Investment Real Estate - Portland, Oregon - Property Detail

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NW 18th Triplex

https://www.josephbernard.net/nw-18th-triplex

Address:: 525-529 NW 18th Ave, Portland, Oregon 97209

Price:: $1,270,000

Units:: 3

Price per unit:: $423,333

Cap Rate:: 14.89 (GRM)

Year Built:: 1979

Highlights

Low and realistic expenses for urban triplex
Highly desirable, walkable location
Washer/dryer in each unit
Off-street, on-site parking
Approximately $60,000 of upgrades to 3 BD unit
Nearly $20,000 of exterior upgrades (paint, landscaping, etc.)
Turnkey property with all major systems in good condition
One vacant unit - opportunity for owner occupant

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NW 18th Triplex

Summary

This centrally located triplex on NW 18th and Hoyt is the perfect place for an investor or owner to acquire a piece of Portland’s perennially popular Alphabet District, near Couch Park, trendy 23rd Avenue and the Pearl District. The property consists of 2, two-bedroom units and 1, three-bedroom unit, each with a washer & dryer. Secluded off the main street, private parking is available for each unit, and there is a shared Japanese garden in the yard. Units have all undergone updates, with the large three-bedroom unit receiving updated hardwoods, new carpet, a luxury kitchen with SS appliances, remodeled bathrooms and more. Don’t miss out on this opportunity to own a great investment property in the heart of one of Portland’s most popular and walkable neighborhoods.