Charming fully restored 6-unit building situated in Buckman neighborhood between popular Belmont and Hawthorne shops and restaurants. Walkers paradise: 96 & Bikers paradise: 97. 2018 studs out remodel included electrical wiring/panels, water lines, water heaters, doors, bathrooms, common area, washer/dryer/storage room and kitchens with new cabinets, quartz countertops and stainless appliances. New roof in 2020 and common area windows in 2021. Unit mix is comprised of three (3) 1 bed / 1 bath units, one (1) 2 bed / 1 bath unit and two studios upstairs sharing one bath. Prime close-in investment opportunity to acquire a turn-key well performing asset in a strong Portland submarket. Subject property currently achieves gross monthly rents of $7,665 per month + 2023 utility reimbursements averaging ~$536 per month. Projected 2024 Effective Gross Income (EGI) of ~$96,553. Stabilized expense load of ~39% provides an Net Operating income of ~$58,712.
24185516
Other
Multnomah
1908
0.06
Acres
Cedar
Public Sewer
2,824
Sq. Ft.
6 Total
School Information
Buckman
Hosford
Cleveland
Interior Features
- Heating
- Other. None.
- Basement
- Finished
Exterior / Lot Features
- Exterior
- Cedar
- Roof
- Composition
- Zoning
- R2.5
- Structural Condition
- Updated/Remodeled
- Additional Exterior/Lot Features
- Level.
Financial Considerations
R176951
$11,527
Cash, Conventional
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