1115 1117 N Beech ST Active Save Request In-Person Tour Request Virtual Tour
Portland,OR 97227
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,146 sqft
Price per Sqft $278
Subdivision Boise
MLS Listing ID 190351402
Year Built 1909
Annual Tax Amount $3,016
Tax Year 2024
Property Description
POTENTIALLY TWO ASSETS: The duplex alone is valued at $650K-$700K. With current rents, the CAP RATE is over 6%! Split the lot & sell (valued at $250K-$300K) for instant equity conversion, or develop separately. This is a true TURN-KEY investment in the hot N Mississippi Neighborhood. Owner Occupant Buyers can enjoy the huge, private lot now & unlock the development opportunities later. Updated systems throughout are an owner/tenant win-win: Updated kitchens & baths, double-pane windows & efficient mini-split HVAC for heating and cooling = happy tenants year-round. Excellent rental history, and low-turnover for the last 20+ years. Each unit has 3 bedrooms + 1 bath. Exterior entry into the basement (w/ 7-ft ceilings) could be explored as TRIPLEX potential. 2 blocks west of a thriving, diverse commercial district, containing event spaces, shopping, dining and services. 2 blocks south of a Pedestrian Bridge that crosses into Overlook - MAX line, more parks, dining, etc. Easy access in all directions to parks, libraries, transit & freeways. 9 min drive to Downtown PDX. Currently a 9,000 SF corner lot with alley access = INCREDIBLE DEVELOPMENT POTENTIAL up to 9 UNITS! Check out Lot/Land listing #317438603. Builder's Packet available upon request. Buyer to do their due diligence. Tenant Occupied -- PLEASE DO NOT DISTURB.
Location
State OR
County Multnomah
Community Alllandscaping,Laundry
Area _141
Zoning RM1
Interior
Heating Ductless, Mini Split, Wall Heater
Cooling Mini Split
Exterior
Community Features AllLandscaping,Laundry
View City
Roof Type Composition
Building
Lot Description Corner Lot, Cul_de_sac, Level, Public Road
Story 3
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Schools
Elementary Schools Boise-Eliot
Middle Schools Harriet Tubman
High Schools Jefferson
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional