MLS# 23166503 – 5821 Se Knapp St, Portland, OR 97206 – John Wesley McPherson, Jr., The Portland Team

Listing courtesy of The Alpine Group, Inc..

Property Description

Description

4 Units

Status: Active

Year Built: 1942

Neighborhood: Brentwood - Darlington

Days on Website: 218

Welcome to this updated 4-plex (2 duplexes on same tax lot), ideally situated in the sought-after Brentwood-Darlington neighborhood. This property boasts four individual 2-bedroom, 1-bathroom units, individually fenced back yards, and each carefully upgraded to meet modern living standards. With a 5.0 Cap rate and a competitive 13.41 gross rent multiplier, this investment opportunity offers both promising returns and a solid financial foundation.Features include: Prime Location: Nestled in the desirable Brentwood-Darlington neighborhood, this property enjoys close proximity to schools, parks, shopping, dining, and public transportation. Tenants will appreciate the convenience of city living with a suburban feel.Professional Management: This investment property is professionally managed, ensuring hassle-free ownership and consistent cash flow. Sit back and watch your investment thrive.On-Site Laundry: Tenant convenience is a priority. With on-site laundry facilities, you'll attract and retain quality tenants who appreciate the added convenience.Strong Financials: With a Cap rate of 4.88 and a gross rent multiplier of 13.88, this property stands as a lucrative investment opportunity with potential for continued appreciation.The property is currently fully leased so please respect the current tenant's privacy.Don't miss out on this exceptional investment opportunity! Whether you're a seasoned investor looking to expand your portfolio or a first-time investor seeking a hassle-free income stream, this 4-plex is a must-see!!!

Property Details and Features

Unit Two

Units Total:

Actual Rent:

$1,412

Area:

500

Features:

Dishwasher,Disposal,Microwave,Refrigerator

1 total bathroom

2 total bedroom

Unit Four

1 total bathroom

2 total bedroom

Actual Rent:

$1,433

Area:

500

Features:

Dishwasher,HardwoodFloors,Microwave,Refrigerator

Units Total:

Property Access

Road Surface Type:

Gravel,Paved

Basement

Basement:

CrawlSpace

Building

Building Area Total:

2000

Built in 1942

Storage:

None

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4

Expenses

Operating Expense Scheduled:

18950

Operating Expense:

$18,957

Exterior Features

Exterior Description:

Cedar

Heating

Heating Available

Heating:

WallFurnace

Income

CAP Rate:

5.02

Gross Income:

$67,044

Gross Rent Multiplier:

13.41

Gross Scheduled Income:

$72,000

Net Operating Income:

$45,101

Net Scheduled Income:

50000

Listing

Contract Status Change Date:

2023-09-26

Days On Market:

217

Last Transaction Date:

2024-03-19 11:33:03

List Price:

$899,000

Listing Contract Date:

2023-09-26

Listing Id:

23166503

Mls Status:

Active

Modification Timestamp:

2024-03-19 11:33:03

On Market Date:

2023-09-26

Previous List Price:

$925,000

Rent Includes:

Gas,TrashCollection,Water

Standard Status:

Active

Location

MLS Area Major:

_143

Subdivision Name:

BRENTWOOD - DARLINGTON

County Or Parish:

Multnomah

Lot

Features:

Level

Size Range:

SqFt5000to6999

Size:

5,000 to 6,999 SqFt

Miscellaneous

Investor Information:

AnnualPropertyOperationData,Leases,ProfitLossStatement,RentRecords

Parking

Features:

Open

4 total parking spots

Possession

Possession:

SubjectToTenantRights

Property

Number Of Units Total:

Property Condition:

UpdatedRemodeled

Zoning:

Roof

Roof:

Composition

Schools

High School:

Franklin

Middle Or Junior School:

Lane

Elementary School:

Whitman

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$6,974

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$1,425

Area:

500

Features:

Dishwasher,Disposal,Microwave,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Unit Three

Actual Rent:

$1,355

Area:

500

Features:

Dishwasher,Disposal,Microwave,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Utilities

Fuel Description:

Electricity

Hot Water Description:

Electricity,Tank

Water Source:

PublicWater

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$899,000 - Br/Ba - for Sale in Brentwood - Darlington, Portland

Virtual Tour

Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$899,000 -

5821 Se Knapp St Portland , OR 97206

MLS Area Major: _143

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.