Listing Courtesy of: 503-289-0733 - Debbie Gaudry - eXp Realty, LLC
888-814-9613
$1,150,000
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2815 SE 87TH Ave Unit 2815 Portland, OR 97266
Multi-Family
Residence
Beds
Baths
4,992
Sq. Ft.
0.29
Acre
Lot
Property Activity
Time on Site
days
Days on Market
Views
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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 poten...tial 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.
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MLS#
24364029
Property Type
Multi-Family
Status
Year Built
2000
Square Feet
4,992
sq. ft
Lot Size
0.29
Sewer
Public Sewer Available
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