About 1035 Se 14th Ave
Charming fully restored 6-unit building situated in Buckman neighborhood between popular Belmont and Hawthorne shops and restaurants. Walkers paradise: 96 & Bikers paradise: 97. 2018 studs out remodel included electrical wiring/panels, water lines, water heaters, doors, bathrooms, common area, washer/dryer/storage room and kitchens with new cabinets, quartz countertops and stainless appliances. New roof in 2020 and common area windows in 2021. Unit mix is comprised of three (3) 1 bed / 1 bath units, one (1) 2 bed / 1 bath unit and two studios upstairs sharing one bath. Prime close-in investment opportunity to acquire a turn-key well performing asset in a strong Portland submarket. Subject property currently achieves gross monthly rents of $7,665 per month + 2023 utility reimbursements averaging ~$536 per month. Projected 2024 Effective Gross Income (EGI) of ~$96,553. Stabilized expense load of ~39% provides an Net Operating income of ~$58,712.
Features of 1035 Se 14th Ave
| MLS® # | 24185516 |
|---|---|
| Price | $1,050,000 |
| Units | 6 |
| Square Footage | 2,824 |
| Acres | 0.06 |
| Year Built | 1908 |
| Type | Multi Family |
| Status | Active |
Community Information
| Address | 1035 Se 14th Ave |
|---|---|
| Area | 143 - Portland Southeast |
| City | Portland |
| County | Multnomah |
| State | OR |
| Zip Code | 97214 |
Interior
| Heating | Wall Heater |
|---|---|
| Cooling | Wall Unit(s) |
| Fireplace | No |
| Has Basement | Yes |
| Basement | Finished |
Exterior
| Exterior | Cedar |
|---|---|
| Lot Description | Level |
| Roof | Composition |
School Information
| Elementary | Buckman |
|---|---|
| Middle | Hosford |
| High | Cleveland |
Additional Information
| Date Listed | February 29th, 2024 |
|---|---|
| Days on Market | 63 |
| Zoning | R2.5 |
| Short Sale | No |
| RE / Bank Owned | No |
| Cap Rate | 5.59 |
Unit 1 Details
| Beds | 1 |
|---|---|
| Baths | 1 |
| Rent | $1,450 |
| Features | Dishwasher, Range, Refrigerator, WoodFloors |
Unit 2 Details
| Beds | 1 |
|---|---|
| Baths | 1 |
| Rent | $1,295 |
| Features | Dishwasher, Range, Refrigerator, WoodFloors |
Unit 3 Details
| Beds | 1 |
|---|---|
| Baths | 1 |
| Rent | $1,345 |
| Features | Dishwasher, Range, Refrigerator, WoodFloors |
Unit 4 Details
| Beds | 1 |
|---|---|
| Rent | $925 |
| Features | Dishwasher, Range, Refrigerator, WoodFloors |
Unit 5 Details
| Beds | 1 |
|---|---|
| Baths | 1 |
| Rent | $950 |
| Features | Dishwasher, Range, Refrigerator, WoodFloors |
Unit 6 Details
| Beds | 2 |
|---|---|
| Baths | 1 |
| Rent | $1,775 |
| Features | Deck, Dishwasher, Refrigerator, WoodFloors |
Listing Details
| Office | Constant Commercial Real Estate Inc |
|---|---|
| Contact Info | 503-222-0282 |