MLS# 24543152 – 2405 Ne 88th Ave, Portland, OR 97220 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of MORE Realty.

Property Description

Description

2 Units

Status: Pending

Year Built: 1953

Days on Website: 92

MUST SEE THIS UNIQUE VERSATILE INVESTMENT OPPORTUNITY!! Multigenerational?? Here' a breakdown: Main Home-720 sq ft, features 2 bedroom, 1 bathroom. Currently rented for $1,695/month. ADU-506 sq ft studio apartment with 1 bathroom and a Murphy bed. Rented for $1,150/month. TOTAL OF 1230 sq ft! Tiny House is an additional unit available for purchase alongside the main home and ADU with rental income of $1,300/month. Both the main home and ADU have been newly updated, and each unit has its own fenced yard. The property has a strong rental history, and current tenants are interested in staying. Buyers are advised to conduct all due diligence.

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

None

Building

Building Area Total:

1230

Built in 1953

Storage:

Attached,IndividualStorageUnits

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2

Expenses

Operating Expense:

$7,506

Exterior Features

Exterior Description:

WoodSiding

Foundation

Foundation Details:

ConcretePerimeter

Heating

Heating Available

Heating:

ForcedAir

Income

CAP Rate:

5.66

Gross Income:

$35,820

Gross Rent Multiplier:

13.96

Net Operating Income:

$28,320

Listing

Contract Status Change Date:

2024-09-28

Cumulative Days On Market:

Days On Market:

Last Transaction Date:

2024-09-30 16:32:55

List Price:

$500,000

Listing Contract Date:

2024-08-16

Listing Id:

24543152

Mls Status:

Pending

Modification Timestamp:

2024-11-13 08:48:27

Off Market Date:

2024-09-28

On Market Date:

2024-08-16

Previous List Price:

$449,000

Purchase Contract Date:

2024-09-28

Rent Includes:

Sewer,TrashCollection,Water

Standard Status:

Pending

Location

MLS Area Major:

_142

County Or Parish:

Multnomah

Lot

Features:

CornerLot,Level

Size Range:

SqFt5000to6999

Size:

5,000 to 6,999 SqFt

Parking

Features:

Driveway,OnStreet

4 total parking spots

Possession

Possession:

CloseOfEscrow

Property

Number Of Units Total:

Property Condition:

UpdatedRemodeled

Zoning:

Roof

Roof:

Metal

Schools

High School:

Leodis McDaniel

Middle Or Junior School:

Roseway Heights

Elementary School:

Jason Lee

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$4,589

Legal Description

Unit One

Actual Rent:

$1,695

Area:

720

Features:

Dishwasher,Refrigerator,WasherDryerHookup,WoodFloors

Units Total:

1 total bathroom

2 total bedroom

Unit Two

Actual Rent:

$1,150

Area:

506

Features:

Dishwasher,Refrigerator,Storage,WasherDryerHookup

Units Total:

1 total bathroom

Utilities

Fuel Description:

Electricity,Gas

Water Source:

PublicWater

[+] Read More

Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$500,000 -

2405 Ne 88th Ave Portland , OR 97220

MLS Area Major: _142

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on November 22, 2024 11:50PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.