3392 Se WAVERLEIGH Blvd, Portland, OR 97202

• 2,787 sqft

Property Description

Excellent Investment Opportunity in the Highly Desirable Waverleigh Heights Neighborhood!This well-maintained, single-level 2,783 SF triplex, built in 1958, has been owned by only two owners since it was constructed—a rare opportunity to acquire a pride-of-ownership property in one of Southeast Portland's most sought-after neighborhoods.The property features one spacious 2-bedroom, 2-bath unit complete with a mini-split heating and air conditioning system, cozy fireplace, private fenced backyard, and an attached 2-car garage. The two additional units each offer 1 bedroom and 1 bath, providing an excellent mix of unit sizes for a variety of tenants.All three units feature hardwood floors and full individual basements with washer/dryer hookups, offering abundant storage and added convenience. The property's solid construction, timeless layout, and desirable location make it an attractive long-term investment opportunity.The property offers a 4.5% capitalization rate with current gross annual income of $56,340 and a Net Operating Income (NOI) of $37,159, providing investors with immediate income potential and long-term appreciation opportunity in a highly desirable Southeast Portland location.Ideally located just minutes from Cleveland High School Field, nearby bus lines, and the shops, restaurants, and everyday conveniences along SE Powell Boulevard, this property also offers easy access to downtown Portland and surrounding neighborhoods.Whether you're looking to expand your investment portfolio or own a quality multifamily property in a prime Southeast Portland location, this exceptional Waverleigh Heights triplex is an opportunity you won't want to miss.

Listing Status:

Active

Date Added:

July 17, 2026

Data Last Updated:

July 22, 2026 at 5:40PM

Listing Office:

Realty First : 503-343-5825

Listing Agent:

Greg Carnese : 503-998-4135

MLS ID:

684280159

Interior

• Heating: BaseboardCeiling

Exterior

• General: BrickWood siding
• Parking: GarageOn street

Construction

• Roofing: Composition
• General: Concrete perimeter

Location

• Road/Access: Concrete
• Golf: Front yard landscaping
• Originating MLS: Regional Multiple Listing ServiceInc.
• County: Multnomah

Lot

• Zoning: RM2WAVERLEIGH HTSBLOCK 30LOT 14&15R298975

Utilities

• Water: Public water
• Sewer: Public sewer

Financial

• Source: Regional Multiple Listing ServiceInc.