Bought with Non Rmls Broker
$1,700,000
$2,200,000
22.7%For more information regarding the value of a property, please contact us for a free consultation.
13,514 SqFt
SOLD DATE : 09/05/2025
Key Details
Sold Price $1,700,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 13,514 sqft
Price per Sqft $125
MLS Listing ID 388817085
Sold Date 09/05/25
Year Built 1964
Annual Tax Amount $18,705
Tax Year 2024
Lot Size 0.690 Acres
Property Description
Great, 16 unit Gresham apartment complex with on site laundry and plenty of parking. Priced to sell at $137.5k per unit, you will find this property very competitive. Great occupancy history. Two units recently remodeled and several others greatly updated. Current Cap rate is low due to two units being empty for over a year caused by two separate water damage losses. With them finished and soon to be rented, the Cap rate should end up at 4.8 for 2025. NOT IN PORTLAND! This is a Gresham property with a Portland address. Don't be fooled! You are not bound by Portland rental requirements. Not all two bed nor one bed units rent for the same amount.
Location
State OR
County Multnomah
Community Alllandscaping, Laundry
Area _144
Zoning multifa
Rooms
Basement None
Interior
Heating Baseboard, Wall Heater
Exterior
Community Features AllLandscaping, Laundry
Roof Type Composition
Garage No
Building
Lot Description Corner Lot, Level, On Busline
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Patrick Lynch
Middle Schools Oliver
High Schools Centennial
Others
Acceptable Financing CallListingAgent, Cash, Conventional
Listing Terms CallListingAgent, Cash, Conventional
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8308 E. Mill Plain Blvd; Suite 103, Vancouver, WA, 98664