MLS# 24056070 – 14937 Se Stark St, Portland, OR 97233 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of RE/MAX Equity Group.

Property Description

Description

16 Units

Status: Active

Year Built: 2005

Neighborhood: Glenfair

Days on Website: 161

Fully rented, with recent rent increases, and several long-term tenants. Four apartment buildings on a nearly 3/4 acre lot: A townhouse style 6-plex with 2 bedroom, 1.1 bath, 933 sq. ft. units, built in 2005; a townhouse style 4-plex, with 2 bedroom, 1.1 bath, 933 sq. ft. units, built 2001; a duplex with 2 bedroom, 1 bath, 900 sq. ft. units, built 2001; and a 4-plex with three 2 bedroom, 1 bath units & one 1 bedroom, 1 bath unit, built 1966. All units have their own full-size washer & dryer, except the original 4-plex has a shared laundry. All townhouse-style units feature 9' ceilings on the main level. Tenants pay own electricity bills. Gross sq. ft. is gross rentable area, and doesn't include a shared laundry area in one building. Most units are located well off of Stark St. in a quiet setting with 26 parking spaces. School bus stops at the driveway. Cap rate is 6.13 using projected net income.

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

CrawlSpace,PartialBasement,PartiallyFinished

Building

Building Area Total:

14080

Built in 2005

Storage:

IndividualStorageUnits

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4,UnitTypeType5,UnitTypeType6,UnitTypeType7,UnitTypeType8

Community

Community Features:

Laundry

Expenses

Operating Expense Scheduled:

81131

Operating Expense:

$79,541

Exterior Features

Exterior Description:

Brick,CementSiding,T111Siding

Foundation

Foundation Details:

ConcretePerimeter

Heating

Heating Available

Heating:

Radiant,Zoned

Income

CAP Rate:

5.18

Gross Income:

$214,156

Gross Rent Multiplier:

12.14

Gross Scheduled Income:

$240,540

Net Operating Income:

$134,615

Net Scheduled Income:

158389

Listing

Contract Status Change Date:

2024-06-12

Days On Market:

161

Last Transaction Date:

2024-11-20 11:32:51

List Price:

$2,600,000

Listing Contract Date:

2024-06-12

Listing Id:

24056070

Mls Status:

Active

Modification Timestamp:

2024-11-20 11:32:51

On Market Date:

2024-06-12

Rent Includes:

Sewer,TrashCollection,Water

Standard Status:

Active

Location

MLS Area Major:

_143

Subdivision Name:

GLENFAIR

County Or Parish:

Multnomah

Lot

Features:

Level

Size Acres:

0.73

Size Range:

SqFt20000toAcres1

Size Square Feet:

31,798

Size:

20,000 SqFt to .99 Acres

Miscellaneous

Investor Information:

AccordingToOwner,ProfitLossStatement

Parking

Features:

OffStreet,Paved

26 total parking spots

Possession

Possession:

SubjectToTenantRights

Property

Number Of Units Total:

Property Condition:

Approximately

Zoning:

RM3

Roof

Roof:

Composition

Schools

High School:

Reynolds

Middle Or Junior School:

H.B. Lee

Elementary School:

Glenfair

Security Features

Features:

SecuritySystemOwned

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$30,891

Legal Description

Tax Year:

2024

Unit One

Actual Rent:

$1,430

Area:

933

Features:

Dishwasher,Range,Refrigerator,WasherDryer

Units Total:

2 total bathrooms

2 total bedroom

Unit Two

Actual Rent:

$1,366

Area:

933

Features:

Dishwasher,Range,Refrigerator,WasherDryer

Units Total:

2 total bathrooms

2 total bedroom

Unit Three

Actual Rent:

$1,322

Area:

933

Features:

Dishwasher,Range,Refrigerator,WasherDryer

Units Total:

2 total bathrooms

2 total bedroom

Unit Four

Actual Rent:

$1,325

Area:

933

Features:

Dishwasher,Range,Refrigerator,WasherDryer

Units Total:

2 total bathrooms

2 total bedroom

Unit Five

Actual Rent:

$1,200

Area:

933

Features:

Dishwasher,Range,Refrigerator,WasherDryer

Units Total:

2 total bathrooms

2 total bedroom

Unit Six

Actual Rent:

$1,225

Area:

900

Features:

Dishwasher,Range,Refrigerator,WasherDryer

Units Total:

1 total bathroom

2 total bedroom

Unit Seven

Actual Rent:

$1,032

Area:

800

Features:

Dishwasher,Range,Refrigerator,WindowCoverings

Units Total:

1 total bathroom

2 total bedroom

Unit Eight

Actual Rent:

$995

Area:

500

Features:

Range,Refrigerator,WindowCoverings

Units Total:

1 total bathroom

1 total bedroom

Utilities

Fuel Description:

Electricity

Hot Water Description:

Electricity

Internet Service Type:

Cable

Water Source:

PublicWater

[+] Read More

Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$2,600,000 -

14937 Se Stark St Portland , OR 97233

MLS Area Major: _143

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on November 20, 2024 12:46PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.