MLS# 24200635 – 11401 Se Powell Blvd, Portland, OR 97266 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Bridge Creek Realty.

Property Description

Description

10 Units

Status: Active

Year Built: 1973

Days on Website: 29

Powell Flats is a 10-unit, garden-style apartment complex in Portland’s Powellhurst-Gilbert area. Built in 1973, it offers two-bedroom, two-bath units with an average rent of $1,470. Four of the units are vacant, creating immediate value-add potential. Investors can increase rental income by upgrading units and aligning rents with the market rate of $1,500, making it a strong investment opportunity in a growing submarket.

Property Details and Features

Building

Building Area Total:

8292

Built in 1973

Stories:

Unit Type Type:

UnitTypeType1

Community

Community Features:

Laundry

Expenses

Operating Expense Scheduled:

622944

Operating Expense:

$55,909

Exterior Features

Exterior Description:

WoodSiding

Heating

Heating Available

Heating:

Baseboard

Income

CAP Rate:

3.44

Gross Income:

$105,840

Gross Rent Multiplier:

13.7

Gross Scheduled Income:

$185,400

Net Operating Income:

$49,931

Net Scheduled Income:

122186

Listing

Contract Status Change Date:

2024-10-18

Days On Market:

Last Transaction Date:

2024-10-22 15:34:27

List Price:

$1,450,000

Listing Contract Date:

2024-10-18

Listing Id:

24200635

Mls Status:

Active

Modification Timestamp:

2024-10-22 15:34:28

On Market Date:

2024-10-18

Rent Includes:

MaintenanceGrounds,Sewer,TrashCollection,Water

Standard Status:

Active

Location

MLS Area Major:

_143

County Or Parish:

Multnomah

Lot

Size Acres:

0.75

Size Range:

SqFt20000toAcres1

Size Square Feet:

32,670

Size:

20,000 SqFt to .99 Acres

Parking

14 total parking spots

Property

Number Of Units Total:

Property Condition:

Existing

Zoning:

Schools

High School:

David Douglas

Middle Or Junior School:

Ron Russell

Elementary School:

W Powellhurst

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$15,238

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$1,470

Area:

830

Features:

Range,Refrigerator

Units Total:

2 total bathrooms

2 total bedroom

Utilities

Fuel Description:

Electricity

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$1,450,000 -

11401 Se Powell Blvd Portland , OR 97266

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.