MLS# 24340236 – 2233 Nw Flanders St, Portland, OR 97210 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Apex Residential.

Property Description

Description

11 Units

Status: Active

Year Built: 1890

Neighborhood: Northwest District

Days on Website: 37

Rare opportunity to acquire a value add 11 unit multifamily in one of the most sought after neighborhood in all of Portland. The property consists of two buildings and 11 units. The wood framed brick building is 6 units, all one bedrooms. The Victorian is 3 levels and 5 units, high ceilings with recent upgrades including electrical. The property is in receivership, please see offer instructions. All numbers are based on proforma and in line with market rates. Not all leases on the property have been verified and is under new property management. There is an incredible amount of upside on this asset.

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

FullBasement

Building

Building Area Total:

3458

Built in 1890

Storage:

Basement

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3

Community

Community Features:

AllLandscaping,Laundry

Cooling

Cooling:

Other

Expenses

Operating Expense:

$96,908

Exterior Features

Exterior Description:

Brick,WoodSiding

Foundation

Foundation Details:

Block,ConcretePerimeter,Slab

Heating

Heating Available

Heating:

MiniSplit

Income

CAP Rate:

6.67

Gross Income:

$256,960

Gross Rent Multiplier:

9.34

Net Operating Income:

$160,052

Listing

Contract Status Change Date:

2024-11-06

Days On Market:

Last Transaction Date:

2024-11-06 17:59:01

List Price:

$2,400,000

Listing Contract Date:

2024-11-06

Listing Id:

24340236

Mls Status:

Active

Modification Timestamp:

2024-11-06 17:59:01

On Market Date:

2024-11-06

Rent Includes:

Electricity,Gas,Heat,Sewer,Water

Standard Status:

Active

Location

MLS Area Major:

_148

Subdivision Name:

NORTHWEST DISTRICT

County Or Parish:

Multnomah

Lot

Features:

Level

Size Acres:

0.26

Size Dimensions:

105 x 100

Size Range:

SqFt10000to14999

Size Square Feet:

11,325

Size:

10,000 to 14,999 SqFt

Miscellaneous

Investor Information:

Incomplete

Parking

Features:

OnStreet

Property

Number Of Units Total:

Property Condition:

UpdatedRemodeled

Zoning:

RM4

Roof

Roof:

Flat,Other

Schools

High School:

Lincoln

Middle Or Junior School:

West Sylvan

Elementary School:

Chapman

Security Features

Features:

SecurityGate

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$22,069

Legal Description

Tax Year:

2024

Unit One

Actual Rent:

$1,800

Area:

550

Features:

HardwoodFloors

Units Total:

1 total bathroom

1 total bedroom

Unit Two

Actual Rent:

$2,100

Area:

700

Features:

HardwoodFloors

Units Total:

1 total bathroom

1 total bedroom

Unit Three

Actual Rent:

$2,400

Area:

900

Features:

HardwoodFloors

Units Total:

1 total bathroom

2 total bedroom

Utilities

Fuel Description:

Electricity,Gas

Hot Water Description:

Electricity,Propane

Internet Service Type:

Cable

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$2,400,000 -

2233 Nw Flanders St Portland , OR 97210

MLS Area Major: _148

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on December 20, 2024 11:49PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.