MLS# 23347982 – 2914 Se 52nd Ave, Portland, OR 97206 – John Wesley McPherson, Jr., The Portland Team

Listing courtesy of Coldwell Banker Bain.

Property Description

Description

3 Units

Status: Active

Year Built: 1915

Neighborhood: Richmond South Tabor

Days on Website: 225

This rare mixed-used multi unit commercial residential property is on an ample sized 59' by 100' corner lot zoned CR in the desirable Richmond / South Tabor with 7.6% cap rate (up to 12.1%). It is directly on the Clinton/Woodward Greenway bike route next to Franklin High School in a friendly, tight knit tree-lined residential neighborhood. Only a short walk to parks and nearby Division and Powell restaurant and shopping. The front commercial unit is a charming renovated retail space (rented) with a 30'L x 7'6H glass window store frontage and half bath, great for any retail, professional office or food services. The location has good flow of both vehicle and foot traffic. It also comes with a 500+ sq/ft semi-finished basement with both interior and exterior access. The recently vacated residential unit consists of 2 bedrooms, living and dining rooms, full bath, in-unit washer/dryer and storage space throughout. The covered patio is perfect for hosting a cookout in any weather, and connects to the spacious upper back yard. A newly renovated coffee window or office studio opens to the expansive lower side yard now hosting a food cart for additional income stream. Don't miss the great redevelopment opportunity associated with this property. It's zoned CR 1:1 FAR, which allows multi-units up to 5,900 sq ft. The property is eligible for residential loan. This is a great income and investment asset. Perfect for a live/work, or to use one unit and rent the other. Recent renovations include store interior, patio, landscaping, paint, basement, fence, coffee window/ office and much more. Conceptual design for future development is included. Walk score 89, Transit score 52, Bike Score 98!!! Businesses are not for sale and the Broker is part owner of the property. Please note 3D walk through is only showing the residential unit.

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

ExteriorEntry,PartialBasement,StorageSpace

Building

Building Area Total:

1600

Built in 1915

Storage:

Basement,Locked

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3

Community

Neighborhood Features:

Tree Lined, School, Closed in

Cooling

Cooling Equipped

Cooling:

WindowUnit

Expenses

Operating Expense Scheduled:

5000

Operating Expense:

$5,000

Exterior Features

Exterior Description:

TongueandGroove,VinylSiding,WoodSiding

Foundation

Foundation Details:

ConcretePerimeter,Other,PillarPostPier

Heating

Heating Available

Heating:

ENERGYSTARQualifiedEquipment

Income

CAP Rate:

7.59

Gross Income:

$61,800

Gross Rent Multiplier:

12.1

Gross Scheduled Income:

$63,000

Net Operating Income:

$56,800

Net Scheduled Income:

58000

Listing

Contract Status Change Date:

2023-09-19

Days On Market:

225

Last Transaction Date:

2024-04-29 17:19:02

List Price:

$748,000

Listing Contract Date:

2023-09-19

Listing Id:

23347982

Mls Status:

Active

Modification Timestamp:

2024-05-01 02:46:01

On Market Date:

2023-09-19

Rent Includes:

None

Standard Status:

Active

Location

Distance To Bike Path:

2.00 miles

Distance To Bus:

0.01 miles

Distance To Public Park:

0.10 miles

Distance To Shopping:

0.50 miles

MLS Area Major:

_143

Subdivision Name:

RICHMOND SOUTH TABOR

County Or Parish:

Multnomah

Lot

Features:

CornerLot,OnBusline,Trees

Size Range:

SqFt5000to6999

Size:

5,000 to 6,999 SqFt

Miscellaneous

Investor Information:

Leases,RentRecords,TaxReturnsAvailable,UtilityRecordsAvailable

Parking

Features:

Open

4 total parking spots

Possession

Possession:

Negotiable

Property

Number Of Units Total:

Property Condition:

UpdatedRemodeled

Zoning:

Roof

Roof:

TarGravel

Schools

High School:

Franklin

Middle Or Junior School:

Mt Tabor

Elementary School:

Atkinson

Security Features

Features:

SecurityLights

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$2,399

Legal Description

Tax Year:

2022

Unit One

Actual Rent:

$1,675

Area:

950

Features:

HardwoodFloors,Range,Storage,WasherDryer

Units Total:

1 total bathroom

2 total bedroom

Unit Two

Actual Rent:

$2,000

Area:

650

Features:

AirConditioning,Storage,WindowCoverings,WoodFloors

Units Total:

1 total bathroom

1 total bedroom

Unit Three

Actual Rent:

$1,500

Area:

800

Features:

Storage

Units Total:

Utilities

Fuel Description:

Electricity

Hot Water Description:

Electricity,Gas

Internet Service Type:

Cable,DSL

Water Source:

PublicWater

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$748,000 - Br/Ba - for Sale in Richmond South Tabor, Portland

Virtual Tour

Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$748,000 -

2914 Se 52nd Ave Portland , OR 97206

Distance To Bike Path: 2.00 miles

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on May 1, 2024 10:48PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.