4881 63Rd Ave Portland, OR 97206
- Residential income homes
- 3,464 SF
Current Use by Public Records
- Residential income homes
Property Details for 4881 63Rd Ave
- Year built
- 2023
- Property size
- 3,464 SF
- Property type
- Residential income homes
- Property subtype
- Dormitories
Description
This exceptional new construction fourplex, completed in 2023, presents a compelling investment opportunity in Portland's desirable Mt. Scott-Arleta neighborhood. Boasting a total of 3,464 square feet across four units, each unit offers a spacious 844-888 square feet of living space, featuring two bedrooms and one and one-half bathrooms. The property benefits from a 100% occupancy rate, generating a strong net operating income (NOI) of $70,852, resulting in a 4.72% cap rate. High-end finishes throughout include modern cabinetry, slab counters, extensive tile backsplashes, and stainless steel appliances. Each unit also features in-unit washer/dryer hookups and a private, fenced patio. The building's prime location offers a phenomenal 99 BikeScore and 90 WalkScore, placing residents within easy walking distance of restaurants, shops, and coffee houses, and just 0.2 miles from Laurelwood Park. Additional benefits include a one-year builder warranty and a fifteen-year rent control exemption, minimizing maintenance and maximizing long-term value. The property sits on a lot sized between 3,000 and 4,999 square feet and is priced at $1,499,900, or $374,975 per unit, and $433 per square foot. This fully leased and stabilized property offers a rare combination of modern luxury, strong financial performance, and a highly sought-after location.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.598
- Latitude
- 45.4874
