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    2610-2618 Clackamas St Portland, OR 97232

    For Sale
    $900,000

    Five-unit apartment building, strong NOI.

    Property size:
    3,436 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    Investor opportunity awaits with Cascade Crest, a well-located five-unit apartment building in Portland, Oregon. This charming, two-story Class C property, built in 1969 and situated on a 5,000 square foot lot at 2610-2618 NE Clackamas St, 97232, offers a total of 3,436 square feet of net rentable space. The building comprises four one-bedroom units and one four-bedroom unit, all featuring in-unit laundry. Recent updates have been made to kitchens and bathrooms in several units. Off-street parking is available for residents. The property boasts a strong net operating income (NOI) of $53,700, resulting in a 5.90% cap rate. The asking price is $900,000, translating to $180,000 per unit and $261.93 per square foot. Expenses include full property management, simplifying ownership. Significant rental upside potential exists, with opportunities to increase rents substantially in 2024. This is an excellent opportunity for investors seeking a stable, income-generating asset with potential for future growth in a desirable Portland location. The property is owned by an LLC.

    Property Features for 2610-2618 Clackamas St

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,436 SF
    Class
    C

    Building Details

    Year Built
    1969
    Buildings
    1
    Stories
    2
    Units
    5

    HighLights

    • Property managed for ease of ownership.
    • Significant rental upside potential in 2024.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.63879432919
    Latitude
    45.532878050867

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    FAQs

    What type of property is this?
    Multifamily property - Five-unit apartment building, strong NOI.
    Where is this multifamily property located?
    The property is located at 2610-2618 Clackamas St Portland, OR.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: Property managed for ease of ownership.; Significant rental upside potential in 2024.;
    Request Owner's contact information
    2610-2618 Clackamas St Portland, OR 97232
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2610-2618 Clackamas St Portland, OR 97232
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