MLS# 23074586 – 18211 Indian Creek Dr, Lake Oswego, OR 97035 – John Wesley McPherson, Jr., The Portland Team

Listing courtesy of Keller Williams Realty Portland Premiere.

Property Description

Description

2 Units

Status: Pending

Year Built: 1973

Neighborhood: Bryant Woods

Days on Website: 188

Fabulous and rare duplex in Lake Oswego's desirable Bryant Woods neighborhood. Each unit offers 3 Bedrooms, 1 Full Bath and 1,102 sq feet of living space including a wood burning fireplace with a detached 1 car garage. Great investment opportunity or Live-In one side and receive income from the other. In 2017, the roof and gutters were replaced and the exterior repainted. Both units have been replumbed. Photos with vacant rooms are of 18211 (Unit 2), which was tastefully renovated in 2016/2017, including completely new kitchen with custom cabinetry with a tile backsplash as well as an LVT floor with Bamboo look, new carpet in bedrooms, new appliances, removal & abatement of original popcorn ceiling and a new Cedar deck. Photos of furnished rooms are of 18213 (Unit 1)which has had more limited updates including newer kitchen appliances and newer paint in kitchen and bath. It has been rented to the same tenant for 20+ years and is rented for significantly less than market value. Sellers estimate it would rent for a minimum of $1800 with minimal updates. Both units have fully fenced backyards. Both units have tenants on month to month leases. With access to a neighborhood pool, the Lake Grove swim park, extensive walking trails, adjacent to Lakeridge Middle School and a short distance from the new River Grove Elementary school the location is unbeatable.

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

CrawlSpace

Building

Building Area Total:

2204

Built in 1973

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2

Community

Community Features:

Commons,Pool

Cooling

Cooling:

None

Disclosures

Disclosures:

Disclosure

Expenses

Operating Expense Scheduled:

13000

Operating Expense:

$12,890

Exterior Features

Exterior Description:

WoodSiding

Heating

Heating Available

Heating:

WallFurnace

Income

CAP Rate:

3.34

Gross Income:

$39,600

Gross Rent Multiplier:

20.18

Gross Scheduled Income:

$48,600

Net Operating Income:

$26,710

Net Scheduled Income:

36054

Listing

Contract Status Change Date:

2024-03-14

Cumulative Days On Market:

140

Days On Market:

140

Last Transaction Date:

2024-03-15 11:15:06

List Price:

$799,000

Listing Contract Date:

2023-10-26

Listing Id:

23074586

Mls Status:

Pending

Modification Timestamp:

2024-03-15 11:15:06

Off Market Date:

2024-03-14

On Market Date:

2023-10-26

Previous List Price:

$825,000

Purchase Contract Date:

2024-03-14

Rent Includes:

MaintenanceGrounds

Standard Status:

Pending

Location

MLS Area Major:

_147

Subdivision Name:

Bryant Woods

County Or Parish:

Clackamas

Lot

Features:

Level,Private

Size Range:

SqFt10000to14999

Size:

10,000 to 14,999 SqFt

Miscellaneous

Investor Information:

AccordingToOwner

Parking

Features:

Detached

2 total parking spots

Possession

Possession:

SubjectToTenantRights

Property

Number Of Units Total:

Property Condition:

Restored

Zoning:

R7.5

Roof

Roof:

Composition

Schools

High School:

Lakeridge

Middle Or Junior School:

Lakeridge

Elementary School:

River Grove

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$6,664

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$1,150

Area:

1102

Features:

Dishwasher,Fireplace,Range,WasherDryer

Units Total:

1 total bathroom

3 total bedroom

Unit Two

Actual Rent:

$2,150

Area:

1102

Features:

Deck,Dishwasher,Fireplace,WasherDryer

Units Total:

1 total bathroom

3 total bedroom

Utilities

Fuel Description:

Electricity

Hot Water Description:

Electricity

Water Source:

PublicWater

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$799,000 - Br/Ba - for Sale in Bryant Woods, Lake Oswego

Virtual Tour

Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$799,000 -

18211 Indian Creek Dr Lake Oswego , OR 97035

MLS Area Major: _147

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on May 1, 2024 11:45AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.