MLS# 24467007 – 5550 Sw Beaverton Hillsdale Hwy, Portland, OR 97221 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of John L. Scott.

Property Description

Description

9 Units

Status: Pending

Year Built: 1950

Neighborhood: 5550-5564

Days on Website: 87

This updated 100% occupied 8 plex (built in 1986-87) comes with a 1800sf, 3-bedroom, 2-bath ranch house on a .45-acre lot. Grocery shopping and restaurants are just across the street & it's next to easy bus transportation. There is so much opportunity for increased rental income: a family member occupies the house so currently no rent has been collected there but could easily rent for $3,300 a month which would increase the Cap rate to over 6%. It features a full unfinished basement with full bath or another multi-plex could be built in place of the ranch house giving you many more units and income.

Property Details and Features

Property Access

Road Surface Type:

Concrete,Paved

Basement

Basement:

FullBasement

Building

Building Area Total:

8616

Built in 1950

Storage:

Basement,Garage

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2

Community

Community Features:

Laundry

Expenses

Operating Expense Scheduled:

57930

Operating Expense:

$56,844

Exterior Features

Exterior Description:

Brick,Cedar,LapSiding,TongueandGroove

Foundation

Foundation Details:

Slab

Garage

Garage Spaces:

Heating

Heating Available

Heating:

ForcedAir,Zoned

Income

CAP Rate:

4.01

Gross Income:

$136,800

Gross Rent Multiplier:

14.58

Gross Scheduled Income:

$178,800

Net Operating Income:

$79,956

Net Scheduled Income:

120730

Listing

Contract Status Change Date:

2024-08-12

Cumulative Days On Market:

Days On Market:

Last Transaction Date:

2024-08-12 21:02:07

List Price:

$1,995,000

Listing Contract Date:

2024-06-12

Listing Id:

24467007

Mls Status:

Pending

Modification Timestamp:

2024-08-12 21:02:07

Off Market Date:

2024-08-12

On Market Date:

2024-06-12

Purchase Contract Date:

2024-08-12

Rent Includes:

MaintenanceGrounds,Sewer,TrashCollection,Water

Standard Status:

Pending

Location

MLS Area Major:

_148

Subdivision Name:

5550-5564

County Or Parish:

Multnomah

Lot

Size Acres:

0.45

Size Range:

SqFt15000to19999

Size Square Feet:

19,602

Size:

15,000 to 19,999 SqFt

Parking

Features:

Assigned,GarageDoorOpener

12 total parking spots

Possession

Possession:

CloseOfEscrow

Property

Number Of Units Total:

Property Condition:

Existing

Property View

Zoning:

RM1

Roof

Roof:

Composition

Schools

High School:

Ida B Wells

Middle Or Junior School:

Robert Gray

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$22,228

Legal Description

Tax Year:

2023

Unit One

Area:

1800

Features:

Dishwasher,Fireplace,HardwoodFloors,WasherDryer

Units Total:

2 total bathrooms

3 total bedroom

Unit Two

Actual Rent:

$1,425

Area:

852

Features:

Dishwasher,Range,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Utilities

Fuel Description:

Electricity,Gas

Hot Water Description:

Electricity,Tank

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$1,995,000 -

5550 Sw Beaverton Hillsdale Hwy Portland , OR 97221

MLS Area Major: _148

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.