MLS# 24177213 – 11445 Sw Greenburg Rd, Portland, OR 97223 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of RealtyNET, LLC.

Property Description

Description

8 Units

Status: Pending

Year Built: 1967

Neighborhood: Greenburg

Days on Website: 261

The Greenburg Townhomes are located in the strong sub-market of Tigard, Oregon and are comprised of 8 large townhome style units. Each apartment features 2 bedrooms and 1.5 baths, spacious floor plans, off-street parking, and private back patios. Tenants benefit from a unique oversized lot of nearly half an acre, with ample green space and is located nearby.The property has operated at a historically low vacancy, which is in line with the latest average vacancy rate reported for the Tigard submarket 2BR townhome style units at 2.55% (Multi-Family NW, Fall 2023). This opportunity provides a new owner with a significant and realistic path to organically increase the revenue at lease renewals or turnovers (the average in place is approx. 10-15% below market). There is also a value-add component by implementing a RUBS system in the future, as there is not one currently in place.Excellent access to transportation, via 217, I-5, and 99W ? and along the path of progress as Tigard continues to make improvements in the surrounding areas. The property has been well maintained and provides a stable home for an investor, with a proven path to grow and get up to market rents.

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

CrawlSpace

Building

Building Area Total:

7272

Built in 1967

Stories:

Unit Type Type:

UnitTypeType1

Cooling

Cooling:

None

Expenses

Operating Expense Scheduled:

51467

Operating Expense:

$50,195

Exterior Features

Exterior Description:

Brick,CementSiding

Foundation

Foundation Details:

ConcretePerimeter

Heating

Heating Available

Heating:

Baseboard

Income

CAP Rate:

5.58

Gross Income:

$136,616

Gross Rent Multiplier:

11.35

Gross Scheduled Income:

$157,820

Net Operating Income:

$86,421

Net Scheduled Income:

106353

Listing

Contract Status Change Date:

2024-07-19

Cumulative Days On Market:

137

Days On Market:

137

Last Transaction Date:

2024-07-19 13:44:32

List Price:

$1,550,000

Listing Contract Date:

2024-03-04

Listing Id:

24177213

Mls Status:

Pending

Modification Timestamp:

2024-08-03 11:45:01

Off Market Date:

2024-07-19

On Market Date:

2024-03-04

Previous List Price:

$1,675,000

Purchase Contract Date:

2024-07-19

Rent Includes:

Sewer,TrashCollection,Water

Standard Status:

Pending

Location

MLS Area Major:

_151

Subdivision Name:

GREENBURG

County Or Parish:

Washington

Lot

Features:

Level,Secluded,Trees

Size Acres:

0.43

Size Range:

SqFt20000toAcres1

Size Square Feet:

18,730

Size:

20,000 SqFt to .99 Acres

Parking

Features:

Open

Possession

Possession:

CloseOfEscrow

Property

Number Of Units Total:

Property Condition:

Existing

Zoning:

Multi

Roof

Roof:

Shingle

Schools

High School:

Southridge

Middle Or Junior School:

Conestoga

Elementary School:

Metzger

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$12,113

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$1,468

Area:

909

Features:

Dishwasher,Disposal,Range,Refrigerator

Units Total:

2 total bathrooms

2 total bedroom

Utilities

Fuel Description:

Electricity

Hot Water Description:

Electricity

Internet Service Type:

Cable,DSL

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$1,550,000 -

11445 Sw Greenburg Rd Portland , OR 97223

MLS Area Major: _151

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.