MLS# 24626528 – 1080 5th St, Woodburn, OR 97071 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of John L. Scott.

Property Description

Description

4 Units

Status: Pending

Year Built: 1965

Days on Website: 170

Income property with possible development potential. Two duplexes located on .37 acre level lot in Woodburn. Four units, each two-bedroom, one-bath single level with ample parking. All units rented; a couple with long term tenants with below market rents. Range, refrigerator included. Washer/dryer hookup in kitchen. Tenants pay all utilities except for garbage on two units. Rent and actual income based on 10% rent increase effective 9/1/24. Possible opportunity to build additional units. Preliminary conversation with City of Woodburn, along with approved land use on 3rd st (see attached) suggest possible development opportunity. Buyer to do all due diligence on development.

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

CrawlSpace

Building

Building Area Total:

3328

Built in 1965

Storage:

None

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4

Expenses

Operating Expense Scheduled:

10000

Operating Expense:

$10,000

Exterior Features

Exterior Description:

WoodSiding

Foundation

Foundation Details:

ConcretePerimeter,Other

Heating

Heating Available

Heating:

ForcedAir

Income

CAP Rate:

5.88

Gross Income:

$51,150

Gross Rent Multiplier:

13.68

Net Operating Income:

$41,150

Listing

Contract Status Change Date:

2024-11-14

Cumulative Days On Market:

327

Days On Market:

163

Last Transaction Date:

2024-11-19 20:23:08

List Price:

$699,900

Listing Contract Date:

2024-06-04

Listing Id:

24626528

Mls Status:

Pending

Modification Timestamp:

2024-11-19 20:23:08

Off Market Date:

2024-11-14

On Market Date:

2024-06-04

Previous List Price:

$799,000

Purchase Contract Date:

2024-11-14

Rent Includes:

None,TrashCollection

Standard Status:

Pending

Location

MLS Area Major:

_170

County Or Parish:

Marion

Lot

Features:

Level

Size Acres:

0.39

Size Range:

SqFt15000to19999

Size Square Feet:

16,988

Size:

15,000 to 19,999 SqFt

Miscellaneous

Investor Information:

AccordingToOwner

Parking

Features:

OffStreet,Open

6 total parking spots

Possession

Possession:

SubjectToTenantRights

Property

Number Of Units Total:

Zoning:

Roof

Roof:

Composition

Schools

High School:

Woodburn

Middle Or Junior School:

French Prairie

Elementary School:

Nellie Muir

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$4,906

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$1,089

Area:

832

Features:

Range,Refrigerator,WasherDryerHookup

Units Total:

1 total bathroom

2 total bedroom

Unit Two

Actual Rent:

$968

Area:

832

Features:

Range,Refrigerator,WasherDryerHookup

Units Total:

1 total bathroom

2 total bedroom

Unit Three

Actual Rent:

$1,210

Area:

832

Features:

Range,Refrigerator,WasherDryerHookup

Units Total:

1 total bathroom

2 total bedroom

Unit Four

Actual Rent:

$968

Area:

832

Features:

Range,Refrigerator,WasherDryerHookup

Units Total:

1 total bathroom

2 total bedroom

Utilities

Fuel Description:

Gas

Hot Water Description:

Electricity

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$699,900 -

1080 5th St Woodburn , OR 97071

MLS Area Major: _170

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on November 21, 2024 12:08AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.