Bought with John L. Scott
$1,995,000
$1,995,000
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8,616 SqFt
SOLD DATE : 09/06/2024
Key Details
Sold Price $1,995,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 8,616 sqft
Price per Sqft $231
Subdivision 5550-5564
MLS Listing ID 24467007
Sold Date 09/06/24
Year Built 1950
Annual Tax Amount $22,228
Tax Year 2023
Lot Size 0.450 Acres
Property Description
This updated 100% occupied 8 plex (built in 1986-87) comes with a 1800sf, 3-bedroom, 2-bath ranch house on a .45-acre lot. Grocery shopping and restaurants are just across the street & it's next to easy bus transportation. There is so much opportunity for increased rental income: a family member occupies the house so currently no rent has been collected there but could easily rent for $3,300 a month which would increase the Cap rate to over 6%. It features a full unfinished basement with full bath or another multi-plex could be built in place of the ranch house giving you many more units and income.
Location
State OR
County Multnomah
Community Laundry
Area _148
Zoning RM1
Rooms
Basement Full Basement
Interior
Heating Forced Air, Zoned
Exterior
Garage Spaces 2.0
Community Features Laundry
View Territorial
Roof Type Composition
Garage No
Building
Story 2
Foundation Slab
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Middle Schools Robert Gray
High Schools Ida B Wells
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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