17350-17360 Pine St Portland, OR 97233
- Mixed-use properties
- 0.59 lot acres
Current Use by Public Records
- Mixed-use properties
Property Details for 17350-17360 Pine St
- Lot size
- 0.59 lot acres
- Property type
- Mixed-use properties
Description
This exceptional mixed-use property, located at 17350-17360 SE Pine St, Gresham, Oregon 97233, presents a compelling investment opportunity. The 0.59-acre lot houses six single-level, duplex-style units, each boasting a 2-bedroom, 1-bathroom floor plan. Each unit includes a dedicated attached garage, in-unit washer/dryer hookups, a fireplace, and a private back patio. These spacious and functional units attract a diverse tenant base, resulting in historically stable occupancy and strong rental income. As of August 2024, the average monthly rent is $1,461, providing a solid foundation for immediate returns. However, the property also offers significant upside potential through lease renewals and future rent increases. Situated in the Rockwood neighborhood of Gresham, this property benefits from a dynamic and diverse community with a mix of residential and commercial amenities. Rockwood has experienced substantial recent development and investment, improving infrastructure and overall quality of life. This quiet, residential setting ensures a strong and stable tenant base, minimizing operational challenges. The asking price of $900,000 represents a rare chance to acquire a small apartment community with strong existing income and considerable value-add potential. This is a unique opportunity to capitalize on a desirable location and a proven rental history in a thriving neighborhood.
Value Estimations
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- 41051
- State
- Oregon
- Longitude
- -122.484
- Latitude
- 45.5202
