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4620 NE Portland Hwy

Portland, OR 97218
  • $875,000
  • STATUS: Active
  • ON SITE: 97 Days
  • MLS #: 22348134
UPDATED: 196 min ago
$875,000
  • 6
    BEDS
  • N/A
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
  • 4,004
    SQFT
  • $219
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1974
County:

School Information

Elementary School:
Middle School:
High School:

Description

Well maintained 5 plex with all 2 bed 1 bath units with W/D hookups, private backyards, & off-street parking. Majority of units have been remodeled. New roof on the Duplex in 2018. Mix of 3 single level units and 2 townhomes. 100% occupied with strong operating history/collections. Actual 5.65% CAP on current income, ample room to raise rents and achieve a 6.6% CAP. Tenants pay electric, opportunity to bill back water/sewer/garbage.

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Listing content is copyright © 2022 RMLS™, Portland, Oregon. The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS™ of Portland, Oregon. Real estate listings held by brokerage firms other than Next Home Realty Connection are marked with the RMLS™ logo, and detailed information about these properties includes the names of the listing brokers. Data last updated 2022-05-17T23:39:50.837.Data deemed reliable but not guaranteed. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information provided is deemed reliable but is not guaranteed accurate by RMLS™ or Next Home Realty Connection and should be independently verified.
www.nexthomepdx.com/homes/125547659
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4620 NE Portland Hwy Portland, OR 97218

  • Price: $875,000
  • Status: Active
  • On Site: 97 Days
  • Updated: 196 min ago
  • MLS #: 22348134
6
Beds
3
Baths
0
½ Baths
N/A
Acres
4,004
SQFT
$219
$/SQFT
1974
Built
Neighborhood:
Cully
County:
Multnomah
Area:
142-Portland Northeast
Elementary School:
Rigler
Middle School:
Beaumont
High School:
Leodis Mcdaniel
Property Description
Well maintained 5 plex with all 2 bed 1 bath units with W/D hookups, private backyards, & off-street parking. Majority of units have been remodeled. New roof on the Duplex in 2018. Mix of 3 single level units and 2 townhomes. 100% occupied with strong operating history/collections. Actual 5.65% CAP on current income, ample room to raise rents and achieve a 6.6% CAP. Tenants pay electric, opportunity to bill back water/sewer/garbage.
Exterior Features

Exterior Description Board & Batten SidingWood Composite Lot Size 10000 To 14999 Sqft Parking Features Assigned Roof Type Composition View YN No Water Description Public Water

Interior Features

Basement Crawl SpaceNone Heating Description Wall Furnace Hot Water Description Electricity Unit Features MicrowaveRangeRefrigeratorWasher/Dryer HookupWasher/Dryer Unit Type1 Features MicrowaveRangeRefrigerator Unit Type1 Sq Ft 780 Unit Type2 Features MicrowaveRangeRefrigeratorWasher/Dryer Hookup Unit Type2 Sq Ft 780 Unit Type3 Features MicrowaveRangeRefrigeratorWasher/Dryer Unit Type3 Sq Ft 832

Property Features

Bank Owned YN No Capitalization Rate 5.65 Country Us Fuel Description Electricity Gross Income Actual 73192 Gross Income Projected 81320 Gross Rent Multiplier 11.95 Net Income Actual 49433 Net Income Projected 56508 Occupancy Types LeasedMonth To Month Operating Expenses Actual 23758 Operating Expenses Projected 24812 Property Condition Existing Rent Includes Trash CollectionSewerWater Sewer Description Public Sewer Short Sale YN No Storage Garage(S) Tax Amount 6580.93 Third Party Approval YN No Unit Type1 Rent 1318 Unit Type1 Units Total 2 Unit Type2 Rent 1427 Unit Type2 Units Total 1 Unit Type3 Rent 1115 Unit Type3 Units Total 2 Zoning Rm1

Listing provided courtesy of Flat Fee Realty, Llc.


Listing content is copyright © 2022 RMLS™, Portland, Oregon. The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS™ of Portland, Oregon. Real estate listings held by brokerage firms other than Next Home Realty Connection are marked with the RMLS™ logo, and detailed information about these properties includes the names of the listing brokers. Data last updated 2022-05-17T23:39:50.837.Data deemed reliable but not guaranteed. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information provided is deemed reliable but is not guaranteed accurate by RMLS™ or Next Home Realty Connection and should be independently verified.
 
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