MLS# 24464631 – 6280 Cottonwood St, Salem, OR 97317 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Windermere Pacific West Prop..

Property Description

Description

4 Units

Status: Pending

Year Built: 1965

Days on Website: 42

Two separate single family homes plus a duplex, all on 2.25 acres. 4 unit investment opportunity, fully rented, with positive cash flow. Each unit has own separate meters. Tenants pay all utilities. Seller pays property taxes & insurance. On well/septic. A great return on your investment. Buyer to do own due diligence. One well is shared between all properties. In the last 10 years; pump, electrical and pressure tank have been replaced. Two septic systems on property installed in last 10 years. Many updates in 3/1 unit, tenants since 7/2024. All roofs 10-12 Years old. Duplex tenants since 2017, house tenants for 11 yrs. All units month-month.

Property Details and Features

Basement

Basement:

PartiallyFinished

Building

Built in 1965

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4

Expenses

Operating Expense:

$7,697

Exterior Features

Exterior Description:

LapSiding

Heating

Heating Available

Heating:

Baseboard,Radiant,WallHeater

Income

CAP Rate:

9.29

Gross Income:

$85,440

Gross Rent Multiplier:

10.77

Net Operating Income:

$85,440

Listing

Contract Status Change Date:

2024-10-25

Cumulative Days On Market:

Days On Market:

Last Transaction Date:

2024-11-01 10:00:44

List Price:

$920,000

Listing Contract Date:

2024-10-11

Listing Id:

24464631

Mls Status:

Pending

Modification Timestamp:

2024-11-01 10:00:44

Off Market Date:

2024-10-25

On Market Date:

2024-10-11

Previous List Price:

$950,000

Purchase Contract Date:

2024-10-25

Rent Includes:

Sewer,Water

Standard Status:

Pending

Location

MLS Area Major:

_176

County Or Parish:

Marion

Lot

Size Acres:

2.25

Size Range:

Acres1to3

Size Square Feet:

98,010

Size:

1 to 2.99 Acres

Miscellaneous

Investor Information:

AccordingToOwner,TaxReturnsAvailable

Parking

Features:

RVAccessParking

Possession

Possession:

CloseOfEscrow

Property

Number Of Units Total:

Property View

Zoning:

Roof

Roof:

Composition

Schools

High School:

McKay

Middle Or Junior School:

Stephens

Elementary School:

Lamb

Sewer

Sewer:

SepticTank

Taxes

Annual Amount:

$5,899

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$1,260

Area:

826

Units Total:

1 total bathroom

2 total bedroom

Unit Two

Actual Rent:

$1,260

Area:

826

Units Total:

1 total bathroom

2 total bedroom

Unit Three

Actual Rent:

$1,750

Area:

1029

Features:

WasherDryerHookup

Units Total:

1 total bathroom

3 total bedroom

Unit Four

Actual Rent:

$2,850

Area:

2032

Units Total:

3 total bathrooms

5 total bedroom

Utilities

Fuel Description:

Electricity

Hot Water Description:

Electricity

Water Source:

Well

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$920,000 -

6280 Cottonwood St Salem , OR 97317

MLS Area Major: _176

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.