Bought with Windermere Northwest Living
$1,224,000
$1,249,000
2.0%For more information regarding the value of a property, please contact us for a free consultation.
2,668 SqFt
SOLD DATE : 08/31/2023
Key Details
Sold Price $1,224,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,668 sqft
Price per Sqft $458
Subdivision Division/Clinton
MLS Listing ID 23566261
Sold Date 08/31/23
Year Built 1955
Annual Tax Amount $10,969
Tax Year 2022
Property Description
This investment opportunity is a top performer in the market, boasting a 6.49% cap rate and a 12.82x gross rent multiplier, with great potential for tenant occupancy.. The 4plex features a 1955 original construction, which underwent renovations in 2016, and is situated just 1.5 blocks away from the vibrant SE Division. All units rent quickly, usually within 1-2 showings, and there is no historical vacancy. The property includes an expansive 3BR unit with central HVAC, two gas fireplaces, a private washer/dryer, a dishwasher, and a large patio. This unit has a near-term lease expiration perfect for owner occupant. Additionally, there are three beautiful 1BR units, each with hardwood floors, large windows, private outdoor spaces, and mid-century charm. The property comes with two garages, basement laundry facilities, and tenant storage areas. The seller is a licensed real estate agent in Oregon. Unit sizes are approximate.
Location
State OR
County Multnomah
Community Laundry
Area _143
Zoning R25
Rooms
Basement Daylight, Exterior Entry, Partially Finished
Interior
Heating Forced Air
Cooling Central Air
Exterior
Community Features Laundry
View Y/N true
View Seasonal
Roof Type Shingle
Garage No
Building
Lot Description Private
Story 1
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 1
Schools
Elementary Schools Abernethy
Middle Schools Hosford
High Schools Cleveland
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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