3955 SE Madison St - Madison Duplex
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3955 SE Madison St - Madison Duplex
3 Unit Apartment Building Offered at $895,000 at a 4.39% Cap Rate in Portland, OR 97214
Investment Highlights
- 1910 architecture, prime SE Hawthorne neighborhood, home could be owner occupied. Has detached garage.
- Currently, home rents as a duplex with the additional basement studio apartment.
Executive Summary
BREAKING NEWS! PRICE REDUCTION - $895,000. In addition, Seller has authorized the individual sale of this property without the continency of a simultaneous sale of nearby properties within Seller's portfolio. This property is extremely suitable for an Owner-Occupy residence with some portions of the property rented out to help Owner with Taxes and Insurance. Please do not disturb Tenants. Physical tour of property ONLY after mutually accepted LOI. Please see Scan #132 - Oregon Real Estate Agency Disclosure Pamphlet. Thank you.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$57,000
|
$18.52
|
| Other Income |
$3,000
|
$0.97
|
| Vacancy Loss |
$3,000
|
$0.97
|
| Effective Gross Income |
$57,000
|
$18.52
|
| Taxes |
$6,821
|
$2.22
|
| Operating Expenses |
$10,849
|
$3.53
|
| Total Expenses |
$17,670
|
$5.74
|
| Net Operating Income |
$39,330
|
$12.78
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $57,000 |
| Annual Per SF | $18.52 |
| Other Income | |
|---|---|
| Annual | $3,000 |
| Annual Per SF | $0.97 |
| Vacancy Loss | |
|---|---|
| Annual | $3,000 |
| Annual Per SF | $0.97 |
| Effective Gross Income | |
|---|---|
| Annual | $57,000 |
| Annual Per SF | $18.52 |
| Taxes | |
|---|---|
| Annual | $6,821 |
| Annual Per SF | $2.22 |
| Operating Expenses | |
|---|---|
| Annual | $10,849 |
| Annual Per SF | $3.53 |
| Total Expenses | |
|---|---|
| Annual | $17,670 |
| Annual Per SF | $5.74 |
| Net Operating Income | |
|---|---|
| Annual | $39,330 |
| Annual Per SF | $12.78 |
Property Facts
| Price | $895,000 | Apartment Style | Low Rise |
| Price Per Unit | $298,333 | Lot Size | 0.10 AC |
| Sale Type | Investment | Building Size | 3,077 SF |
| Cap Rate | 4.39% | Average Occupancy | 100% |
| Sale Conditions | 1031 Exchange | No. Stories | 3 |
| No. Units | 3 | Year Built | 1910 |
| Property Type | Multifamily | Parking Ratio | 0.32/1,000 SF |
| Price | $895,000 |
| Price Per Unit | $298,333 |
| Sale Type | Investment |
| Cap Rate | 4.39% |
| Sale Conditions | 1031 Exchange |
| No. Units | 3 |
| Property Type | Multifamily |
| Apartment Style | Low Rise |
| Lot Size | 0.10 AC |
| Building Size | 3,077 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1910 |
| Parking Ratio | 0.32/1,000 SF |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Fireplace
- Storage Space
- Heating
- Crown Molding
- Kitchen
- Hardwood Floors
- Refrigerator
- Range
- Tub/Shower
- Carpet
- Yard
- Basement
- Built-In Bookshelves
- Deck
- Lawn
- Window Coverings
Site Amenities
- Fenced Lot
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $2,100 | - |
| 1+1 | 1 | $1,850 | - |
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Walk Score ®
Walker's Paradise (97)
Bike Score ®
Biker's Paradise (100)
zoning
| Zoning Code | R2.5 (R2.5 Residential) |
| R2.5 (R2.5 Residential) |
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Ruggles Commercial Realty
3955 SE Madison St - Madison Duplex
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