SW 35th Apartments is a fully rehabbed 7-unit asset within walking distance to the desirable Multnomah Village. The property is comprised of six (6) 2 bed / 1.5 bath 1,135 square foot units and one (1) 4 bed / 2 bath 1,563 square foot detached house with a garage and private back yard. All units feature private patios and have been rehabbed with new roofs, LVP flooring, quartz countertops, interior/exterior paint, bathroom & kitchen cabinets, stainless gas appliances, mini splits and washer/dryer's in-unit. Both buildings are on two contiguous tax lots. 2 sheds on site provide extra opportunity for storage income or owner/manager space. Subject property is more then 50% through the lease up stage since the rehab. Projected monthly rents estimated at $17,680 on currently achieved figures. Effective Gross Income of $208,692 with a 29% expense load provides a projected Net Operating Income of $147,689. Water/Sewer is billed-back to tenants. Tenants pay electrical and gas. Landlord pays garbage. SW 35th Apartments features close proximity to neighborhood amenities, Multnomah village and downtown Portland and wonderfully supplements any Portfolio.
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