1700 Ne 231ST Ct, Wood Village, OR 97060

• 2,716 sqft

Property Description

Portland Area Investors!! Are you looking for an investment property with great cash flow that pencils out to an excellent cap rate, AND isn't impacted by City of Portland rental laws? 2026 cap rate projected at 6.41. This Wood Village triplex is in a great location and has been exceptionally well cared for. The large .25-acre lot is on a quiet cul-de-sac with quick access to I-84, bus lines, public parks, dining, retail and outlet shopping. Recent investment of approximately $25K in improvements. The units have all benefited from interior updates intended to keep maintenance costs low. Each one level unit has a washer/dryer hookup, a fully fenced yard, and a covered patio. Two units have new storage sheds for renters' use. The numerous updates you'll find inside and out include new exterior paint in 2021, vinyl windows, LVP flooring, and even granite countertops & stainless-steel kitchen appliances in one unit. There are also 7 off-street parking spaces. This is a unique opportunity to obtain a high-quality investment property that has been in the same ownership for over 40 years. Please write offer subject to interior inspection. Do not walk property or disturb renters.

Listing Status:

Active

Date Added:

May 3, 2026

Data Last Updated:

August 6, 2026 at 2:42AM

Listing Office:

RE/MAX Equity Group : 503-653-0607

Listing Agent:

Cindy Smith : 503-703-2596

MLS ID:

211596624

Interior

• Basement: None
• A/C: None
• Heating: Forced air

Exterior

• General: Lap sidingPanelT 111 siding
• Parking: AssignedPavedParking spaces: 7

Construction

• Roofing: Composition
• General: Concrete perimeter

Location

• Road/Access: Paved
• Originating MLS: Regional Multiple Listing ServiceInc.
• County: Multnomah

Lot

• Zoning: MR2COREANDERLOT 15R140013

Utilities

• Water: Public water
• Sewer: Public sewer

Financial

• Source: Regional Multiple Listing ServiceInc.