MLS# 24216868 – 925 4th Ave, Seaside, OR 97138 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Soldera Properties, Inc.

Property Description

Description

4 Units

Status: Active

Year Built: 1941

Days on Website: 74

Great Investment Opportunity in Seaside! This 1941 4 plex has recent updates and so many opportunities for income. Rentable spaces at market rate could generate over $90k annual gross income and a cap rate approaching 10%. Spacious grounds provide adequate parking that can be accessed from 4th avenue as well as a rear alleyway. 3 of the 4 units are 2 bed, one bath, with the 4th being a 1 bed, one bath. A fifth 2 bed, one bath, economy kitchenette could be incorporated into one of the upstairs units. The building and property are clean and easy to maintain.

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

DirtFloor,ExteriorEntry,StorageSpace

Building

Building Area Total:

3453

Built in 1941

Storage:

Basement,Garage

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4

Expenses

Operating Expense Scheduled:

30000

Operating Expense:

$21,436

Exterior Features

Exterior Description:

VinylSiding

Foundation

Foundation Details:

ConcretePerimeter

Garage

Garage Spaces:

Heating

Heating Available

Heating:

HotWater,WallHeater

Income

CAP Rate:

7.06

Gross Income:

$70,800

Gross Rent Multiplier:

9.87

Gross Scheduled Income:

$92,400

Net Operating Income:

$49,364

Net Scheduled Income:

77384

Listing

Contract Status Change Date:

2024-09-09

Days On Market:

Last Transaction Date:

2024-09-09 13:28:41

List Price:

$699,000

Listing Contract Date:

2024-09-09

Listing Id:

24216868

Mls Status:

Active

Modification Timestamp:

2024-09-09 13:28:42

On Market Date:

2024-09-09

Rent Includes:

Gas,Heat,MaintenanceGrounds,Sewer,TrashCollection,Water

Standard Status:

Active

Location

MLS Area Major:

_185

County Or Parish:

Clatsop

Lot

Features:

Level

Size Acres:

0.23

Size Range:

SqFt10000to14999

Size Square Feet:

10,018

Size:

10,000 to 14,999 SqFt

Miscellaneous

Investor Information:

AccordingToOwner,Incomplete,Leases

Parking

Features:

OffSite,OffStreet

Possession

Possession:

CloseOfEscrow

Property

Number Of Units Total:

Zoning:

Roof

Roof:

Composition

Schools

High School:

Seaside

Middle Or Junior School:

Seaside

Elementary School:

Pacific Ridge

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$4,875

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$1,100

Area:

800

Units Total:

1 total bathroom

2 total bedroom

Unit Two

Actual Rent:

$1,200

Area:

600

Units Total:

1 total bathroom

1 total bedroom

Unit Three

Actual Rent:

$1,500

Area:

700

Units Total:

1 total bathroom

2 total bedroom

Unit Four

Actual Rent:

$2,100

Area:

700

Units Total:

2 total bathrooms

4 total bedroom

Utilities

Fuel Description:

Electricity,Gas

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$699,000 -

925 4th Ave Seaside , OR 97138

MLS Area Major: _185

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on November 22, 2024 12:47PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.