Discover a fantastic investment opportunity with this well-maintained triplex just minutes from downtown Milwaukie. Offering a strong 6.57% CAP rate and a solid rental history, this property is ideal for investors seeking reliable cash flow or owner-occupants looking to offset their mortgage. Choose to maximize income by leasing all three units or live in one unit while renting the other two—a flexible setup that suits a variety of investment strategies. The property also features convenient off-street parking for tenants. Residents will love the unbeatable location, with easy access to the Milwaukie waterfront, pFriem Brewing, the Milwaukie Farmers Market, Fred Meyer, New Seasons Market, and a variety of local shops, restaurants, and amenities. Recent updates include two new water heaters and a newer roof, providing added value and peace of mind. Whether you're expanding your investment portfolio or looking for a smart owner-occupied property, this triplex offers an exceptional combination of location, flexibility, and income potential.
Pending
$650,000
2712 SE Lakewood Dr, Milwaukie, OR 97222
6beds
2,740sqft
Multi Family
Built in 1995
-- sqft lot
$-- Zestimate®
$237/sqft
$-- HOA
What's special
Off-street parking for tenantsNewer roof
- 41 days
- 384
- 40
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Daniel Bruno 503-936-8160,
Cascade Hasson Sotheby's International Realty
Source: RMLS (OR),MLS#: 110879486
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 4
- Full bathrooms: 3
- Partial bathrooms: 1
Cooling
- None
Appliances
- Included: Dishwasher, Range, Refrigerator, Washer/Dryer, Electric Water Heater
Features
- Basement: Crawl Space
Interior area
- Total structure area: 2,740
- Total interior livable area: 2,740 sqft
Property
Parking
- Total spaces: 4
- Parking features: Assigned, Off Street
Features
- Stories: 2
Lot
- Features: Level, SqFt 5000 to 6999
Details
- Parcel number: 01694722
- Zoning: HDR
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Vinyl Siding
- Foundation: Concrete Perimeter
- Roof: Composition
Condition
- Year built: 1995
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
HOA
- Has HOA: No
Location
- Region: Milwaukie
Financial & listing details
- Price per square foot: $237/sqft
- Tax assessed value: $896,207
- Annual tax amount: $9,264
- Date on market: 7/24/2026
- Cumulative days on market: 41 days
- Listing terms: Cash,Conventional,FHA,VA Loan
- Total actual rent: 4800
- Road surface type: Paved
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/11/2026 | Pending sale | $650,000$237/sqft |
Source:  RMLS (OR) #110879486 Report a problem | ||
| 7/25/2026 | Listed for sale | $650,000+92.9%$237/sqft |
Source: RMLS (OR) #110879486 Report a problem | ||
| 5/9/2025 | Listing removed | $1,550$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 4/22/2025 | Listed for rent | $1,550$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 2/13/2025 | Listing removed | $1,550$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 1/23/2025 | Listed for rent | $1,550+12.7%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 3/7/2021 | Listing removed | -- |
Source: Zillow Rental Manager Report a problem | ||
| 2/23/2021 | Listed for rent | $1,375+10%$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 8/8/2018 | Listing removed | $1,250 |
Source: Owner Report a problem | ||
| 7/31/2018 | Listed for rent | $1,250 |
Source: Owner Report a problem | ||
| 4/7/2015 | Sold | $337,000+7%$123/sqft |
Source: RMLS (OR) #14392853 Report a problem | ||
| 2/16/2005 | Sold | $315,000$115/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $9,264 +3.7% | $488,474 +3% |
| 2024 | $8,936 +2.9% | $474,247 +3% |
| 2023 | $8,683 +5.7% | $460,434 +3% |
| 2022 | $8,216 +3.8% | $447,024 +3% |
| 2021 | $7,916 +3.3% | $434,004 +3% |
| 2020 | $7,666 +1.5% | $421,364 +3% |
| 2019 | $7,555 +14.3% | $409,092 +3% |
| 2018 | $6,610 | $397,177 +3% |
| 2017 | $6,610 +7.1% | $385,609 +3% |
| 2016 | $6,169 | $374,378 +3% |
| 2015 | $6,169 +2.9% | $363,474 +3% |
| 2014 | $5,993 +9.1% | $352,887 +3% |
| 2013 | $5,494 +3.8% | $342,609 +3.2% |
| 2012 | $5,291 -3.2% | $331,909 0% |
| 2011 | $5,466 0% | $331,929 -0.2% |
| 2010 | $5,467 +2.8% | $332,630 +3% |
| 2009 | $5,321 +6.5% | $322,942 +3% |
| 2008 | $4,995 +2.4% | $313,536 +3% |
| 2007 | $4,879 +11.7% | $304,404 +3% |
| 2006 | $4,367 +1.5% | $295,538 +3% |
| 2005 | $4,302 +3% | $286,930 +3% |
| 2004 | $4,178 +3.1% | $278,573 +3% |
| 2003 | $4,054 +0.9% | $270,459 +3% |
| 2002 | $4,018 +5.8% | $262,582 +3% |
| 2001 | $3,799 +0.8% | $254,934 +3% |
| 2000 | $3,768 | $247,509 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: Oak Grove
Nearby schools
Schools provided by the listing agent
- Elementary: Oak Grove
- Middle: Alder Creek
- High: Putnam
Source: RMLS (OR). This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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