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Listed by JMA Properties LLC
$ 799,000
Est. payment | /mo
5,125 SqFt
$ 799,000
Est. payment | /mo
5,125 SqFt
Key Details
Property Type Commercial
Sub Type Income
Listing Status Pending
Purchase Type For Sale
Square Footage 5,125 sqft
Price per Sqft $155
MLS Listing ID 24453829
Year Built 1908
Annual Tax Amount $5,841
Lot Size 4,356 Sqft
Property Description
Income Producer! Located within the pulse of Portland's sought-after Broadway/Irvington district, this 3-unit Income property presents an excellent opportunity for current above-market returns with room for future growth. Highlighting the property is a turn-key remodeled commercial space with prime Broadway street frontage. Currently the home of the Paz Hair Lounge, a stable tenant with a mutual lessor-lessee extension exercisable in March, 2025. Beyond the commercial space awaits an income-generating Duplex, where historic charm intertwines seamlessly with contemporary comforts. Classic Arts & Crafts era features of an Old Portland converted home include high ceilings, built-in woodwork, hardwood floors, large windows, and craftsman touches throughout. The exterior was recently painted and includes ample on-site parking for residents. CM2 Commercial zoning offers boundless possibilities for future business or residential unit growth. Tremendous potential for high ROI, with current cap rate at 6.7% and low 11.5 GRM - this income producer if fully occupied & has great potential to grow! Please do not disturb the tenants. Property is not in the Irvington Historic District. A principal of the owner has an inactive Oregon real estate license. Buyer to perform own due diligence and to verify all information to their satisfaction.
Location
State OR
County Multnomah
Area _142
Zoning CM2
Interior
Heating Forced Air
Exterior
View City
Roof Type Composition,Membrane
Garage No
Building
Story 3
Sewer Public Sewer
Water Public Water
Level or Stories 3
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
