MLS# 24019190 – 271 Clay St E, Monmouth, OR 97361 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Property Description

Description

6 Units

Status: Active

Year Built: 1963

Days on Website: 197

Exciting investment opportunity! Updated 6-plex in the heart of Monmouth, less than a mile from WOU. Originally designed w/ 5 units, but its value has recently enhanced with addition of a 6th unit, completed in 3/2023. 5 units feature 2 beds/1 bath. 6th unit, with modern finishes offers 1 bed/1 bath. Professionally managed since 2022, this complex is maintained & overseen with great care. NEW ROOF!

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

None

Building

Building Area Total:

4416

Built in 1963

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4,UnitTypeType5,UnitTypeType6

Expenses

Operating Expense:

$11,445

Exterior Features

Exterior Description:

T111Siding,WoodSiding

Foundation

Foundation Details:

ConcretePerimeter

Heating

Heating Available

Heating:

Zoned

Income

CAP Rate:

6.9

Gross Income:

$80,400

Gross Rent Multiplier:

12.44

Net Operating Income:

$68,955

Listing

Contract Status Change Date:

2024-05-09

Days On Market:

196

Last Transaction Date:

2024-10-22 10:32:56

List Price:

$999,998

Listing Contract Date:

2024-05-09

Listing Id:

24019190

Mls Status:

Active

Modification Timestamp:

2024-10-22 10:32:56

On Market Date:

2024-05-09

Previous List Price:

$1,052,000

Rent Includes:

MaintenanceGrounds,Sewer,TrashCollection,Water

Standard Status:

Active

Location

MLS Area Major:

_167

County Or Parish:

Polk

Lot

Features:

Level

Size Acres:

0.3

Size Range:

SqFt10000to14999

Size Square Feet:

13,068

Size:

10,000 to 14,999 SqFt

Miscellaneous

Investor Information:

AccordingToOwner

Parking

Features:

OffStreet

Possession

Possession:

CloseOfEscrow

Property

Number Of Units Total:

Property Condition:

Existing

Zoning:

Roof

Roof:

Membrane

Schools

High School:

Central

Middle Or Junior School:

Talmadge

Elementary School:

Monmouth

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$5,831

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$1,075

Area:

770

Features:

Range,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Unit Two

Actual Rent:

$1,195

Area:

770

Features:

Range,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Unit Three

Actual Rent:

$1,075

Area:

770

Features:

Range,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Unit Four

Actual Rent:

$1,115

Area:

770

Features:

Range,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Unit Five

Actual Rent:

$1,150

Area:

770

Features:

Range,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Unit Six

Actual Rent:

$1,150

Area:

500

Features:

Range,Refrigerator

Units Total:

1 total bathroom

1 total bedroom

Utilities

Fuel Description:

Electricity

Hot Water Description:

Electricity

Water Source:

PublicWater

[+] Read More

271 Clay St E Monmouth , OR 97361

Property Description

Description

Open House

Open House

Property Details and Features

Property Details and Features

Contact an Agent

John Wesley McPherson, Jr., CFA

Location

Street View

Nearby Schools

Recent Sales in the Area

Similar Properties Nearby