4318 Se Milwaukie Ave, Portland, OR

$2,100,000

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10,147

Square feet

About 4318 Se Milwaukie Ave

Studs-Out remodel with exceptional craftsman touches and thoughtful upgrades throughout. This building is a 10! Perfect for owner occupants looking for a premium stand-alone artist/workshop/studio! Welcome home to the iconic Brooklyn Apartments! 8 Residential units in total (plus shop, office and basement). The original 1907 building has been lovingly cared for and completely updated with new systems all while keeping the vintage charm of the Arts & Crafts era intact. The original building includes a mix of (2) 2-bedroom, (4) 1-bedroom units and (1) studio apartment with a separate office space in the basement. All the units feature stylish finishes, creative use of space and vintage flair! The building also includes a separate office space in the basement and a very spacious completely open area for future storage / office space potential. The detached garage/shop with 2-bedroom owner's unit was built in 2013 and is perfect for the woodworker, artist or craft maker looking for their own detached and free-standing 873sf shop! The unit features amazing views to the east off their own private deck. The unit itself is dialed-in with gorgeous crown molding and built-ins throughout. The shop is fully functional with all the electrical upgrades one would expect in a fully functioning wood-working shop. The building is currently fully occupied with projected income of $156,960 annually and projected NOI of $103,082. All units have immediate potential future rental growth making this a very attractive truly turn-key investment. The seller is a carpenter and a craftsman - the pride of ownership will amaze you. Owner Financing Available up to 50% LTV @ Amazing Terms!

Features of 4318 Se Milwaukie Ave

MLS® # 23206585
Price $2,100,000
Units 10
Square Footage 10,147
Year Built 1907
Type Multi Family
Status Active

Community Information

Address 4318 Se Milwaukie Ave
Area 143 - Portland Southeast
Subdivision Brooklyn
City Portland
County Multnomah
State OR
Zip Code 97202

Interior

Heating Zoned
Fireplace No
Has Basement Yes
Basement Full Basement

Exterior

Exterior Cedar
Lot Description Corner Lot
Roof Composition
Foundation Concrete Perimeter

School Information

Elementary Grout
Middle Hosford
High Cleveland

Additional Information

Date Listed April 13th, 2023
Days on Market 349
Zoning CM1
Short Sale No
RE / Bank Owned No
Cap Rate 4.95

Unit 1 Details

Beds 1
Baths 1
Rent $1,180
Features Dishwasher, Range, Refrigerator

Unit 2 Details

Beds 1
Baths 1
Rent $1,180
Features Dishwasher, Range, Refrigerator

Unit 3 Details

Baths 1
Rent $1,060
Features Range, Refrigerator

Unit 4 Details

Beds 1
Baths 1
Rent $1,230
Features Dishwasher, Range, Refrigerator

Unit 5 Details

Beds 2
Baths 1
Rent $1,850
Features AirConditioning, Dishwasher, Range, Refrigerator

Unit 6 Details

Beds 2
Baths 2
Rent $1,740
Features AirConditioning, Dishwasher, Range, Refrigerator

Unit 7 Details

Beds 1
Baths 2
Rent $1,395
Features AirConditioning, Dishwasher, Range, Refrigerator

Unit 8 Details

Baths 1
Rent $445

Unit 9 Details

Beds 2
Baths 1
Rent $2,000
Features AirConditioning, Dishwasher, Range, Refrigerator

Unit 10 Details

Baths 1
Rent $1,000

Listing Details

OfficeJMA Properties LLC

Listing Map

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