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2815 Se 87th Ave, Portland, OR 97266

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For Sale

$950,000

4,992 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $190.30
    Price per square foot

  • 21-30 Years Old
    Age

Explore this Property

Prime SE 4-Plex - Income-Generating or Owner-Occupant OpportunityBuilt in 2000 and family-owned since construction, presents a unique investment opportunity in the highly desirable Montavilla neighborhood. Whether you re a seasoned investor looking for a reliable income-producing property or a potential owner-occupant seeking to live in one unit while generating rental income from the others, this property offers significant potential. Situated between Division St and Powell Blvd., in the Powellhurst-Gilbert, this property is ideally located near shops,restaurants, and public transportation, ensuring high tenant demand and consistent occupancy. Each unit features a spacious 3-bd, 2.5-bath townhome-style floor plan. The property generates a gross annual income of $95,040, with net income potential of $73,510 after operating expenses, including property taxes, insurance, and estimated costs for water, sewer, and garbage services. Each unit is approximately 1,200 square feet, offering modern layouts, garages, and additional parking to meet tenants' needs. Recent improvements, including a roof less than 10 years old, HW floor, and kitchen and furnace update minimize future maintenance costs, preserving long-term value. With reliable tenants and stable rental income, this 4-plex produces $7,920 in monthly rental income, making it an excellent turnkey investment in a busy close in neighborhood.For investors, this property offers an approx. Cap Rate of 6.39%, making it a favorable opportunity in a high-demand market. For owner-occupants, the ability to live in one unit while generating rental income from the other three presents an appealing option to significantly offset mortgage payments. We invite serious buyers to request a detailed financing sheet for more in-depth financials. Offers should be made subject to interior inspection. This is a rare chance to acquire an income-generating property with a favorable Cap Rate.
MLS# 24364029

Courtesy Of EXP REALTY LLC

(888) 814-9613

Property Features

  • Age
    21-30 Years Old
  • Amenities
    Dock
  • Architecture Style
    Other
  • Heating System
    Forced Air
  • Lot Size
    0.29 Acres

Map and Directions

Directions to 2815 Se 87th Ave, Portland, OR 97266

Home seller CENTURY 21 Northstar

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Northstar

(503) 297-1014
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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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