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NE 80th Avenue 9 Units

NE 80th Avenue 9 Units

https://www.josephbernard.net/NE-80th-9-Units
Address:
2150-2208 NE 80th Avenue, Portland, Oregon 97213
Price:
$877,500
Units:
9
Price per unit:
$97,500
Cap Rate:
4.58%
Year Built:
1958

Highlights

  • Two Tax Lots (4 Unit and 5 Unit)
  • Immediate Rental Upside
  • One Block from Rose City Golf Course
  • Single Level
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NE 80th Avenue 9 Units

Summary

Opportunity to own a building with 1950’s charm, comprised of large 2BR units just a block from Rose City Golf Course.  All units are single level, and the units are situated on two tax lots (Four-Plex & Five-Plex) to provide flexibility down the road for a future owner.  The property presents an investor with strong upside opportunity with current rents in place well below market.  The latest re-rent in the building in April 2015 rented for $1,049.  Various upgrades throughout the past few years, and a great opportunity for a buyer with a strong management system in place to capitalize on this improving sub-market.     

Highlights

  • Two Tax Lots (4 Unit and 5 Unit)
  • Immediate Rental Upside
  • One Block from Rose City Golf Course
  • Single Level
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NE 80th Avenue 9 Units

This property is in the Madison South Neighborhood in Northeast Portland. Residents of Madison South enjoy immediate access to great urban hiking on Rocky Butte and inexpensive dining and entertainment on NE 82nd Avenue, the community’s western border. Madison South is located in Northeast Portland. It is bordered by the Roseway, Sumner,Cully, Parkrose, Montavilla, Rose City Park, and Maywood Park neighborhoods. The neighborhood roughly conforms to the boundaries of Interstate 84 to the south, Interstate 205 to the east, Rose City Golf Course to the north, and 65th Avenue to the west.

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NE 80th Avenue 9 Units

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NE 80th Avenue 9 Units

Document Title Document Type
Property Flyer Adobe PDF
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NE 80th Avenue 9 Units

Phillip Barry
pbarry@josephbernard.net
Joseph Bernard, LLC
5200 SW Macadam Avenue
Suite 300
Portland, Oregon 97239
503.546.9390 Main
866.546.9390 Toll Free
503.546.9395 Fax