MLS# 24090840 – 800 Ne 4th St, Gresham, OR 97030 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Windermere Realty Trust.

Property Description

Description

10 Units

Status: Pending

Year Built: 1969

Neighborhood: Downtown Gresham

Days on Website: 69

Welcome to the Cleveland Colonial Apartments. This is a 10-unit community conveniently located just a 1/2 mile from historic downtown Gresham. The building has a great unit mix of eight 3 bedroom/1 bath, 1000+ square foot units and two 2 bedroom/1 bath, 800+ square foot units. All units have been upgraded to include but are not limited to engineered hardwood floors, newer windows, kitchens with newer appliances and countertops, newer fixtures, and in-unit washers and dryers. All units uniquely have their own private backyards, and parking right in front of the units as well as plenty of additional off-street parking. The units have quite a few longer term tenants as a result of their amenities, the size of the units, and the location. This location is a walker’s paradise and many daily errands do not require a car. The property has a 91 walk score. This building is roughly a 7-minute walk from the Blue MAX Line. All units are currently occupied with a mix of both long term and newer tenants. The basement could be rented out as additional storage for increased income. Offers are to be written contingent on interior inspections.

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

FullBasement,Unfinished

Building

Building Area Total:

10160

Built in 1969

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType10,UnitTypeType2,UnitTypeType3,UnitTypeType4,UnitTypeType5,UnitTypeType6,UnitTypeType7,UnitTypeType8,UnitTypeType9

Expenses

Operating Expense Scheduled:

39583

Operating Expense:

$39,583

Exterior Features

Exterior Description:

Brick

Heating

Heating Available

Heating:

Baseboard

Income

CAP Rate:

7.76

Gross Income:

$210,193

Gross Rent Multiplier:

10.47

Gross Scheduled Income:

$220,191

Net Operating Income:

$170,610

Net Scheduled Income:

180608

Listing

Contract Status Change Date:

2024-09-17

Cumulative Days On Market:

Days On Market:

Last Transaction Date:

2024-10-23 16:12:02

List Price:

$2,199,900

Listing Contract Date:

2024-09-11

Listing Id:

24090840

Mls Status:

Pending

Modification Timestamp:

2024-11-13 11:07:16

Off Market Date:

2024-09-17

On Market Date:

2024-09-11

Purchase Contract Date:

2024-09-17

Rent Includes:

None

Standard Status:

Pending

Location

MLS Area Major:

_144

Subdivision Name:

DOWNTOWN GRESHAM

County Or Parish:

Multnomah

Lot

Features:

Level

Size Acres:

0.64

Size Range:

SqFt20000toAcres1

Size Square Feet:

27,878

Size:

20,000 SqFt to .99 Acres

Miscellaneous

Investor Information:

Leases

Parking

Features:

Assigned

10 total parking spots

Possession

Possession:

SubjectToTenantRights

Property

Number Of Units Total:

Property Condition:

UpdatedRemodeled

Zoning:

DRL-2

Roof

Roof:

Composition

Schools

High School:

Gresham

Middle Or Junior School:

Dexter McCarty

Elementary School:

East Gresham

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$14,846

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$1,831

Area:

1000

Features:

Range,Refrigerator,WasherDryer,WindowCoverings

Units Total:

1 total bathroom

3 total bedroom

Unit Two

Actual Rent:

$1,745

Area:

1000

Features:

Range,Refrigerator,WasherDryer,WindowCoverings

Units Total:

1 total bathroom

3 total bedroom

Unit Three

Actual Rent:

$1,663

Area:

1000

Features:

Range,Refrigerator,WasherDryer,WindowCoverings

Units Total:

1 total bathroom

3 total bedroom

Unit Four

Actual Rent:

$1,807

Area:

1000

Features:

Range,Refrigerator,WasherDryer,WindowCoverings

Units Total:

1 total bathroom

3 total bedroom

Unit Five

Actual Rent:

$1,882

Area:

1000

Features:

Range,Refrigerator,WasherDryer,WindowCoverings

Units Total:

1 total bathroom

3 total bedroom

Unit Six

Actual Rent:

$1,695

Area:

1000

Features:

Range,Refrigerator,WasherDryer,WindowCoverings

Units Total:

1 total bathroom

3 total bedroom

Unit Seven

Actual Rent:

$1,895

Area:

1000

Features:

Range,Refrigerator,WasherDryer,WindowCoverings

Units Total:

1 total bathroom

3 total bedroom

Unit Eight

Actual Rent:

$1,844

Area:

1000

Features:

Range,Refrigerator,WasherDryer,WindowCoverings

Units Total:

1 total bathroom

3 total bedroom

Unit Nine

Actual Rent:

$1,516

Area:

800

Features:

Range,Refrigerator,WasherDryer,WindowCoverings

Units Total:

1 total bathroom

2 total bedroom

Unit Ten

Actual Rent:

$1,595

Area:

800

Features:

Range,Refrigerator,WasherDryer,WindowCoverings

1 total bathroom

2 total bedroom

Utilities

Fuel Description:

Electricity

Hot Water Description:

Electricity

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$2,199,900 -

800 Ne 4th St Gresham , OR 97030

MLS Area Major: _144

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.