Bought with RE/MAX Equity Group
$1,350,000
$1,549,900
12.9%For more information regarding the value of a property, please contact us for a free consultation.
7,176 SqFt
SOLD DATE : 02/29/2024
Key Details
Sold Price $1,350,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 7,176 sqft
Price per Sqft $188
MLS Listing ID 23512443
Sold Date 02/29/24
Year Built 1965
Annual Tax Amount $12,595
Tax Year 2022
Property Description
Excellent investment opportunity in SE Portland garden-style complex. Up-and-coming area with many amenities nearby. 8 units (all 2bd 1 bth) plus detached, oversized garage formally rented separately. North building recently rebuilt - 4 units completely renovated, new kitchens with quartz countertops, stainless appliances and hardwood cabinetry, new bathrooms + hardwood floors. New roof, new electrical and new plumbing. Renovation fully permitted. Onsite laundry room and private storage cages for all units and private back patios. Paved parking in front for up to 10 vehicles plus gravel area in rear accessible from adjacent street. Large .55 acre lot offers potential to develop more units (buyer to verify). Note: actual income is low due to vacancy during construction, projected rent based on current income and market rate for the one vacant unit and vacant garage. A compelling blend of stability with upside.
Location
State OR
County Multnomah
Community Laundry
Area _143
Zoning RM1
Rooms
Basement Crawl Space
Interior
Heating Baseboard
Exterior
Community Features Laundry
Roof Type Composition
Parking Type Detached, Paved
Garage No
Building
Lot Description On Busline
Sewer Public Sewer
Water Public Water
Schools
Elementary Schools Woodmere
Middle Schools Lane
High Schools Franklin
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Principal Broker | Lic# 910900068