2305 130Th Ave Portland, OR 97233
- Commercial real estate
- 2,894 SF
- 0.22 lot acres
Current Use by Public Records
- Mayhemology Foundation of Fashion Designers / Fashion Designer
Property Details for 2305 130Th Ave
- Year built
- 1927
- Lot size
- 0.22 lot acres
- Property size
- 2,894 SF
- Property type
- Commercial real estate
- APN
- R143881
Description
This exceptional four-unit apartment building presents a compelling investment opportunity in Portland, Oregon. Completely renovated in 2023, this property boasts immaculate finishes and modern amenities. The two buildings, each two stories, offer a combined 2,894 square feet of net rentable space on a 0.22-acre lot. Each unit benefits from separately metered electricity, contributing to low holding costs. The property features a metal roof, low-maintenance landscaping, and a partially fenced yard with off-street parking. Currently operating at 100% occupancy since February 1st, 2024, the property generates a strong NOI of $60,534, with a pro-forma NOI of $64,134, resulting in a 6.80% cap rate and a pro-forma cap rate of 7.21%. The asking price is $890,000, translating to $222,500 per unit and $307.53 per square foot. Situated in a desirable location near Starbucks, shopping, schools, and with easy access to I-5 and public transportation, this property offers a blend of convenience and strong investment potential. The property is zoned Residential Multi-Dwelling 1 RM1 (HR2). Detailed financial documents, including rent comparables and building diagrams, are available upon request. The year built is 1927, with a complete renovation completed in 2023. Don't miss this chance to acquire a stabilized, high-demand multifamily property in a thriving Portland neighborhood.
Value Estimation
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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
- Multnomah
- State
- Oregon
- Longitude
- -122.530227
- Latitude
- 45.5056837
