MLS# 23046275 – 2813 22nd Ave, Forest Grove, OR 97116 – John Wesley McPherson, Jr., The Portland Team

Listing courtesy of Keller Williams Sunset Corridor.

Property Description

Description

2 Units

Status: Active

Year Built: 1996

Days on Website: 237

BUILDING POTENTIAL: This premium duplex on 2813 22nd Ave stands as a testament to quality and potential. Spanning 2862 sqft, each single-level ranch-style unit offers 3 bedrooms, 2 baths, and a spacious kitchen, all laid on gleaming hardwood floors. The central heating and cooling system ensures year-round comfort. All new plumbing was recently installed throughout the whole building. Outdoors, each unit boasts a deck overlooking a huge privately fenced yard. A historic barn adds character, while the driveway and 2-car garage for each unit provide ample parking. Located just blocks from parks and the historic downtown of Forest Grove, the property's location is prime. But it's the future potential that truly sets this duplex apart. Set on a 0.72 acre lot zoned for RMH Medium-High Density Residential, there's a significant opportunity for expansion. Seller has plans already drawn up for an additional 5plex and city says there's potential for even more units, this isn't just a purchase; it's an investment with huge growth potential and a rare find. Buyer to do due diligence on zoning and building potential. Please do not disturb tenants. Ask about owner occupancy potential.

Property Details and Features

Income

CAP Rate:

4.81

Gross Income:

$48,050

Gross Rent Multiplier:

18.52

Gross Scheduled Income:

$49,800

Net Operating Income:

$42,778

Net Scheduled Income:

44528

Basement

Basement:

CrawlSpace

Building

Building Area Total:

2862

Built in 1996

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2

Cooling

Cooling Equipped

Cooling:

CentralAir

Expenses

Operating Expense Scheduled:

36840

Operating Expense:

$35,089

Exterior Features

Exterior Description:

VinylSiding,WoodSiding

Heating

Heating Available

Heating:

ForcedAir

Listing

Contract Status Change Date:

2023-09-07

Days On Market:

237

Last Transaction Date:

2023-10-04 09:42:44

List Price:

$890,000

Listing Contract Date:

2023-09-07

Listing Id:

23046275

Mls Status:

Active

Modification Timestamp:

2024-05-01 02:46:01

On Market Date:

2023-09-07

Rent Includes:

None

Standard Status:

Active

Location

MLS Area Major:

_152

County Or Parish:

Washington

Lot

Features:

FlagLot,Level

Size Range:

SqFt20000toAcres1

Size:

20,000 SqFt to .99 Acres

Parking

Features:

Garage,RVAccessParking

4 total parking spots

Property

Number Of Units Total:

Zoning:

RMH

Roof

Roof:

Composition

Schools

High School:

Forest Grove

Middle Or Junior School:

Neil Armstrong

Elementary School:

Fern Hill

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$7,688

Legal Description

Tax Year:

2022

Unit One

Actual Rent:

$2,100

Area:

1431

Features:

AirConditioning,Dishwasher,HardwoodFloors,WasherDryer

Units Total:

2 total bathrooms

3 total bedroom

Unit Two

Actual Rent:

$2,100

Area:

1431

Features:

AirConditioning,Dishwasher,HardwoodFloors,WasherDryer

Units Total:

2 total bathrooms

3 total bedroom

Utilities

Fuel Description:

Gas

Hot Water Description:

Gas

Water Source:

PublicWater

[+] Read More

Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$890,000 -

2813 22nd Ave Forest Grove , OR 97116

MLS Area Major: _152

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on May 1, 2024 1:45PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.