MLS# 141775361 – 350 Ne 61st Ave, Portland, OR 97213 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Check Point Realty.

Property Description

Description

6 Units

Status: Active

Year Built: 1966

Days on Website: 24

Unique income property in bustling central location! Close proximity to Trader Joe's, freeway access, and local businesses! Main unit features excellent amenities such as jetted tub, fireplace, sunroom, private side yard and large 2 car climate controlled garage! Previously rented at $2100/mo. Leases are m2m, w excellent rental history. Many recent capital improvements including 2 new roofs, siding replacement, and misc repairs. 350 bldg has been inspected, roof certified and repairs made. 2 former tax lots for a combined total of 12,589sqft. Developer's package attached.

Property Details and Features

Building

Built in 1966

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4,UnitTypeType5,UnitTypeType6

Expenses

Operating Expense:

$44,225

Exterior Features

Exterior Description:

LapSiding

Heating

Heating Available

Heating:

ForcedAir

Income

CAP Rate:

2.79

Gross Income:

$61,620

Gross Rent Multiplier:

22.56

Gross Scheduled Income:

$86,820

Net Operating Income:

$38,740

Listing

Contract Status Change Date:

2025-02-01

Days On Market:

Last Transaction Date:

2025-02-07 15:27:07

List Price:

$1,390,000

Listing Contract Date:

2025-02-01

Listing Id:

141775361

Mls Status:

Active

Modification Timestamp:

2025-02-07 15:27:07

On Market Date:

2025-02-01

Rent Includes:

Sewer,TrashCollection,Water

Standard Status:

Active

Location

MLS Area Major:

_142

County Or Parish:

Multnomah

Lot

Features:

Commons,Level,Private

Size Acres:

0.29

Size Range:

SqFt10000to14999

Size Square Feet:

12,632

Size:

10,000 to 14,999 SqFt

Miscellaneous

Investor Information:

ProfitLossStatement

Property

Number Of Units Total:

Property View

Zoning:

RM2

Schools

High School:

Franklin

Middle Or Junior School:

Harrison Park

Elementary School:

Vestal

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$14,664

Legal Description

Tax Year:

2024

Unit One

Actual Rent:

$800

Area:

375

Units Total:

1 total bathroom

1 total bedroom

Unit Two

Actual Rent:

$865

Area:

725

Units Total:

1 total bathroom

1 total bedroom

Unit Three

Actual Rent:

$1,200

Area:

675

Units Total:

1 total bathroom

1 total bedroom

Unit Four

Actual Rent:

$920

Area:

816

Units Total:

1 total bathroom

2 total bedroom

Unit Five

Actual Rent:

$1,350

Area:

816

Units Total:

1 total bathroom

2 total bedroom

Unit Six

Area:

1456

Features:

Deck,Fireplace,HardwoodFloors,WasherDryer

Units Total:

1 total bathroom

2 total bedroom

Utilities

Fuel Description:

Gas

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$1,390,000 -

350 Ne 61st Ave Portland , OR 97213

MLS Area Major: _142

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on February 25, 2025 11:43AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.