2610-2618 NE Clackamas St
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2610-2618 NE Clackamas St
5 Unit Apartment Building $900,000 ($180,000/Unit) 5.97% Cap Rate Portland, OR 97232
Investment Highlights
- Quiet, tree-lined street
- Off street parking
- Updated units
- Large units
- Easy access to public transportation
- Professionally managed
Executive Summary
PRICE REDUCED!! Fantastic close in NE location! Large units with many recent interior updates. Off street parking. Upside in rents!
Financial Summary (Pro forma - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$84,252
|
$21.46
|
| Other Income |
$4,600
|
$1.17
|
| Vacancy Loss |
$2,527
|
$0.64
|
| Effective Gross Income |
$86,325
|
$21.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$32,624
|
$8.31
|
| Net Operating Income |
$53,701
|
$13.68
|
Financial Summary (Pro forma - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $84,252 |
| Annual Per SF | $21.46 |
| Other Income | |
|---|---|
| Annual | $4,600 |
| Annual Per SF | $1.17 |
| Vacancy Loss | |
|---|---|
| Annual | $2,527 |
| Annual Per SF | $0.64 |
| Effective Gross Income | |
|---|---|
| Annual | $86,325 |
| Annual Per SF | $21.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $32,624 |
| Annual Per SF | $8.31 |
| Net Operating Income | |
|---|---|
| Annual | $53,701 |
| Annual Per SF | $13.68 |
Property Facts
| Price | $900,000 | Apartment Style | Garden |
| Price Per Unit | $180,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 5.97% | Building Size | 3,926 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 2.55/1,000 SF |
| Price | $900,000 |
| Price Per Unit | $180,000 |
| Sale Type | Investment |
| Cap Rate | 5.97% |
| Sale Conditions | 1031 Exchange |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 3,926 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1969 |
| Parking Ratio | 2.55/1,000 SF |
Unit Amenities
- Dishwasher
- Fireplace
- Hardwood Floors
- Refrigerator
- Range
- Carpet
- Double Pane Windows
Site Amenities
- Laundry Facilities
- Pet Play Area
- Recycling
- Smoke Free
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,267 | 540 |
| 4+2 | 1 | $2,298 | 1,292 |
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Walk Score ®
Walker's Paradise (92)
Bike Score ®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | R182047 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $448,320 |
PROPERTY TAXES
Parcel Number
R182047
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$448,320
zoning
| Zoning Code | R2.5 |
| R2.5 |
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2610-2618 NE Clackamas St
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