MLS# 24696462 – 1448 Ne 28th Ave, Portland, OR 97232 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Modern Realty.

Property Description

Description

2 Units

Status: Active

Year Built: 1909

Days on Website: 223

**Rare Mixed-Use Commercial Building located in the heart of Sullivans Gulch** Last appraised at $1.4M. Completely Restored from the studs! CM1 Zoning. Commercial portion downstairs (Zoned M for Mercantile/Retail). Currently Leased on Gross modified Lease. Residential portion (Zoned R3) located upstairs also completely renovated. New Grease trap installed in downstairs, New Garage doors, New closed cell insulation throughout commercial walls, TESLA charging ports in Driveway. Would make great coffee shop, bar, or restaurant or even office space! Plumbed for cat6, New Electrical thought, New Plumbing, New Siding, New HVAC, & Central Air, New reclaimed hardwood, New windows, New Doors, And anything else you can think of. (2) 220 amp plugs in drive way. Hot/Cold outside water. Upstairs completely remodeled. Can be used for Airbnb. Or building can be used a Work Live Space. Updaters has large 220 square ft Balcony. New Exterior lighting and Brick. Photos of the entire process taken of Renovation. No corners cut. Bike Score: 97Walk Sore: 95Transportation Score:60Distance to airport: 6.6 milesDistance to Rose Quarter: 2 milesDistance to Downtown PDX: 4.8 miles

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

None

Building

Building Area Total:

2903

Built in 1909

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2

Cooling

Cooling Equipped

Cooling:

CentralAir

Expenses

Operating Expense Scheduled:

16052

Operating Expense:

$14,256

Exterior Features

Exterior Description:

LapSiding,Stone,WoodSiding

Heating

Heating Available

Heating:

ForcedAir95Plus

Income

CAP Rate:

9.8

Gross Income:

$135,695

Gross Rent Multiplier:

9.2

Gross Scheduled Income:

$159,352

Net Operating Income:

$122,340

Net Scheduled Income:

143299

Listing

Contract Status Change Date:

2024-04-12

Days On Market:

222

Last Transaction Date:

2024-07-29 14:44:55

List Price:

$1,249,000

Listing Contract Date:

2024-04-12

Listing Id:

24696462

Mls Status:

Active

Modification Timestamp:

2024-10-16 00:30:00

On Market Date:

2024-04-12

Previous List Price:

$1,399,900

Rent Includes:

None

Standard Status:

Active

Location

MLS Area Major:

_142

County Or Parish:

Multnomah

Lot

Features:

Level

Size Acres:

0.05

Size Range:

SqFt0Kto2999

Size Square Feet:

2,178

Size:

0K to 2,999 SqFt

Miscellaneous

Investor Information:

Leases,MaintenanceRecordsAvailable,RentRecords,UtilityRecordsAvailable

Parking

Features:

Assigned

Possession

Possession:

Negotiable

Property

Number Of Units Total:

Property Condition:

UpdatedRemodeled

Property View

Zoning:

CM1

Roof

Roof:

Flat

Schools

High School:

Grant

Middle Or Junior School:

Beverly Cleary

Elementary School:

Beverly Cleary

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$3,014

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$4,557

Area:

1613

Features:

AirConditioning,HardwoodFloors

Units Total:

1 total bathroom

Unit Two

Actual Rent:

$8,586

Area:

1290

Features:

AirConditioning,Deck,Furnished,WasherDryer

Units Total:

1 total bathroom

3 total bedroom

Utilities

Fuel Description:

Gas

Hot Water Description:

Gas

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$1,249,000 -

1448 Ne 28th Ave Portland , OR 97232

MLS Area Major: _142

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.