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Listed by MORE Realty • 503-701-4963
$ 825,000
Est. payment | /mo
1,600 SqFt
$ 825,000
Est. payment | /mo
1,600 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,600 sqft
Price per Sqft $515
Subdivision Montavilla
MLS Listing ID 616068677
Year Built 1924
Annual Tax Amount $10,911
Tax Year 2024
Lot Size 7,405 Sqft
Property Description
Triplex with 6.18% Cap Rate. Current loan on the property is assumable at well below market rate. Great investment opportunity in Montavilla neighborhood of NE Portland. 3 addresses on 1 tax lot. Front house will roll into a month to month lease starting 6/27/2025 without a rent increase. This may open opportunities for a owner occupied unit and keep the duplex as a rental. The 3-unit property consists of a 774 square foot, detached home built in 1924. A duplex on the back of the property was built in 2005. House features hard wood flooring, jack & jill bathroom and large unfinished basement. The duplex units are each comprised of 3 bedrooms & 2.5 bath with quality finishes, stainless appliances, gas fireplaces, quality flooring and fenced yards.
Location
State OR
County Multnomah
Area _142
Zoning RM1
Rooms
Basement Crawl Space, Unfinished
Interior
Heating Forced Air
Exterior
Garage Spaces 2.0
Roof Type Composition
Garage No
Building
Lot Description Gentle Sloping
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Vestal
Middle Schools Harrison Park
High Schools Leodis Mcdaniel
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Sarah Boylan, MBA
Licensed Real Estate Broker