Investment property for sale near George Fox Univ. and Willamette River. Built in 1997 and well maintained. Improvements this yr include interior paint (including ceilings), fence separating adj. property, entry decks, blinds, and bar counters. Rents very easily; 100% occupied. Rents are low for 2 full bth units. 4 units w 2 bdrm and 2 full bth/ unit. Split level w 1 extended/attached garage/unit. Eligible for fixed rate conventional loan. Gross Rents = $43,200/yr Expenses (including prop tax/ins) = $13,600/ yr Net Return = $29,600/yr Loan Example: 30 yr note @ fixed 3.5% with 25% down Loan Amt = $396,750 Mortgage = $1781.58/mo or $21,378.96/yr Property is easy to self manage, pays for self, and still nets an annual return of $8,221/yr.
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