MLS# 24164065 – 5840 Se 89th Ave, Portland, OR 97266 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Legacy Realty Group.

Property Description

Description

11 Units

Status: Active

Year Built: 2023

Neighborhood: Lents

Days on Website: 210

New 11 unit apartment building in the Lents District which offers a vibrant community with amenities like FlipSide Bar and Carts, the Farmers Market, Lents Park, and easy transportation making it an attractive location for tenants. The fact that the building is professionally managed and fully leased adds to its appeal, as does the availability of plenty of street parking and outdoor amenities. Having full income and expense reports available for a Buyer makes it transparent and easier to assess the investment's potential. Overall, a plug-and-play investment opportunity in a promising location.

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

None

Building

Building Area Total:

5369

Built in 2023

Storage:

None

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4

Community

Community Features:

Commons

Cooling

Cooling Equipped

Cooling:

HeatPump,WallUnit

Expenses

Operating Expense Scheduled:

104628

Operating Expense:

$9,622

Exterior Features

Exterior Description:

BoardBattenSiding,VinylSiding

Foundation

Foundation Details:

ConcretePerimeter,Slab

Heating

Heating Available

Heating:

HeatPump

Income

CAP Rate:

1.58

Gross Income:

$40,477

Gross Rent Multiplier:

48.15

Gross Scheduled Income:

$145,380

Net Operating Income:

$30,855

Net Scheduled Income:

40752

Listing

Contract Status Change Date:

2024-05-24

Days On Market:

210

Last Transaction Date:

2024-05-24 19:08:18

List Price:

$1,948,800

Listing Contract Date:

2024-05-24

Listing Id:

24164065

Mls Status:

Active

Modification Timestamp:

2024-08-04 12:15:00

On Market Date:

2024-05-24

Rent Includes:

MaintenanceGrounds

Standard Status:

Active

Location

MLS Area Major:

_143

Subdivision Name:

LENTS

County Or Parish:

Multnomah

Lot

Features:

Level

Size Acres:

0.07

Size Dimensions:

50x 60

Size Range:

SqFt3000to4999

Size Square Feet:

3,049

Size:

3,000 to 4,999 SqFt

Miscellaneous

Investor Information:

ProfitLossStatement,RentRecords

Parking

Features:

OnStreet

Possession

Possession:

Negotiable

Property

Number Of Units Total:

Property Condition:

Existing

Zoning:

CM2d

Roof

Roof:

Composition

Schools

High School:

Franklin

Middle Or Junior School:

Lane

Elementary School:

Kelly

Security Features

Features:

Entry,FireSprinklerSystem

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$2,143

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$1,095

Area:

364

Features:

AirConditioning,Range,Refrigerator,WasherDryer

Units Total:

1 total bathroom

Unit Two

Actual Rent:

$1,195

Area:

448

Features:

AirConditioning,Range,Refrigerator,WasherDryer

Units Total:

1 total bathroom

Unit Three

Actual Rent:

$1,050

Area:

333

Features:

AirConditioning,Range,Refrigerator,WasherDryer

Units Total:

1 total bathroom

Unit Four

Actual Rent:

$1,150

Area:

371

Features:

AirConditioning,Range,Refrigerator,WasherDryer

Units Total:

1 total bathroom

Utilities

Fuel Description:

Electricity

Hot Water Description:

Gas

Internet Service Type:

Cable

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$1,948,800 -

5840 Se 89th Ave Portland , OR 97266

MLS Area Major: _143

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.