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Alex & Sierra Rosenbaum

alex@alexrosenbaum.com +1(415) 318-0001

Listed by RMS Investment Real Estate

$ 2,500,000

Est. payment | -/mo

10,394 SqFt

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$ 2,500,000

Est. payment | -/mo

Save

10,394 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 10,394 sqft

Price per Sqft $240

Subdivision Buckman

MLS Listing ID 644112001

HOA Y/N No

Year Built 1964

Annual Tax Amount $25,628

Lot Size 0.350 Acres

Property Description

Assumable Loan at 4.05% Interest til 2034One Two-Bedroom and Fourteen One-Bedroom UnitsThe Buckman neighborhood is one of Portland's most desirable. It is convenient to Interstates 5,405, 84, and 26, and offers easy access to Portland's extensive public transit system via both multiple bus lines and the Max light rail, just blocks away.The property itself boasts a Walkscore of 82 which deems the location to be a 'very walkable'. There is an array of restaurants, bars, shops, coffee houses, grocery stores and more. Nearby Colonel Summers Park offers a playground, dog park, community garden, sports courts, and plenty of green space to enjoy. Area planned developments, including additional residential and retail projects will continue to solidify the neighborhood's 'destination' and community feel.The immediate area surrounding the subject property has exhibited extremely high historical occupancy. When combined with the numerous walkable neighborhood amenities and ease of commute to downtown Portland, the subject property is ideally poised to attract and retain a wide variety of tenant profiles from urban professionals to young families seeking a close-in, convenient residential neighborhood. The property offers the opportunity to capitalize on a location that lends itself to continuous demand. As the Portland area's rents continue to increase, cash flow will grow steadily. The size of the property is easily owner-managed, allowing for significant expense savings.The asset will continue to provide a steady cash flow for the foreseeable future. This investment is ideal for someone looking for steady, reliable income in a low-vacancy, increasing-rent environment. Value-add investors can remodel the units to get top of the market rates withWalkscore of 94 “Walker's Paradise”One Hundred and Thirteen Restaurants and Bars Within a Half Mile8.64% Total ReturnAcross the Street from Buckman ElementaryBuckman Neighborhood Commands Highest Rents in Close-In East Side

Location

State OR

County Multnomah

Community Alllandscaping

Area _143

Zoning R5

Rooms

Basement Crawl Space

Interior

Heating Radiant

Cooling None

Exterior

Community Features AllLandscaping

Roof Type Composition,Shingle

Garage No

Building

Lot Description Sloped, Trees

Story 2

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public Water

Level or Stories 2

Schools

Elementary Schools Buckman

Middle Schools Hosford

High Schools Cleveland

Others

Acceptable Financing Assumable, Cash, Conventional

Listing Terms Assumable, Cash, Conventional

Regional Multiple Listing Service (RMLS)

Nearby Locations

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Alex & Sierra Rosenbaum

REALTORS® Lic# 201233003 | Lic# 20124996

alex@alexrosenbaum.com

+1(415) 318-0001

590 Pearl St, # 109, Eugene, OR 97401

1800 SE STARK ST SE Portland, OR 97214

Alex & Sierra Rosenbaum

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Nearby Locations

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1800 SE STARK ST SE