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13718 SE Division St
Multifamily | 20 Units | $89,975/unit
Listing Contacts
License: OR 201222214
Active
Asking Price: $1,799,500
Earnest Money Deposit: $25,000 min.
Address
13718 SE Division St, Portland, OR 97236
Show on MapDate Added
Dec 30, 2024
Days on Market
78 days
Time Since Last Update
75 days
Details
Property TypeMultifamily
SubtypeApartment Building
Investment TypeStabilized
Investment Sub Typemultifamily
Square Footage6,000 - 8,000
Net Rentable (sq ft)7,800
Cap Rate8.45%
Pro-Forma Cap Rate9.34%
Occupancy90%
Occupancy Date01/30/2025
NOI$152,097
Pro-Forma NOI$168,000
Units20
Pads1
Year Built1948
Year Renovated2020
Buildings6
Stories1
ZoningCN 2
Lot Size (acres)0.74
Parking (spaces)25
Broker Co-OpYes
APNR 334241
Price/Unit$89,975
OwnershipPrivate
Sale Condition1031 exchange
Marketing Description
Price per door $105k. Cash flow & opportunity! At the lower end of the spectrum she is not as sexy as some but she is an earner! Don't let looks deceive you, this property is always occupied and has many long term tenants with various avenues of rent support. All but a few units have recent upgrades which would include all surfaces, New roofs on 3 of the buildings 2020. All but one building have been separately sub- metered giving the financials a huge opportunity moving forward. Windows and insulation upgraded too.
Investment Highlights
- Heating Features: Wall Furnace, Wall Heater
- Heating Fuel: Electricity
- Heating: Yes
- Water Heaters: Electricity
- Bedrooms: 21
- Full Bathrooms: 20.
- Lot Description: Level, On Busline
- Lot Size Acres: 0.74
- Lot Size Square Feet: 32234
- Parking Features: Guest, Open
- Parking Total: 25
- Elementary School: Lincoln Park
- High School: David Douglas
- Middle School: Ron Russell
- Lot Size Range: Sq Ft 20000 To Acres 1
- Annual Tax Amount: 23800.70000000
- Source Listing Status: Active
- County: Multnomah
- Cap Rate: 7.61
- Directions: 137 Th & Division
- Tax Year: 2023
- Source Property Type: Multi Family
- Parcel Number: R 334241
- Zoning: CN 2
- Source System Name: C 2 C
- Net Operating Income: 152097
- Operating Expense: 77163
- Number Of Units: 21
Valuation Calculator
Valuation Calculator
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$152,097.00
$12,674.75/mo
Valuation Metrics
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0
DSCR
8.45%
Cap Rate
8.45%
ROI
Property History
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Due Diligence
Listing Contacts
- License: OR 201222214
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Broker Information
Broker Information
Broker Name
Peter Jameson
Broker License
OR 201222214
Brokerage Name
J Residential Properties
Broker Title
Real Estate Broker
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