8541 Russell St Portland, OR 97220
- Commercial real estate
- 2,904 SF
Current Use by Public Records
- Commercial real estate
Property Details for 8541 Russell St
- Year built
- 2001
- Property size
- 2,904 SF
- Property type
- Commercial real estate
- APN
- R211195
Description
This exceptional 3-unit apartment building in Portland, Oregon presents a compelling investment opportunity. Located at 8541 NE Russell St, this 2-story, 2001-built property boasts a total of 2,904 square feet and offers a strong 5.40% cap rate with a Net Operating Income (NOI) of $37,795. The asking price is $700,000, translating to $241.05 per square foot and $233,333 per unit. The property comprises three units: two 2-bedroom, 1.5-bathroom units and one 2-bedroom, 1-bathroom unit with a den. Each unit features approximately 950 square feet of living space, including modern kitchens equipped with dishwashers, microwaves, refrigerators, and garbage disposals. In-unit laundry and attached garages add to the appeal. The property benefits from a homeowner's association (HOA) that covers management, basic landscaping, and trash services, streamlining expenses for the owner. The convenient location offers easy access to public transportation (MAX and bus lines) and freeways. This property is ideal for both investors seeking a strong return and owner-occupiers looking for a multi-family income-generating asset. The property's features include forced-air heating and fireplaces. The Multnomah County property (APN R211195) is classified as a Class C Core investment.
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
- -122.57414015617
- Latitude
- 45.540876192091
