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
Rooms
Basement Full Basement
Interior
Heating Ductless, Mini Split, Wall Heater
Cooling Mini Split
Exterior
Community Features AllLandscaping,Laundry
View City
Roof Type Composition
Garage No
Building
Lot Description Corner Lot, Cul_de_sac, Level, Public Road
Story 3
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 3
Schools
Elementary Schools Boise-Eliot
Middle Schools Harriet Tubman
High Schools Jefferson
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional