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Listing 15 out of 97
$600,000 Pending

5135 NE 42nd Ave
Portland, OR 97218

2 units | Multi Family Home - MLS# 18654458
Property Photo
1/13

Description

Great redevelopment site on corner lot. Current zoning of R1 is changing to CM2 in 2018. Excellent investment and cash flow opportunity on close-in NE 42nd. Currently a duplex that lives like a 4-plex with a detached room behind the main building built from two shipping containers. Buy and bank it with positive cash flow(6 cap rate) and develop later. See plans for unit layouts.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Pending
  • County/Area: Multnomah County
  • Zip Code: 97218
  • Year Built: 1929
  • Subdivision/Neighborhood: Concordia
  • Elementary School: Vernon
  • Middle School: Vernon
  • High School: Jefferson
  • Sq.Ft.: 2,880 sq ft
  • Stories: 1-Story
  • Units: 2 units
  • Basement: Finished, Exterior Entry, Partial Basement
  • Lot Size: 3, 000 To 4, 999 Sqft
  • Zoning: Remark
  • Area: Portland Northeast
  • Exterior: Vinyl Siding, Wood Siding
  • Fuel: Gas
  • Gross Income Actual: 47520
  • Gross Income Projected: 52270
  • Gross Rent Multiplier: 12.63
  • Heating: Forced Air
  • Hot Water: Electricity
  • Limited Representation: Full Service
  • Lot: On Busline, Corner, Level
  • Net Income Actual: 35083
  • Net Income Projected: 38591
  • Occupancy Types: Month To Month
  • Operating Expenses Actual: 10216
  • Operating Expenses Projected: 11500
  • Roof Type: Composition
  • School High2: Madison
  • Sewer: Public Sewer
  • Tax Amount: 3730.71
  • Terms: Cash, Conventional
  • Unit Features: Range, Refrigerator, Washer/Dryer
  • Unit Type 1 Baths Total: 2
  • Unit Type 1 Beds Total: 3
  • Unit Type 1 Features: Range, Refrigerator, Washer/Dryer
  • Unit Type 1 Sq Ft: 1690
  • Unit Type 1 Units Total: 1
  • Unit Type 2 Baths Total: 2
  • Unit Type 2 Beds Total: 2
  • Unit Type 2 Features: Range, Refrigerator, Washer/Dryer
  • Unit Type 2 Sq Ft: 1190
  • Unit Type 2 Units Total: 1
  • Utilities Included: Electricity, Trash Collection, Heat, Sewer, Water
  • Water: Public
  • Year Built Info: Approximately
Courtesy of Urban Nest Realty

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Jim Lutz

Jim Lutz, CCIM
Oregon Principal Broker
Premiere Property Group, LLC
Beaverton, OR 97006

503-750-6388
Contact Me

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Jim Lutz | 
503-750-6388 | Contact Me

1500 NW Bethany Blvd #190 - Beaverton, OR 97006
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