MLS# 310249454 – 3403 Se Madison St, Portland, OR 97214 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Property Description

Description

7 Units

Status: Active

Year Built: 1959

Neighborhood: Hawthorne

Days on Website: 19

Highly desirable Hawthorne 7 plex. Mid-Century Modern architecture and construction. Built with an owners unit A good mix of 1-bedroom and 2-bedroom apartments. Heated floors, fireplaces, concrete, cork, and some with hardwood floors. Large windows, and spacious units with plenty of storage. Washer and dryer, separate storage units, and strong rental history. SHOWINGS SUBJECT TO AN ACCEPTED OFFER. PLEASE DO NOT DISTURB THE TENANTS.

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

PartialBasement,StorageSpace

Building

Built in 1959

Storage:

Basement

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4,UnitTypeType5,UnitTypeType6,UnitTypeType7

Community

Community Features:

AllLandscaping,Laundry

Expenses

Operating Expense:

$77,758

Exterior Features

Exterior Description:

Brick,WoodSiding

Foundation

Foundation Details:

ConcretePerimeter

Heating

Heating Available

Heating:

FloorFurnace,Radiant

Income

CAP Rate:

4.66

Gross Income:

$147,644

Gross Rent Multiplier:

10.16

Net Operating Income:

$69,886

Listing

Contract Status Change Date:

2025-01-08

Days On Market:

Last Transaction Date:

2025-01-22 14:56:44

List Price:

$1,500,000

Listing Contract Date:

2025-01-08

Listing Id:

310249454

Mls Status:

Active

Modification Timestamp:

2025-01-22 14:56:44

On Market Date:

2025-01-08

Rent Includes:

Heat,MaintenanceGrounds,Sewer,TrashCollection,Water

Standard Status:

Active

Location

MLS Area Major:

_143

Subdivision Name:

HAWTHORNE

County Or Parish:

Multnomah

Lot

Features:

CornerLot

Size Acres:

0.23

Size Range:

SqFt10000to14999

Size Square Feet:

10,018

Size:

10,000 to 14,999 SqFt

Parking

Features:

None

Possession

Possession:

CloseOfEscrow

Property

Number Of Units Total:

Property Condition:

Approximately

Zoning:

Roof

Roof:

Composition

Schools

High School:

Franklin

Middle Or Junior School:

Sunnyside Env

Elementary School:

Sunnyside Env

Security Features

Features:

Unknown

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$13,586

Legal Description

Tax Year:

2024

Unit One

Actual Rent:

$1,795

Area:

625

Features:

Dishwasher,Microwave,Refrigerator,Storage

Units Total:

1 total bathroom

1 total bedroom

Unit Two

Actual Rent:

$1,990

Area:

800

Features:

Fireplace,Range,Refrigerator,Storage

Units Total:

1 total bathroom

2 total bedroom

Unit Three

Actual Rent:

$1,895

Area:

900

Features:

Dishwasher,Fireplace,Range,Storage

Units Total:

1 total bathroom

2 total bedroom

Unit Four

Actual Rent:

$1,995

Area:

1000

Features:

Dishwasher,Fireplace,HardwoodFloors,Storage

Units Total:

1 total bathroom

2 total bedroom

Unit Five

Actual Rent:

$1,695

Area:

600

Features:

Range,Refrigerator,Storage

Units Total:

1 total bathroom

1 total bedroom

Unit Six

Actual Rent:

$1,695

Area:

625

Features:

Range,Refrigerator,Storage

Units Total:

1 total bathroom

1 total bedroom

Unit Seven

Actual Rent:

$1,695

Area:

625

Features:

Range,Refrigerator,Storage

Units Total:

1 total bathroom

1 total bedroom

Utilities

Fuel Description:

Gas

Hot Water Description:

Electricity,Other

Water Source:

PublicWater

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3403 Se Madison St Portland , OR 97214

Property Description

Description

Open House

Open House

Property Details and Features

Property Details and Features

Contact an Agent

John Wesley McPherson, Jr., CFA

Location

Street View

Nearby Schools

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