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About this home
Perfect opportunity to own an income-producing triplex in the heart of SE Portland. Also, this has the ability to build a large scale multi-family condo or apartment building due to its large lot size, and stellar location. Zoned R2 is a developers dream. This multi-unit property offers investors the potential to generate rental income.The three-unit configuration provides flexibility for investors seeking to build or expand their rental portfolio, with the potential for multiple income streams from a single property. The property’s SE Portland location offers convenient access to neighborhood amenities, shopping, dining, parks, public transportation, and major commuter routes.Whether you're an experienced investor looking to add to your portfolio or exploring your first multifamily investment, 3907 SE Salmon St presents an opportunity to own a residential income property in one of Portland's established and desirable areas.
Multi-familyProperty Type
1978Year Built
8,712 sq ftLot Size
$351Price/Sq.Ft.
4 spacesParking
Listed by Samuel Real• Engel & Volkers Portland Rose City
Listed by Nicholas Eckelman• Engel & Volkers Portland Rose City
Sunnyside, located between SE Belmont Street and SE Hawthorne Boulevard, is a walkable and residential Portland neighborhood with tree-lined blocks and corner cafés. The neighborhood’s character concentrates around SE Belmont Street near SE 33rd Avenue, where indie boutiques, espresso bars, and patio dining set a steady street-level hum. Early-20th-century bungalows and classic Portland foursquares mix with small apartment courts and tidy front gardens. Movie nights at Laurelhurst Theater and browsing at Belmont Books read like local rituals. Parks and school grounds thread in pockets of green, while bike routes stitch the grid into nearby districts.
Provided by Walk Score and Local Logic
Offer insights
3907 SE Salmon St · $850,000
$848K and above
75% chance or better to win
Why $848K+ is a strong offer
DAYS ON MARKET
60 days
The average home goes pending in 51 days.
SALE-TO-LIST
97.9%
Most homes are selling 2% below list price.
About offer insights
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Crawl space basement
No additional storage
Bedrooms
Three 2-bedroom units
Bathrooms
Each unit has 1 bathroom
Kitchen
Hot water by electricity
Laundry & utility
No separate laundry details provided
Heating & cooling
Wall furnace heating
No central air
Exterior features
City views
Level lot
Paved road access
Home design
Multi-family property
Not attached
Existing condition
Parking
Assigned parking for 4 vehicles
Construction
Built in 1978
Composition roof
Cedar and shake siding
Concrete perimeter foundation
Utilities
Electric fuel
Public water
Public sewer
Financial info
Three-unit building with individual rents: $1,768; $1,850; $2,070
Building area total reported as 2,420
Cap rate 2.83
Gross rent multiplier 16.02
Rent includes trash collection
Other
Zoning: R2.5
Electricity and solar
View estimated energy costs and solar savings for this home
As the MLS and public records start to fill up, we'll list the details here.
Public record
Public record
Zoning
Permits
Beds
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Baths
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Stories
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Lot width
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Lot depth
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Lot size
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Year renovated
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Finished Sq. Ft.
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Unfinished Sq. Ft.
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Total Sq. Ft.
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Year built
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Style
Multi-Family (2-4 Unit)
County
Multnomah County
APN
R281227
Parking Spaces
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Basement
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Accessible
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HOA Dues
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Garage
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Features
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Last updated by owner on Aug 27, 2026.
RM2
Residential Multi-Dwelling 2 zone
The RM2 zone is a medium-scale multi-dwelling zone that is generally applied in and around a variety of centers and corridors that are well-served by transit. Allowed housing is characterized by buildings of up to three or four stories with a higher percentage of building coverage than in the RM1 zone, while still providing opportunities for landscaping and outdoor spaces that integrate with residential neighborhood characteristics. The major types of new housing development will be a diverse range of multi-dwelling structures and other compact housing that contribute to the intended urban scale of centers and corridors, while providing transitions in scale and characteristics to lower-scale residential neighborhoods.
Permitted uses
Include but are not limited to:
Housing
Housing-Group
Housing-Single unit
Housing-Multiple units
Housing-Senior
Nov 2, 2006 • Final
Electrical
Electrical
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
3/10 Heat Factor
7 days above 92° 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, 21 days in 30 years
Provided by First Street
Historical weather
Portland, OR • 97214
Average low and high temperatures (°F)
47
37
50
38
57
44
65
46
71
50
77
55
83
59
83
63
77
58
63
49
53
44
51
43
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
74/ 100
Good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
8.5 hrs
4.1 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 3907 SE Salmon St
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $599,000 and $930,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $599K to $930K.