MLS# 24309638 – 2456 Se Tamarack Ave, Portland, OR 97214 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Living Room Realty.

Property Description

Description

4 Units

Status: Pending

Year Built: 1902

Neighborhood: Ladds Addition

Days on Website: 69

Discover a rare opportunity to own a piece of history in the charming and walkable Ladd’s Addition neighborhood. This beautifully restored Carpenter Gothic-style church has been meticulously renovated into four unique living units. Offering a perfect blend of historic charm and modern convenience, this is the oldest structure in Ladd’s Addition and is listed on the National Register of Historic Places.Originally built in 1902 as the Mizpah Presbyterian Church and relocated to its current location in 1911, this iconic building features a prominent Basilican bell tower with the original 1888 bell. An addition at the east end was added to the main structure in 1924, and was used for classrooms and meeting rooms. The wood-frame structure showcases mid-1800s design elements, including a prominent entryway staircase, while incorporating modern upgrades that enhance its livability.With very low turnover and strong rental income, this property is an excellent investment. It has been professionally managed and maintained, ensuring peace of mind for the next discerning legacy owner.The recent multi-year renovation project preserved the church’s architectural integrity while integrating essential updates, such as:- Stained glass window restoration (2021-22)- Seismic upgrades for added safety (2016-17)- Exterior paint refresh (2023) & numerous individual unit enhancements. Notable historical features like the 20-foot pews repurposed into railings, staircases, and furniture, add unique character to the living spaces, making this property a true gem in Portland’s rich architectural history. Recorded in the front unit https://www.youtube.com/watch?v=HQyYJhzeDvU&feature=youtu.be

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

PartiallyFinished

Building

Building Area Total:

10264

Built in 1902

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4

Community

Community Features:

AllLandscaping,FrontYardLandscaping

Cooling

Cooling:

None

Expenses

Operating Expense Scheduled:

55129

Operating Expense:

$55,129

Exterior Features

Exterior Description:

WoodSiding

Foundation

Foundation Details:

ConcretePerimeter

Heating

Heating Available

Heating:

ForcedAir

Income

CAP Rate:

5.97

Gross Income:

$144,660

Gross Rent Multiplier:

10.37

Gross Scheduled Income:

$151,893

Net Operating Income:

$89,531

Net Scheduled Income:

96764

Listing

Contract Status Change Date:

2024-11-06

Cumulative Days On Market:

Days On Market:

Last Transaction Date:

2024-11-07 16:32:28

List Price:

$1,500,000

Listing Contract Date:

2024-09-12

Listing Id:

24309638

Mls Status:

Pending

Modification Timestamp:

2024-11-07 16:32:28

Off Market Date:

2024-11-06

On Market Date:

2024-09-12

Purchase Contract Date:

2024-11-06

Rent Includes:

MaintenanceGrounds,Sewer,TrashCollection,Water

Standard Status:

Pending

Location

MLS Area Major:

_143

Subdivision Name:

LADDS ADDITION

County Or Parish:

Multnomah

Lot

Size Acres:

0.24

Size Range:

SqFt10000to14999

Size Square Feet:

10,454

Size:

10,000 to 14,999 SqFt

Miscellaneous

Investor Information:

AnnualPropertyOperationData

Parking

Features:

OnStreet

Possession

Possession:

SubjectToTenantRights

Property

Number Of Units Total:

Property Condition:

Restored

Zoning:

Roof

Roof:

Composition

Schools

High School:

Cleveland

Middle Or Junior School:

Hosford

Elementary School:

Abernethy

Security Features

Features:

Sidewalk

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$20,432

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$3,520

Area:

3200

Features:

Dishwasher,Range,Refrigerator,WasherDryer

Units Total:

2 total bathrooms

4 total bedroom

Unit Two

Actual Rent:

$2,955

Area:

2000

Features:

Dishwasher,Range,Refrigerator,WasherDryer

Units Total:

2 total bathrooms

3 total bedroom

Unit Three

Actual Rent:

$2,755

Area:

2500

Features:

Dishwasher,Range,Refrigerator,WasherDryer

Units Total:

2 total bathrooms

3 total bedroom

Unit Four

Actual Rent:

$2,625

Area:

2250

Features:

Dishwasher,Range,Refrigerator,WasherDryer

Units Total:

2 total bathrooms

3 total bedroom

Utilities

Fuel Description:

Gas

Hot Water Description:

Gas

Water Source:

PublicWater

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$1,500,000 - Br/0Ba - for Sale in Ladds Addition, Portland

Virtual Tour

Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$1,500,000 -

2456 Se Tamarack Ave Portland , OR 97214

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.