Portland, OR 97233,13412 SE STARK ST
Portland, OR 97233,13412 SE STARK ST
Portland, OR 97233,13412 SE STARK ST
Portland, OR 97233,13412 SE STARK ST
Portland, OR 97233,13412 SE STARK ST
Portland, OR 97233,13412 SE STARK ST
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Listed by ELEETE Real Estate
Bought with MORE Realty

$677,000

$749,500

9.7%
Est.Price: ?

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Est. payment /mo

3,172 SqFt


SOLD DATE : 10/11/2024

Key Details

Sold Price $677,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 3,172 sqft

Price per Sqft $213

Subdivision David Douglas

MLS Listing ID 24152671

Sold Date 10/11/24

Year Built 2006

Annual Tax Amount $8,324

Tax Year 2023

Lot Size 0.290 Acres

Property Description

Presenting a premier multi-family investment opportunity in SE Portland that perfectly balances sophistication and potential, with a cap rate above 5%. This expansive triplex features 8 bedrooms and 6 bathrooms across 3,172 sq ft of living space. Each unit is equipped with modern amenities, providing the comfort and convenience tenants seek, ensuring high satisfaction, and keeping vacancy rates remarkably low. Recent updates throughout the property have reduced maintenance needs, allowing you to enjoy the benefits of a reliable and consistent cash flow with minimal oversight. The inclusion of an 8-car parking lot further enhances the property's appeal, offering convenience that residents will appreciate.What truly sets this property apart is its zoning, which allows for the construction of additional housing units. This opens the door to significant income growth, making this investment even more enticing. The potential to expand and increase revenue is a rare opportunity in today’s market.Located just minutes from a vibrant array of dining options, bars, and entertainment venues, this property is in a prime location that tenants will love. It’s also ideally situated on a bus line, with easy freeway access, and only 15 minutes from downtown Portland. Nearby hospitals and major employment centers add to its desirability, ensuring strong and steady tenant demand.Investors will quickly recognize the exceptional value this property offers. However, we advise all buyers to conduct their own due diligence regarding zoning to fully capitalize on the available opportunities. With a strong rental income already in place, room for growth, and a cap rate above 5%, this property is a standout choice for investors seeking both stability and potential.

Location

State OR

County Multnomah

Area _143

Zoning R3

Rooms

Basement Crawl Space

Interior

Heating Wall Heater

Cooling Wall Unit

Exterior

Roof Type Composition

Parking Type Driveway, Paved

Garage No

Building

Lot Description Level, On Busline, Private

Story 2

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public Water

Level or Stories 2

Schools

Elementary Schools Menlo Park

Middle Schools Floyd Light

High Schools David Douglas

Others

Acceptable Financing Cash, Conventional, FHA, VALoan

Listing Terms Cash, Conventional, FHA, VALoan

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