215 NE 29TH AVE, Portland, OR 97232

$650,000
List Price
$650,000
Days on Market
15
MLS#
21096031
Property Type
Multifamily
Lot Size
0K to 2, 999 SqFt
Region
Portland Northeast
Status
Active

Property Description

First time on the market in 36 years! Incredible opportunity to own a cashflow positive duplex in a premium close-in Portland neighborhood. Fully rented with solid tenants at market value ($1600 for each unit), but lots of potential for sweat equity and increased cashflow. Pre-inspection, sewer and radon will be available on 4/9. All old photos of upper unit, main level and updated photos coming on 4/8.

Additional Information

Tax Amount
$6,937
Year Built
1909
High School
Cleveland
Elementary School
Buckman
Middle School
Hosford
Stories
3
Subdivision
Kerns/Laurelhurst
Terms
Cash, Conventional, FHA, VA Loan
Fuel Description
Other
Heating Description
Other
Exterior Description
Wood Siding
Roof Type
Composition
Sewer Description
Public Sewer
Water Description
Public
Sq Ft Approximate Building Total
3067
Capitalization Rate
5.01
Operating Expenses Actual
5840
Gross Income Actual
38400
Gross Rent Multiplier
16.93
Net Income Actual
32560
Occupancy Types
Leased, Month To Month
Road Surface
Paved
Number Of Units Total
2
Unit Type One Baths Total
1
Unit Type One Beds Total
2
Unit Type One Rent
1600
Unit Type One Sq Ft
1000
Unit Type One Units Total
2

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of The Group Real Estate Services.

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