Cottages on 130th Ave | 2305 SE 130th Ave
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Cottages on 130th Ave 2305 SE 130th Ave
4 Unit Apartment Building $890,000 ($222,500/Unit) 6.80% Cap Rate Portland, OR 97233
Investment Highlights
- Separately metered electric
- Low maintenance
- high demand
- Low holding costs
- Metal Roof
- Single story easy access for majority of units
Executive Summary
Immaculate studs-out restoration in with high end finishes. Separately metered electric, metal roof, low maintenance landscaping, partially fenced yard with off-street parking. Great location near Starbucks, shopping, schools, and easy access to the I5 and transportation. Fully occupied. Do not disturb tenants. See attached documents for Rent comps, building diagram, zoning uses, etc
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$73,380
|
$25.36
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$73,380
|
$25.36
|
| Taxes |
$6,414
|
$2.22
|
| Operating Expenses |
$6,432
|
$2.22
|
| Total Expenses |
$12,846
|
$4.44
|
| Net Operating Income |
$60,534
|
$20.92
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $73,380 |
| Annual Per SF | $25.36 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $73,380 |
| Annual Per SF | $25.36 |
| Taxes | |
|---|---|
| Annual | $6,414 |
| Annual Per SF | $2.22 |
| Operating Expenses | |
|---|---|
| Annual | $6,432 |
| Annual Per SF | $2.22 |
| Total Expenses | |
|---|---|
| Annual | $12,846 |
| Annual Per SF | $4.44 |
| Net Operating Income | |
|---|---|
| Annual | $60,534 |
| Annual Per SF | $20.92 |
Property Facts
| Price | $890,000 | Apartment Style | Low Rise |
| Price Per Unit | $222,500 | Building Class | C |
| Sale Type | Investment | Building Size | 2,894 SF |
| Cap Rate | 6.80% | Average Occupancy | 100% |
| Gross Rent Multiplier | 8.2 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1927/2023 |
| Property Type | Multifamily | Parking Ratio | 2.76/1,000 SF |
| Property Subtype | Apartment |
| Price | $890,000 |
| Price Per Unit | $222,500 |
| Sale Type | Investment |
| Cap Rate | 6.80% |
| Gross Rent Multiplier | 8.2 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Building Size | 2,894 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1927/2023 |
| Parking Ratio | 2.76/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Carpet
- Yard
- Freezer
Site Amenities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $1,215 | 529 - 616 |
| 3+2 | 2 | $2,320 | 1,208 |
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Walk Score ®
Very Walkable (74)
Bike Score ®
Very Bikeable (80)
zoning
| Zoning Code | HR2/RM1 (Residential Multi dwelling zone is a low-scale multi-dwelling zone that is generally applied in locations intended to provide a transition in scale.) |
| HR2/RM1 (Residential Multi dwelling zone is a low-scale multi-dwelling zone that is generally applied in locations intended to provide a transition in scale.) |
-
Arnie Amsden - Amsden Realty
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Cottages on 130th Ave | 2305 SE 130th Ave
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