NOT LISTED FOR SALE

12502 SE Shell Ln Milwaukie, OR 97222

Lake Road Neighborhood

Estimated Value: $637,000 - $897,000

2 Beds
1 Bath
3,224 Sq Ft
$239/Sq Ft Est. Value

Last Sold June 17, 2024

Last sale price $847,000 $263 Per Sq Ft

Est. 9% decrease in value since last sale

Current estimated payment $4,644/month

1 Day on Market

Highlights

  • Territorial View
  • Level Lot
  • 1-Story Property
  • No HOA
  • Heating System Mounted To A Wall or Window

About This Home

As of June 2024

Wonderful Investment Opportunity in Quiet Milwaukie Location! Remodeled 4-plex on a dead-end street next to Rowe Middle School. Easy access to HWY 224 & all that Downtown Milwaukie has to offer plus the MAX line. 2 separate 1 level buildings! Each unit features 2 bedrooms. Recent updates include new electrical panels, siding, & roofs. Carport parking for each unit. Solid rental history w/some long-term tenants. HES = 6. Great rental property in CLACKAMAS COUNTY!!

Last Agent to Sell the Property

Jon Sanford

Berkshire Hathaway HomeServices NW Real Estate License #200604177 Listed on: 05/23/2024

Berkshire Hathaway HomeServices NW Real Estate

Last Buyer's Agent

Joe Kennedy

Windermere Realty Trust License #201222826

Windermere Realty Trust

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,025

Year Built

  • Built in 1964 | Remodeled

Lot Details

  • 0.27 Acre Lot
  • Level Lot

Home Design

  • Composition Roof
  • Cement Siding
  • Concrete Perimeter Foundation

Interior Spaces

  • 3,224 Sq Ft Home
  • 1-Story Property
  • Territorial Views
  • Crawl Space

Parking

  • 8 Parking Spaces
  • Carport
  • Paved Parking

Schools

  • Milwaukie Elementary School
  • Rowe Middle School
  • Milwaukie High School

Utilities

  • No Cooling
  • Heating System Mounted To A Wall or Window
  • Electric Water Heater

Listing and Financial Details

  • Rent includes ground maintenance, sewer, trashcollection, water
  • Assessor Parcel Number 00034634

Community Details

Overview

  • No Home Owners Association
  • 4 Units
  • Lake Road Subdivision

Building Details

  • Operating Expense $10,000
  • Gross Income $62,400
  • Net Operating Income $50,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,025

Year Built

Built in 1964 | Remodeled

Lot Details

0

Listing Details

  • Standard Status: Closed
  • MLS Status: Sold
  • Property Type: MultiFamily
  • Stories: 1
  • Year Built: 1964
  • Property Condition: UpdatedRemodeled
  • Property Attached Yn: No
  • Current Price For Status: 847000.0
  • Open House: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: CrawlSpace
  • Lot Size Range: SqFt10000to14999

Exterior Features

  • Exterior Description: CementSiding
  • Lot Size: 10,000 to 14,999 SqFt
  • Foundation Details: ConcretePerimeter
  • View: Yes
  • Lot Features: Level
  • Road Surface Type: Paved
  • Roof: Composition
  • View: Territorial

Garage/Parking

  • Parking Description: Carport, Paved
  • Attached Garage: No
  • Total Parking Spaces: 8.0

Utilities

  • Fuel Description: Electricity
  • Hot Water: Electricity
  • Cooling: None
  • Cooling Y N: No
  • Heating: WallHeater
  • Heating Yn: No
  • Sewer: PublicSewer
  • Water Source: PublicWater

Condo/Co-op/Association

  • Association: No

Schools

  • Elementary School: Milwaukie
  • High School: Milwaukie
  • Middle Or Junior School: Rowe

Lot Info

  • Zoning: MD
  • Lot Size Acres: 0.27
  • Lot Size Sq Ft: 11761.0
  • Parcel #: 00034634

Green Features

  • Green Certification: No

Rental Info

  • Rent Includes: MaintenanceGrounds, Sewer, TrashCollection, Water

Tax Info

  • Tax Deferral: No
  • Tax Year: 2023
  • Tax Annual Amount: 7025.26

Multi Family

  • Unit Type: UnitTypeType1, UnitTypeType2, UnitTypeType3
  • Number Of Units Total: 4
  • Gross Rent Multiplier: 14.02
  • Annual Gross Income: 62400.0
  • Property Net Operating Income: 50000.0
  • Annual Operating Expense: 10000.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 2, 2025
Sold by
Kottler Linda
Bought by
Portland Condo Llc
Current Estimated Value
$769,645

Purchase Details

Listed on
May 23, 2024
Closed on
Jun 17, 2024
Sold by
Seaman Charles P and Seaman Peggy E
Bought by
Kottler Linda
Seller's Agent
Jon Sanford
Berkshire Hathaway HomeServices NW Real Estate
Buyer's Agent
Joe Kennedy
Windermere Realty Trust
List Price
$875,000
Sold Price
$847,000
Premium/Discount to List
-$28,000
-3.2%
Views
94

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-5.99%

Purchase Details

Closed on
Aug 28, 2008
Sold by
Seaman Charles P and Seaman Mark H
Bought by
Seaman Charles P and Seaman Peggy E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
6.27%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Portland Condo Llc -- None Listed On Document
Portland Condo Llc -- None Listed On Document
Kottler Linda $847,000 Wfg Title
Seaman Charles P -- Lawyers Title Ins
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Seaman Charles P $150,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/17/2024 06/17/24 Sold $847,000 -3.2% $263 / Sq Ft
05/25/2024 05/25/24 Pending -- -- --
05/23/2024 05/23/24 For Sale $875,000 -- $271 / Sq Ft
Source: Regional Multiple Listing Service (RMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,484 $340,109 -- --
2024 $7,228 $330,203 -- --
2023 $7,228 $320,586 $0 $0
2022 $6,674 $311,249 $0 $0
2021 $6,441 $302,184 $0 $0
2020 $6,241 $293,383 $0 $0
2019 $6,147 $284,838 $0 $0
2018 $5,466 $276,542 $0 $0
2017 $5,310 $268,487 $0 $0
2016 $5,132 $260,667 $0 $0
2015 $4,887 $253,075 $0 $0
2014 $4,635 $245,704 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Jon Sanford

    Seller's Agent in 2024

    Jon Sanford

    BHHS Oregon- Northwest

    (503) 927-4470

    2 in this area

    69 Total Sales

    Jon Sanford
    Section Image
  • Joe Kennedy

    Buyer's Agent in 2024

    Joe Kennedy

    Windermere Realty Trust

    (503) 704-4898

    1 in this area

    53 Total Sales

    Joe Kennedy
    Section Image
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Map

Source: Regional Multiple Listing Service (RMLS)

MLS Number: 24414035

Regional Multiple Listing Service (RMLS)

APN: 00034634

Oregon Clackamas County Milwaukie 97222 Lake Road

12502 SE Shell Ln, Milwaukie, OR

Not Listed for Sale

MultiFamily

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