7450 N Portsmouth Ave 7450 N Portsmouth Ave
4 Unit Apartment Building $895,000 ($223,750/Unit) 5.53% Cap Rate Portland, OR 97203
INVESTMENT HIGHLIGHTS
- Courtyard style units
- Recently Remodeled
- Offstreet, Assigned Parking
EXECUTIVE SUMMARY
Charming single-level 4-PLEX located in the highly sought-after University Park neighborhood. This well-maintained property consists of two duplexes, connected by a beautifully landscaped courtyard with native bushes and stone pathways that provide access to each unit. The spacious 100' x 105' lot is fully fenced providing added security and privacy. Each spacious 2-bedroom unit comes with an in-unit washer/dryer, a private fenced patio, and assigned off-street parking. The building boasts newer roofs, updated windows, fresh flooring, and modern appliances in most units. All units are currently rented at approximately $1,550/month. The vibrant neighborhood offers easy access to dining options, New Seasons Market, Portsmouth Park, McKenna Park, and the University of Portland. Don’t miss out on this fantastic investment with strong rental income and future growth potential!
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$74,100
|
$23.75
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$74,100
|
$23.75
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$24,613
|
$7.89
|
| Net Operating Income |
$49,487
|
$15.86
|
PROPERTY FACTS
| Price | $895,000 |
| Price Per Unit | $223,750 |
| Sale Type | Investment |
| Cap Rate | 5.53% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 12.08 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 0.24 AC |
| Building Size | 3,120 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1977/2020 |
UNIT AMENITIES
- Washer/Dryer
- Washer/Dryer Hookup
- Oven
- Patio
SITE AMENITIES
- Fenced Lot
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 3 | $1,575 | 780 |
| 2+1 | 1 | $1,450 | 780 |
1 of 1
Walk Score®
Very Walkable (85)
Bike Score®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Number | R291756 | Improvements Assessment | $0 (2023) |
| Land Assessment | $0 (2023) | Total Assessment | $293,300 (2023) |
ZONING
| Zoning Code | R2.5 (The R2.5 zone is a single-dwelling zone which allows 1 lot per 2,500 ft2. The major types of new housing development will be limited to single family) |
