MLS# 632371620 – 3807 S Water Ave, Portland, OR 97239 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Kelly Right Real Estate of Portland, LLC.

Property Description

Description

23 Units

Status: Active

Year Built: 1976

Days on Website: 19

Well maintained 23 - unit apartment complex, with garages, carports and off-street parking. Great location, nearby Tram to the OHSU Hospital and medical offices. Accessible to downtown, shops, restaurants, offices and the Willamette River. (Actual current monthly rents as per supplemental schedule of rents, and actual square feet per unit as per appraisal report).

Property Details and Features

Building

Stories:

Built in 1976

Storage:

Basement,Garage

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3

Property Access

Road Surface Type:

Paved

Basement

Basement:

ExteriorEntry,StorageSpace

Community

Community Features:

Laundry

Expenses

Operating Expense Scheduled:

64826

Operating Expense:

$64,826

Exterior Features

Exterior Description:

LapSiding

Foundation

Foundation Details:

ConcretePerimeter

Heating

Heating Available

Heating:

Zoned

Income

CAP Rate:

4.42

Gross Income:

$281,270

Gross Rent Multiplier:

17.42

Gross Scheduled Income:

$324,050

Net Operating Income:

$216,444

Net Scheduled Income:

259224

Listing

Contract Status Change Date:

2025-01-06

Days On Market:

Last Transaction Date:

2025-01-07 23:38:18

List Price:

$4,900,000

Listing Contract Date:

2025-01-06

Listing Id:

632371620

Mls Status:

Active

Modification Timestamp:

2025-01-07 23:38:19

On Market Date:

2025-01-06

Rent Includes:

Sewer,TrashCollection,Water

Standard Status:

Active

Location

MLS Area Major:

_148

County Or Parish:

Multnomah

Lot

Features:

GentleSloping,Level

Size Acres:

0.3

Size Range:

SqFt10000to14999

Size Square Feet:

13,068

Size:

10,000 to 14,999 SqFt

Miscellaneous

Investor Information:

Leases,ProfitLossStatement,RentRecords

Parking

Features:

Carport,OffStreet

Possession

Possession:

CloseOfEscrow

Property

Number Of Units Total:

Property Condition:

Existing

Property View

Zoning:

RM2

Roof

Roof:

Composition

Schools

High School:

Ida B Wells

Middle Or Junior School:

Robert Gray

Elementary School:

Ainsworth

Security Features

Features:

Sidewalk

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$39,057

Legal Description

Tax Year:

2024

Unit One

Actual Rent:

Area:

Features:

Range,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Unit Two

Actual Rent:

Area:

570

Features:

Range,Refrigerator

Units Total:

1 total bathroom

1 total bedroom

Unit Three

Actual Rent:

Area:

400

Features:

Range,Refrigerator

Units Total:

1 total bathroom

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

$4,900,000 -

3807 S Water Ave Portland , OR 97239

MLS Area Major: _148

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on January 26, 2025 11:46PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.