroom
Living
Interior features
Basement storage
Unfinished basement
Bedrooms
Three 1-bedroom units (two units ~560, one unit ~730) — furnished
Bathrooms
Each unit has 1 bathroom
Kitchen
Each unit includes a range and refrigerator
Laundry & utility
On-site laundry available (community feature)
Flooring
Wood floors in units
Heating & cooling
Baseboard heating
No central air
Exterior features
Brick exterior
Paved road access
Home design
Multi-family building
Not attached to other properties
Existing condition
Parking
Off-street parking for 3 vehicles
Construction
Built in 1959
Block foundation
Membrane roof
Utilities
Electric fuel
Public water
Public sewer
Cable internet available
HOA & community
Zoned RM3
Community laundry
Financial info
Gross rent multiplier: 11.0
Capitalization rate: 7.62
Other
Three total units
Electricity and solar
View estimated energy costs and solar savings for this home
Sale and tax history for 3321 SW US Veterans Hospital Rd
Sale History
Tax History
Date
Event
Price
RMLS #233166758
Aug 26, 2026
Pending
—
Aug 12, 2026
Relisted
—
Jul 28, 2026
Pending
—
Jul 17, 2026
Listed
$799,900
$268/sq ft
TURBOTENANT #1
Jul 25, 2025
Rental Removed
$1,749
$1/sq ft
Jul 15, 2025
Price Changed
$1,749
$1/sq ft
Jul 2, 2025
Listed for Rent
$1,695
$1/sq ft
Mar 27, 2025
Rental Removed
$1,495
$1/sq ft
Mar 19, 2025
Listed for Rent
$1,495
$1/sq ft
RMLS #22607957
Dec 23, 2022
Sold
$400,000
$134/sq ft
Dec 16, 2022
Pending
—
Oct 7, 2022
Relisted
—
Oct 4, 2022
Pending
—
Sep 23, 2022
Relisted
—
Sep 12, 2022
Pending
—
Sep 2, 2022
Price Changed
$550,000
$185/sq ft
Jun 23, 2022
Price Changed
$629,000
$211/sq ft
May 11, 2022
Listed
$699,000
$235/sq ft
+16
LOCATION, LOCATION, LOCATION! This Triplex is situated across the street from Oregon Health & Science University. OHSU is the largest hospital in the state, and largest employer in Portland. Spacious 1 bedroom layout with classic interiors. Large shop/maintenance with tons of available storage space located on ground level. Recently up-zoned to the new RM3 multifamily zone as part of the "Better Housing by Design" zoning change.
As the MLS and public records start to fill up, we'll list the details here.
Public record
Public record
Zoning
Permits
Beds
—
Baths
—
Stories
—
Lot width
—
Lot depth
—
Lot size
—
Year renovated
—
Finished Sq. Ft.
—
Unfinished Sq. Ft.
—
Total Sq. Ft.
—
Year built
—
Style
Multi-Family (2-4 Unit)
County
Multnomah County
APN
R247265
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Nov 23, 2023.
RM3
D
Residential Multi-Dwelling 3 Zone
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
Jul 14, 2006 • Final
Plumbing
Install or repair a sanitary sewer line.
Plumbing
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
69/ 100
Moderate sunlight
Sunscore
There appears to be some shading by surrounding buildings, terrain, and vegetation.
9.4 hrs
4 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 3321 SW US Veterans Hospital Rd
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $749,000 and $1,075,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $749K to $1.1M.