Bought with Equity Pacific Real Estate LLC
$1,275,000
$1,300,000
1.9%For more information regarding the value of a property, please contact us for a free consultation.
5,200 SqFt
SOLD DATE : 11/09/2023
Key Details
Sold Price $1,275,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,200 sqft
Price per Sqft $245
Subdivision Oak Grove
MLS Listing ID 23620963
Sold Date 11/09/23
Year Built 1966
Annual Tax Amount $6,779
Tax Year 2022
Property Description
Discover a premier Oak Grove multifamily investment. This six-unit property has four units with two beds and one bathroom and two units with one bed and one bathroom. All units have been modernized in recent years and feature contemporary amenities. On-site laundry enhances convenience for tenants. The property consists of two buildings on a large lot and features newer roofs, vinyl windows, and wood siding. Each unit has a private, fenced backyard, and eleven parking spaces are available.Opportunity to increase AGI through billing back utility expenses currently covered by the landlord. Rents are currently 18.8% below the market rates, presenting an excellent opportunity to increase rental income. The property has been exceedingly well-maintained, ensuring its long-term stability and lowering its maintenance expenses.The property's proximity to coffee shops and restaurants makes it an attractive living environment for tenants. Its strategic location and desirable characteristics make it an attractive investment opportunity.
Location
State OR
County Clackamas
Area _145
Zoning MR1
Rooms
Basement Crawl Space
Interior
Heating Ceiling
Exterior
Garage Spaces 11.0
View Y/N false
Roof Type Composition
Garage No
Building
Lot Description Level
Story 1
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 1
Schools
Elementary Schools Oak Grove
Middle Schools Alder Creek
High Schools Putnam
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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