MLS# 24237499 – 6061 Ne Simpson St, Portland, OR 97218 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of eXp Realty, LLC.

Property Description

Description

8 Units

Status: Active

Year Built: 2024

Days on Website: 68

A newly constructed property in the Cully neighborhood, boasting a contemporary design aesthetic, is fully rented out and presents a fantastic investment opportunity. This turnkey property offers the added advantage of a completed condo plat, allowing the new owner to finalize and file the necessary documents to convert the units into individual condos at any time, providing flexibility and potential for increased returns.

Property Details and Features

Property Access

Road Surface Type:

Paved

Building

Building Area Total:

7065

Built in 2024

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4

Cooling

Cooling Equipped

Cooling:

MiniSplit

Expenses

Operating Expense:

$10,960

Exterior Features

Exterior Description:

CementSiding

Heating

Heating Available

Heating:

MiniSplit

Income

CAP Rate:

6.86

Gross Income:

$218,040

Gross Rent Multiplier:

12.84

Net Operating Income:

$192,080

Listing

Contract Status Change Date:

2024-06-25

Days On Market:

Last Transaction Date:

2024-07-10 15:43:40

List Price:

$2,800,000

Listing Contract Date:

2024-06-25

Listing Id:

24237499

Mls Status:

Active

Modification Timestamp:

2024-09-07 01:06:57

On Market Date:

2024-06-25

Previous List Price:

$2,900,000

Rent Includes:

Sewer,TrashCollection,Water

Standard Status:

Active

Location

MLS Area Major:

_142

County Or Parish:

Multnomah

Lot

Features:

Level

Size Acres:

0.24

Size Range:

SqFt10000to14999

Size Square Feet:

10,454

Size:

10,000 to 14,999 SqFt

Miscellaneous

Investor Information:

AccordingToOwner

Parking

Features:

Paved

Property

Number Of Units Total:

Property Condition:

NewConstruction

Zoning:

RM1

Roof

Roof:

Composition

Schools

High School:

Leodis McDaniel

Middle Or Junior School:

Beaumont

Elementary School:

Rigler

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$15,000

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$1,900

Area:

583

Features:

Dishwasher,HardwoodFloors,Refrigerator,WasherDryer

Units Total:

1 total bathroom

1 total bedroom

Unit Two

Actual Rent:

$1,800

Area:

508

Features:

Dishwasher,HardwoodFloors,Refrigerator,WasherDryer

Units Total:

1 total bathroom

1 total bedroom

Unit Three

Actual Rent:

$2,300

Area:

1104

Features:

Dishwasher,HardwoodFloors,Refrigerator,WasherDryer

Units Total:

3 total bathrooms

2 total bedroom

Unit Four

Actual Rent:

$2,100

Area:

771

Features:

Dishwasher,HardwoodFloors,Refrigerator,WasherDryer

Units Total:

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

$2,800,000 -

6061 Ne Simpson St Portland , OR 97218

MLS Area Major: _142

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on September 7, 2024 1:51PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.