2260 Everett St Portland, OR 97210-5532

Property Details for 2260 Everett St

Year built

1911

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.11 lot acres

Property size

20,475 SF

Zone code

RH

Property type

Apartment buildings

APN

1N1E33CA 03000

APU

1N1E33CA03000

Description

This exceptional 18-unit apartment building presents a compelling investment opportunity in Portland, Oregon's desirable Alphabet District. Built in 1911, this five-story structure boasts a total of 20,475 square feet, with 17,525 square feet of net rentable space. The property features a mix of one- and two-bedroom apartments, each averaging $974 in monthly rent, generating a substantial net operating income (NOI) of $173,012. This translates to a 5.05% capitalization rate and an attractive price per unit of $190,222. The asking price for this well-maintained building is $3,424,000, representing a price per square foot of $195. Situated on a 0.11-acre lot, the land value is calculated at $163.64 per acre. The building's prime location is a half block from the vibrant NW 23rd Avenue shopping and dining corridor, offering residents easy access to numerous restaurants, shops, and boutiques. Furthermore, the property enjoys close proximity to Forest Park and Washington Park, including renowned attractions such as the International Rose Test Garden and Portland Japanese Garden. This multifamily investment presents a rare opportunity to acquire a well-positioned asset in a thriving Portland neighborhood. The spacious units and strong rental income make this a highly attractive proposition for discerning investors.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Longitude

-122.698

Latitude

45.5247

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments