919 7th St Oregon City, OR 97045-2300

Property Details for 919 7th St

Property type

Commercial real estate

APN

22E31AD05000E2

APU

22E31AD05000E2

Description

This remarkable 13,384 square foot mixed-use building in Oregon City, Oregon, presents a compelling investment opportunity. Built in 1905 and registered as a historical landmark, the four-story property boasts a current NOI of $125,537 and an 8.97% cap rate, with a pro-forma NOI of $152,623 and a pro-forma cap rate of 9.50%. Currently, 75% occupied, the building offers significant upside potential. The second floor, approximately 4,837 square feet, is leased to a non-profit organization, providing 13 bedrooms, 5.1 bathrooms, and 4 kitchens, and benefiting from discounted property taxes. The first floor, approximately 4,522 square feet, comprises three retail spaces and one apartment, with one tenant occupying two spaces, generating a substantial $14,642 in monthly income from these two floors alone. A vacant basement (approximately 3,230 square feet) offers considerable expansion potential, including existing office space and open areas. Additionally, a vacant top floor (approximately 796 square feet) provides further expansion opportunities. The property has undergone significant recent improvements, including a new roof (2020), fire sprinkler system (2020-2023), plumbing upgrades (2023), sewer line replacement (2023), basement waterproofing (2023), foundation post upgrades (2023), a new building water heater (2020), and first-floor HVAC upgrades (2019 and 2021). The asking price is $1,399,900, representing a price per square foot of $104.60. This property offers a unique blend of historical charm and modern functionality, making it an ideal investment for discerning buyers. APN: 00574701, 05033019.