MLS# 24684097 – 2609 Se Stark St, Portland, OR 97214 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Windermere Realty Trust.

Property Description

Description

5 Units

Status: Active

Year Built: 1968

Neighborhood: Buckman

Days on Website: 104

Discover this exceptional 5-plex, ideally situated in a vibrant neighborhood with a walk score of 91 and a bike score of 93, offering unparalleled convenience to restaurants, bars, and local amenities. This sought-after location ensures near-zero vacancy rates and a steady demand for rental units. The roof was professionally replaced in 2021, ensuring durability and minimal maintenance for years to come. With ample room for rental increases, this property offers significant potential for increased revenue. Tenants will enjoy the convenience of a coin-operated laundry facility and ample parking. The building is in excellent condition, ready to provide reliable rental income. Whether you're an experienced investor or looking to diversify your portfolio, this 5-plex represents a fantastic opportunity in a highly desirable location. Don’t miss out on this rare find!

Property Details and Features

Listing

Modification Timestamp:

2024-08-12 08:38:51

Contract Status Change Date:

2024-08-09

Days On Market:

103

Last Transaction Date:

2024-08-12 08:38:51

List Price:

$1,075,000

Listing Contract Date:

2024-08-09

Listing Id:

24684097

Mls Status:

Active

On Market Date:

2024-08-09

Previous List Price:

$1,075,001

Rent Includes:

MaintenanceGrounds,Sewer,TrashCollection,Water

Standard Status:

Active

Property Access

Road Surface Type:

Paved

Building

Building Area Total:

3305

Built in 1968

Storage:

IndividualStorageUnits

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4,UnitTypeType5

Community

Community Features:

Laundry

Cooling

Cooling:

None

Expenses

Operating Expense:

$23,794

Exterior Features

Exterior Description:

WoodSiding

Heating

Heating Available

Heating:

Baseboard

Income

CAP Rate:

4.99

Gross Income:

$79,800

Gross Rent Multiplier:

13.47

Net Operating Income:

$53,612

Location

MLS Area Major:

_143

Subdivision Name:

BUCKMAN

County Or Parish:

Multnomah

Lot

Features:

Level

Size Acres:

0.12

Size Dimensions:

50x100

Size Range:

SqFt5000to6999

Size Square Feet:

5,227

Size:

5,000 to 6,999 SqFt

Miscellaneous

Investor Information:

AnnualPropertyOperationData,Leases

Parking

Features:

Driveway,Paved

5 total parking spots

Possession

Possession:

SubjectToTenantRights

Property

Number Of Units Total:

Property Condition:

Existing

Zoning:

R2.5

Roof

Roof:

Composition

Schools

High School:

Franklin

Middle Or Junior School:

Sunnyside Env

Elementary School:

Sunnyside Env

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$8,816

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$1,500

Area:

800

Features:

Range,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Unit Two

Actual Rent:

$1,275

Area:

650

Features:

Range,Refrigerator

Units Total:

1 total bathroom

1 total bedroom

Unit Three

Actual Rent:

$1,250

Area:

650

Features:

Range,Refrigerator

Units Total:

1 total bathroom

1 total bedroom

Unit Four

Actual Rent:

$1,100

Area:

650

Features:

Range,Refrigerator

Units Total:

1 total bathroom

1 total bedroom

Unit Five

Actual Rent:

$1,500

Area:

800

Features:

Range,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Utilities

Fuel Description:

Electricity

Hot Water Description:

Electricity

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$1,075,000 -

2609 Se Stark St Portland , OR 97214

MLS Area Major: _143

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.