MLS# 23502095 – 5215 Se Division St, Portland, OR 97206 – John Wesley McPherson, Jr., The Portland Team

Listing courtesy of Coldwell Banker Bain.

Property Description

Description

2 Units

Status: Pending

Year Built: 1972

Neighborhood: South Tabor

Days on Website: 175

Investor's Dream! Over $110k in improvements!!!!! Ultra low maintenance income property. Charming designer duplex in South Tabor/Richmond neighborhood right on the SE Division bus line, a short walk or drive to everything and everywhere in Portland. Great income or 1031 exchange property with terrific long-time 11+ year tenants in one unit. Very rare large square footage, each unit is on 2 levels and features 3 bedroom + 1 bath configuration with lovely fireplaces, in-unit laundry and easy flowing floorplan with dining area, living room and additional family/bonus room for entertaining. Private outdoor patio spaces are great for relaxation, grilling and planting. Each unit also features an attached single garage plus driveway parking for an additional vehicle. Both units recently went through complete remodel with brand new two toned kitchens, appliances, baths, paint inside and out, shades, front siding, garage doors and openers, hardware and much more. 5215 is vacant and in impeccable condition, available for tours and immediate owner occupancy or new tenants. 5217 is occupied, and tours of the unit will be made available to buyers with written offers. Comes with all appliances, profitable rent roll and everything for you to be a successful landlord or occupying owner. Possible to convert and add another 1 bedroom unit for AirBNB. The block is ripe for big redevelopment in 5-10 years. Walk and Bike scores are both at 92!!!

Property Details and Features

Property Access

Road Surface Type:

Concrete,Paved

Basement

Basement:

Daylight,ExteriorEntry,Finished

Building

Building Area Total:

3200

Built in 1972

Storage:

Garage

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2

Cooling

Cooling:

None

Expenses

Operating Expense Scheduled:

10000

Operating Expense:

$12,000

Exterior Features

Exterior Description:

Brick,MetalSiding,Plywood,ShingleSiding,WoodComposite,WoodSiding

Foundation

Foundation Details:

Block,ConcretePerimeter,Slab

Heating

Heating Available

Heating:

Baseboard

Income

CAP Rate:

5.45

Gross Income:

$55,560

Gross Rent Multiplier:

14.4

Gross Scheduled Income:

$64,800

Net Operating Income:

$43,560

Net Scheduled Income:

54800

Listing

Contract Status Change Date:

2024-04-12

Cumulative Days On Market:

156

Days On Market:

156

Last Transaction Date:

2024-04-25 11:48:52

List Price:

$799,999

Listing Contract Date:

2023-11-08

Listing Id:

23502095

Mls Status:

Pending

Modification Timestamp:

2024-05-01 02:46:01

Off Market Date:

2024-04-12

On Market Date:

2023-11-08

Purchase Contract Date:

2024-04-12

Rent Includes:

None

Standard Status:

Pending

Location

MLS Area Major:

_143

Subdivision Name:

SOUTH TABOR

County Or Parish:

Multnomah

Lot

Features:

OnBusline,Trees

Size Range:

SqFt3000to4999

Size:

3,000 to 4,999 SqFt

Miscellaneous

Investor Information:

AccordingToOwner,Leases,RentRecords,TaxReturnsAvailable

Energy Saving

Energy Efficiency Features:

DoublePaneWindows,ENERGYSTARQualifiedAppliances

Parking

Features:

Attached,Garage

5 total parking spots

Possession

Possession:

SubjectToTenantRights

Property

Number Of Units Total:

Property Condition:

UpdatedRemodeled

Zoning:

RM1

Roof

Roof:

TarGravel

Schools

High School:

Franklin

Middle Or Junior School:

Mt Tabor

Elementary School:

Atkinson

Second Elementary School:

Richmond

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$7,997

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$2,575

Area:

1650

Features:

Fireplace,HardwoodFloors,Range,WasherDryer

Units Total:

1 total bathroom

3 total bedroom

Unit Two

Actual Rent:

$2,200

Area:

1550

Features:

Fireplace,HardwoodFloors,Range,WasherDryer

Units Total:

1 total bathroom

3 total bedroom

Utilities

Fuel Description:

Electricity

Hot Water Description:

Electricity,Tank

Internet Service Type:

Cable,DSL

Water Source:

PublicWater

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$799,999 - Br/Ba - for Sale in South Tabor, Portland

Virtual Tour

Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$799,999 -

5215 Se Division 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 12:46PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.