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11018 E Burnside St
Multifamily | 4 Units | $237,500/unit
Listing Contacts
J Residential PropertiesLicense: OR 201222214
Active
Asking Price: $950,000
Address
11018 E Burnside St, Portland, OR 97216
Show on MapDate Added
Dec 30, 2024
Days on Market
109 days
Time Since Last Update
10 days
Details
Property TypeMultifamily
SubtypeApartment Building
Investment TypeStabilized
Investment Sub Typemultifamily
Square Footage3,288
Net Rentable (sq ft)3,288
Price/Sq Ft$288.93
Cap Rate5.12%
Pro-Forma Cap Rate6.84%
Occupancy100%
Occupancy Date01/30/2025
NOI$48,599
Pro-Forma NOI$65,000
Units4
Pads2
Year Built1964
Buildings2
Stories1
ZoningR 2
Lot Size (acres)0.33
Parking (per unit)2
Broker Co-OpYes
APNR 320006
Price/Unit$237,500
INTELLIGENCEMarketing Description
DND Tenants or walk the property without listing agent. Strong rental history & excellent owner occupied opportunity. Large 2 bed/1 bath, single level units w/large yard. Two buildings. Potential for additional units on large lot. 8-10 parking spaces off street. 100% occupied. Close to mass transit, freeways and shopping. Listing agent part owner. Subject to 1031 exchange. No interior showings w/o acceptable offer and proof of funds.
Investment Highlights
- Lot Description: Level, Light Rail
- Lot Size Acres: 0.33
- Lot Size Square Feet: 14374
- Number Of Units: 4
- Unit Type: Unit Type Type 1
- Bedrooms In Unit-1: 2
- Total Bathrooms In Unit-1: 1
- Gross Income: 70500
- Gross Scheduled Income: 87024
- Rent Includes: Sewer, Trash Collection, Water
- Lot Size Range: Sq Ft 10000 To 14999
- Annual Tax Amount: 8613.520000000
- Source Listing Status: Active
- County: Multnomah
- Cap Rate: 4.88
- Directions: 122 Nd Burnside, West To Property Located On S.Side Of Light Rail
- Tax Year: 2024
- Source Property Type: Multi Family
- Source Neighborhood: Gateway
- Parcel Number: R 320006
- Subdivision: Gateway
- Zoning: R 2
- Source System Name: C 2 C
- Net Operating Income: 48599
- Operating Expense: 21901
- Year Built: 1964
- Building Exterior Type: Lap Siding, T 111 Siding
- Foundation Details: Concrete Perimeter
- Property Age: 60
- Property Condition: Approximately
- Roof: Composition
- Levels Or Stories: 1
Valuation Calculator
Valuation Calculator
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$48,599.00
$4,049.92/mo
Valuation Metrics
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0
DSCR
5.12%
Cap Rate
5.12%
ROI
Property History
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Due Diligence
Listing Contacts
- J Residential PropertiesLicense: OR 201222214
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Additional Information
Additional Information
Broker Name
Peter Jameson
Broker License
OR 201222214
Brokerage Name
J Residential Properties
Broker Title
Real Estate Broker
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