Built 2000, this wonderful multifamily property is a unique turn-key investment property located in northeast Portland, OR. The building has recent improvements and low maintenance needs. With a sound CAP rate, strong rental history and great cash flow, the investment is certainly worth consideration. Each of the four units have two bedrooms, a gas fireplace, and a private garage. They also come with all kitchen appliances as well as in-unit washing machines and dryers. * * * * The location is ideal for many renters as it is one block from Madison high school (scheduled to reopen 2021 after remodels), and is near other schools, Highway 84 and 205, MAX rail, and restaurants. Monthly rents total $5600, and all four units are in their first year of one-year leases. HOA dues of $504/month cover full rental property management, garbage & landscaping. Tenants pay all utilities except for garbage. Contact listing agent (503-233-4592) to request APOD with comparison to condo scenarios. The calculated CAP rate of 5.98% includes both the property management fees and a 10% annual maintenance expenditure. * * * * Please note, all photos and 3D tour are of units A & C recently renovated, prior to being rented again. * * * * No private showings available at this time due to pandemic. Please do not disturb tenants. * * * * Matterport 3D Virtual Reality Tour:* Unit A: https://my.matterport.com/show/?m=x9izFfiYCTg&brand=0 Unit C: https://my.matterport.com/show/?m=146vWAcovEx&brand=0
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