You can not ask for a better location for a 4 plex, 1 block west of NW 23rd Avenue (Walk score of 92)! Consisting of (4) one bedroom units on .06 acres, common areas are accessed through the main entrance, with (2) units each on the 1st & 2nd floors. The units retain their original architectural charm, while tenants benefit from updated kitchens & electrical and new heating/cooling pumps. Individual storage units and onsite laundry are found in the basement as well as a storage area in the attic. There is a 5th illegal unit w/separate entrance on NW Everett, currently utilized as a maintenance / storage room by the owners. This a perfect investment for someone looking for a stable, pride of ownership property looking to take advantage of the hot multi-family market, who wants to benefit from under-rented units.

Location Description:

Residing in the Alphabet District, 1 block from NW 23rd Avenue, the area is known for the plethora of boutique shops and popular restaurants. Across from the Uptown Shopping Center and only blocks from grocery & retail, the exclusive Multnomah Athletic Club, Jeld Wen field (home of the MLS Portland Timbers) and the CBD, tenants have easy access to public transportation including buses, Streetcar, & lightrail, as well as Highway 26 and I-405.

Highlights:

>> Unbelievable location 1 block off NW 23rd in the Alphabet District

>> Turn of the century architecture

>> New heating & cooling pumps and hot water heater!

>> Updated electrical to the units in 1999

>> Rare opportunity to own a trophy property in NW Portland

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Sales Info:

>> Cap rate: 3.95%

>> Commision split: 2.5%

>> NOI: $34526