3628 SE Wake ST

Rare opportunity to own a fully renovated triplex in the heart of Milwaukie, ready to go from day one. Whether you're an investor looking to fill all three units at today's market rents, or a buyer who wants to live in one unit and let the others help pay the mortgage, this property checks every box.The main floor unit offers two bedrooms and two bathrooms, plus two additional finished basement rooms that could become legal bedrooms three and four with the addition of egress windows. With its generous layout, it makes an ideal owner occupied home. Upstairs you'll find a studio apartment and a separate one bedroom unit, both freshly updated, vacant, and ready for tenants of your choosing. The big work has already been done for you. In 2026 the property received new Hardie Plank siding, new luxury vinyl flooring and carpet in every unit, all new water heaters and toilets, and fresh interior and exterior paint throughout. All three kitchens feature new appliances, the plumbing has been updated throughout, and the light fixtures have been refreshed. You'll also enjoy vinyl windows, a large, 2024 high efficiency gas furnace, a roof replaced in 2018, and a low maintenance Trex deck for relaxing outdoors. A detached garage offers the potential for additional income. The lot is very large, with room to add more parking or even explore an additional ADU, buyer to verify. Set in a great Milwaukie location, convenient to shopping, dining, parks, and easy commutes throughout the Portland metro. Turnkey triplexes like this don't come along often, so schedule your showing today!