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20838897
20838896

3324 SE 24th Ave, Portland, OR 97202

JS
OR OR 201228311
Kelly Right Real Estate
Listed by Kelly Right Real Estate
$1,195,000
556 days on market
Updated 150 days ago

Fully Permitted Short Term Rental Property

Details
APN R122764
Property Type Hospitality, Multifamily
Sub Type Hotel, RV Park (+1)
Square Footage 1,640
Net Rentable (SqFt) 1,640
Units 4
Cap Rate 7.48%
NOI $89,418
Pro-Forma Cap Rate 8.05%
Pro-Forma NOI $96,165
Price per SqFt $729
Broker Co-Op Yes
Class A
Year Built 1904
Year Renovated 2018
Buildings 4
Stories 2
Lot Size (SqFt) 5,000
Zoning CM2
Investment Type Stabilized
Ownership Fee Simple
Sale Condition For sale by owner

Fully Permitted Short Term Rental | 7.48% CAP

Marketing description

Fully permitted and operational short term rental! This farmhouse was built in 1904 and fully updated in 2018. In 2022 a tiny tiny home village was built in the backyard and also permitted for full time short term rental use. The property features a home, and three studio apartment tiny homes in the back with a common area gazebo & fire pit.

The property can be listed as four separate dwelling units, or altogether as one large listing for hosting larger groups. The income shown in the marketing package is based on the properties actual performance for the last 12 months. A management team has been in place operating short term rentals here since 2018, and wants to continue managing the property through new ownership to provide a passive investment. View the property listing here for more photos and information: https://booking.stayportlandcollection.com/property/restored-farmhouse-backyard-tiny-house-village

There is no sign on the property. Please do not disturb guests. Coordinate with the listing agent to schedule a time to tour.

Investment highlights

Fully Permitted for Year Round Short Term Rental

Strong History of High Income

Turn Key Passive Investment

All Furniture, Tiny Homes, and Short Term Rental Essentials Included

Listing Contacts

JS
OR OR 201228311
Kelly Right Real Estate
Listed by Kelly Right Real Estate

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$89,418.00
$7,451.50/mo

Valuation Metrics

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DSCR
7.48%
Cap Rate
7.48%
ROI

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Additional Information

Name
Jacob Serrill
License
OR 201228311
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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