Nearby Schools
BuckmanElementary School
HosfordMiddle School
ClevelandHigh School
Description
Charming fully restored 1908 6-unit building situated in Buckman neighborhood between popular Belmont and Hawthorne shops and restaurants. Walkers paradise: 96 & Bikers paradise: 97. In 2018 this studs out remodel included electrical wiring/panels, water lines, water heaters, doors, new kitchens & bathrooms, interior/exterior paint, fixtures and common area washer/dryer room. 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 $7,350 per month + 2022 Utility reimbursements of ~$268 per month. In place Effective Gross Income (EGI) of ~$90,193. Stabilized expense load of ~36% provides an Net Operating income of ~$57,629 (5.01% CAP).
Location
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Attribution contact: 503-222-0282
Listing Agent: Cory Carlson
Listing Office: Constant Commercial Real Estate Inc
