Homes for sale - 2815 SE 87TH AVE, Portland, OR 97266

See all 11 photos

11 photos

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Garett & Claire Chadney

[email protected] +1(503) 970-0858

Listed by eXp Realty, LLC • 503-289-0733

$950,000

Est. payment - /mo

4,992 SqFt

Save

UPDATED:

11/21/2024 01:07 AM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,992 sqft

Price per Sqft $190

Subdivision Powellhurst-Gilbert

MLS Listing ID 24364029

Year Built 2000

Annual Tax Amount $14,230

Tax Year 2023

Lot Size 0.290 Acres

Property Description

Prime SE 4-Plex - Income-Generating or Owner-Occupant OpportunityBuilt in 2000 and family-owned since construction, presents a unique investment opportunity in the highly desirable Montavilla neighborhood. Whether you’re a seasoned investor looking for a reliable income-producing property or a potential owner-occupant seeking to live in one unit while generating rental income from the others, this property offers significant potential. Situated between Division St and Powell Blvd., in the Powellhurst-Gilbert, this property is ideally located near shops,restaurants, and public transportation, ensuring high tenant demand and consistent occupancy. Each unit features a spacious 3-bd, 2.5-bath townhome-style floor plan. The property generates a gross annual income of $95,040, with net income potential of $73,510 after operating expenses, including property taxes, insurance, and estimated costs for water, sewer, and garbage services. Each unit is approximately 1,200 square feet, offering modern layouts, garages, and additional parking to meet tenants' needs. Recent improvements, including a roof less than 10 years old, HW floor, and kitchen and furnace update minimize future maintenance costs, preserving long-term value. With reliable tenants and stable rental income, this 4-plex produces $7,920 in monthly rental income, making it an excellent turnkey investment in a busy close in neighborhood.For investors, this property offers an approx. Cap Rate of 6.39%, making it a favorable opportunity in a high-demand market. For owner-occupants, the ability to live in one unit while generating rental income from the other three presents an appealing option to significantly offset mortgage payments. We invite serious buyers to request a detailed financing sheet for more in-depth financials. Offers should be made subject to interior inspection. This is a rare chance to acquire an income-generating property with a favorable Cap Rate.

Location

State OR

County Multnomah

Area _143

Zoning RM1

Rooms

Basement None

Interior

Heating Forced Air

Exterior

Garage Spaces 4.0

Roof Type Composition

Garage No

Building

Lot Description Flag Lot, Level

Story 2

Sewer Public Sewer

Water Public Water

Level or Stories 2

Schools

Elementary Schools Clark

Middle Schools Harrison Park

High Schools Leodis Mcdaniel

Others

Acceptable Financing Cash, Conventional, FHA

Listing Terms Cash, Conventional, FHA

Read Less Info

Regional Multiple Listing Service (RMLS)

Get More Information

Garett & Claire Chadney

+1(503) 970-0858

Principal Broker / Owner | License ID: 930300059

Principal Broker / Owner License ID: 930300059

Quick Search

2815 SE 87TH AVE Portland, OR 97266

Garett & Claire Chadney

Garett & Claire Chadney

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Get More Information