Property Listing No Longer Available for Sale

3905 SE 54th, Portland, OR

Multi-family for Sale - $445,000 - 4,410 Sq. Ft. on 0.09 acres


Property Info

CIMLS#75191
Location
  3905 SE 54th
  Portland OR 97206
UpdatedOctober 16th, 2008
TypeMulti-family
Price$445,000
Building4,410 Sq. Ft.
Land0.09 acres

Property Description

Three floor 4-plex. Two 1-Bed units and Two 2-Bed units. Building was built in the late 20's as a group Dental Office and converted years later to a 4-plex. It's Solid and in great shape, no deferred maintenance. Roof, Skylight, Carpet, most toilets and Sinks, Water Heater,and more, have all been redone within the past two years.

Grass area adjacent was origionally planned for a duplicate structure. CG zoning allows any buyer multiple options. Right at Foster, city Transportation dept. stated, per the level of public transportaton available, no additional parking would be needed for most structures (buyer to verify).

Questions???? - Give me a call.


Financials

Current net is lower than other rents in this area. Seller has long term tenants and has not kept up with local rates. Tenants expect an increase with new owners. Per the location, new renters have always applied before exiting tenants are gone.....with a window sign being the only method of advertising. This is a DESIRABLE area.