MLS# 24592308 – 625 E Fifth Ave, Riddle, OR 97469 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Oregon Life Homes.

Property Description

Description

3 Units

Status: Active

Year Built: 1972

Days on Website: 220

3 units on over 1 acre, already at market rents! $3800/mo in rental income! Units have been completely remodeled with vinyl plank floors, ductless heat pumps, granite counters, dishwashers, washer/dryer hook ups, and more. Each unit comes with detached storage shed and multiple parking spots! Room to expand, with plenty of parking! Conveniently located near schools and Riddle mills. Great investment or house hack (Live in one and rent the other 2)!

Property Details and Features

Property Access

Road Surface Type:

Gravel

Basement

Basement:

None

Building

Building Area Total:

2194

Built in 1972

Storage:

IndividualStorageUnits

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3

Cooling

Cooling Equipped

Cooling:

HeatPump

Expenses

Operating Expense Scheduled:

12000

Operating Expense:

$13,521

Exterior Features

Exterior Description:

T111Siding

Foundation

Foundation Details:

Slab

Heating

Heating Available

Heating:

Ductless

Income

CAP Rate:

5.49

Gross Income:

$38,246

Gross Rent Multiplier:

11.77

Gross Scheduled Income:

$45,600

Net Operating Income:

$24,725

Net Scheduled Income:

33600

Listing

Contract Status Change Date:

2024-04-17

Days On Market:

220

Last Transaction Date:

2024-11-16 12:38:58

List Price:

$450,000

Listing Contract Date:

2024-04-17

Listing Id:

24592308

Mls Status:

Active

Modification Timestamp:

2024-11-23 01:40:46

On Market Date:

2024-04-17

Previous List Price:

$475,000

Rent Includes:

Sewer,TrashCollection,Water

Standard Status:

Active

Location

MLS Area Major:

_258

County Or Parish:

Douglas

Lot

Features:

GentleSloping,Level

Size Acres:

1.12

Size Range:

Acres1to3

Size Square Feet:

48,787

Size:

1 to 2.99 Acres

Miscellaneous

Investor Information:

AccordingToOwner

Parking

Features:

Assigned,RVAccessParking

20 total parking spots

Possession

Possession:

Negotiable

Property

Number Of Units Total:

Property Condition:

Restored

Property View

Zoning:

Roof

Roof:

Composition

Schools

High School:

Riddle

Middle Or Junior School:

Riddle

Sewer

Sewer:

PublicSewer,SepticTank

Taxes

Annual Amount:

$3,214

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$1,200

Area:

640

Features:

AirConditioning,Dishwasher,Range,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Unit Two

Actual Rent:

$1,400

Area:

872

Features:

AirConditioning,Dishwasher,Range,Refrigerator

Units Total:

2 total bathrooms

3 total bedroom

Unit Three

Actual Rent:

$1,200

Area:

682

Features:

AirConditioning,Dishwasher,Range,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Utilities

Fuel Description:

Electricity

Hot Water Description:

Electricity,Gas

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$450,000 -

625 E Fifth Ave Riddle , OR 97469

MLS Area Major: _258

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.