4738 SE Belmont St Portland, OR 97215

Property Details for 4738 SE Belmont St

Year built

2023

Lot size

0.12 lot acres

Property size

11,473 SF

Zone code

C2

Property type

Apartment buildings

APN

1S2E06BA 12100

APU

1S2E06BA12100

Description

This exceptional new construction mixed-use property in Portland's desirable Belmont neighborhood presents a compelling investment opportunity. The building, completed in 2022, boasts 20 units: fifteen studios with one bathroom and four one-bedroom, one-bathroom apartments. A significant 1,124 square foot retail space, leased on a triple net (NNN) basis, adds further income potential. The building's total square footage is 9,690, situated on a lot ranging from 5,000 to 6,999 square feet. High-quality finishes, including sleek custom cabinetry and stainless steel appliances, are featured throughout the apartments, complemented by in-unit washers and dryers and a bike rack. The property benefits from a 15-year rent control exemption and enjoys a prime location, just 0.6 miles from Laurelhurst Park and within easy walking distance of Hawthorne's vibrant shops and restaurants. The property's strong financial performance is reflected in its 5.61% cap rate and a net operating income (NOI) of $280,305. The asking price is $4,999,800, resulting in a price per square foot of $515.98. The building is a fee-simple ownership and features three stories. High walkability and bikeability scores (WalkScore 89, BikeScore 97) further enhance its appeal. This is a stabilized investment with a strong tenant base.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Longitude

-122.614

Latitude

45.5164

CBSA code

38900

CBSA name

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

Property Tax & Assessments