MLS# 23575722 – 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: Pending

Year Built: 1966

Days on Website: 411

Price improvement! Opportunity for a lucrative investment property on a RM2 lot with development potential. Please see developers packet attached. Main unit has been well maintained, and features quality finishes: fireplace, jetted tub, W&D within the unit, deck off the sunroom, and a climate controlled 2 car garage. Excellent location close to shops, restaurants, Trader Joes, & bus lines. 2 new roofs in 2022. On-site laundry facilities with washer and dryer. Siding replacement completed. Please do not disturb tenants.

Property Details and Features

Property Access

Road Surface Type:

Paved

Building

Built in 1966

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4,UnitTypeType5,UnitTypeType6

Community

Community Features:

Commons

Expenses

Operating Expense Scheduled:

22640

Operating Expense:

$22,640

Exterior Features

Exterior Description:

LapSiding

Heating

Heating Available

Heating:

ForcedAir

Income

CAP Rate:

5.32

Gross Income:

$85,020

Gross Rent Multiplier:

16.41

Gross Scheduled Income:

$97,020

Net Operating Income:

$74,197

Net Scheduled Income:

88057

Listing

Contract Status Change Date:

2024-12-13

Cumulative Days On Market:

403

Days On Market:

403

Last Transaction Date:

2024-12-18 15:20:17

List Price:

$1,395,000

Listing Contract Date:

2023-11-06

Listing Id:

23575722

Mls Status:

Pending

Modification Timestamp:

2024-12-18 15:20:17

Off Market Date:

2024-12-13

On Market Date:

2023-11-06

Previous List Price:

$1,499,900

Purchase Contract Date:

2024-12-13

Rent Includes:

Sewer,TrashCollection,Water

Standard Status:

Pending

Location

MLS Area Major:

_142

County Or Parish:

Multnomah

Lot

Features:

Commons,Level,Private

Size Range:

SqFt10000to14999

Size:

10,000 to 14,999 SqFt

Miscellaneous

Investor Information:

Leases,ProfitLossStatement,RentRecords,UtilityRecordsAvailable

Parking

Features:

Garage,Paved

Property

Number Of Units Total:

Property Condition:

UpdatedRemodeled

Property View

Zoning:

RM2

Roof

Roof:

Composition

Schools

High School:

Franklin

Middle Or Junior School:

Harrison Park

Elementary School:

Vestal

Security Features

Features:

SecurityLights,Sidewalk

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$14,100

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$765

Units Total:

1 total bathroom

1 total bedroom

Unit Two

Actual Rent:

$825

Units Total:

1 total bathroom

1 total bedroom

Unit Three

Actual Rent:

$840

Units Total:

1 total bathroom

2 total bedroom

Unit Four

Actual Rent:

$1,100

Units Total:

1 total bathroom

1 total bedroom

Unit Five

Actual Rent:

$1,300

Units Total:

1 total bathroom

2 total bedroom

Unit Six

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

$1,395,000 -

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 December 20, 2024 11:49PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.