$665,000
$10K PRICE DROP

Estimated payment $4,046/month

Total Views 38,170
8 Beds
4 Baths
3,095 Sq Ft
$215 Price per Sq Ft

Highlights

  • 0.34 Acre Lot
  • Level Lot
  • Heating System Uses Gas
  • Green Certified Home
  • Wood Siding
  • 1-Story Property

About This Home

*** 7.5% CAP RATE *** EXCELLENT CASH FLOW with VALUE ADD OPPORTUNITY *** This amazing .34 acre property has three homes and possibly room for one more. All three ROOFS ARE NEW and all three have RECENT INTERIOR UPDATES. Fully rented and ready! Very convenient location close to I-205 and many amenities. Hurry now before this opportunity is gone! [Home Energy Score = 2. HES Report at

Listing Agent

Jason Kennedy

RE/MAX Equity Group License #200501139 Listed on: 04/16/2025

RE/MAX Equity Group

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,032

Year Built

  • Built in 1984

Lot Details

  • 0.34 Acre Lot
  • Level Lot

Home Design

  • Composition Roof
  • Wood Siding
  • Vinyl Siding

Interior Spaces

  • 3,095 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Parking

  • 10 Parking Spaces
  • Paved Parking

Eco-Friendly Details

  • Green Certified Home

Schools

  • Earl Boyles Elementary School
  • Ron Russell Middle School
  • David Douglas High School

Utilities

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

Listing and Financial Details

  • Assessor Parcel Number R218313

Community Details

Overview

  • 3 Units

Building Details

  • Operating Expense $13,551
  • Gross Income $64,560
  • Net Operating Income $51,009

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,032

Year Built

Built in 1984

Lot Details

0

Listing Details

  • Standard Status: Active
  • MLS Status: Active
  • Property Type: MultiFamily
  • Stories: 1
  • Year Built: 1984
  • Property Attached Yn: No
  • Open House: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bedrooms: 8
  • Lot Size Range: SqFt10000to14999

Exterior Features

  • Exterior Description: VinylSiding,WoodSiding
  • Lot Size: 10,000 to 14,999 SqFt
  • View: No
  • Lot Features: Level
  • Road Surface Type: Paved
  • Roof: Composition

Garage/Parking

  • Parking Description: Paved
  • Attached Garage: No
  • Total Parking Spaces: 10.0

Utilities

  • Fuel Description: Gas
  • Hot Water: Electricity
  • Cooling Y N: No
  • Heating: WallHeater
  • Heating Yn: No
  • Sewer: PublicSewer
  • Water Source: PublicWater

Schools

  • Elementary School: Earl Boyles
  • High School: David Douglas
  • Middle Or Junior School: Ron Russell

Lot Info

  • Zoning: R5
  • Lot Size Acres: 0.34
  • Lot Size Sq Ft: 14810.0
  • Parcel #: R218313

Green Features

  • Green Certification: Yes

Rental Info

  • Rent Includes: Sewer, TrashCollection, Water

Tax Info

  • Tax Deferral: No
  • Tax Year: 2024
  • Tax Annual Amount: 6031.56

Multi Family

  • Unit Type: UnitTypeType1, UnitTypeType2, UnitTypeType3
  • Number Of Units Total: 3
  • Gross Rent Multiplier: 10.3
  • Annual Gross Income: 64560.0
  • Property Net Operating Income: 51009.0
  • Annual Operating Expense: 13551.0

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





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
2024 $6,032 $252,830 -- --
2023 $6,032 $245,470 $0 $0
2022 $5,469 $238,330 $0 $0
2021 $5,379 $231,390 $0 $0
2020 $4,873 $224,660 $0 $0
2019 $4,718 $218,120 $0 $0
2018 $4,573 $211,770 $0 $0
2017 $4,404 $205,610 $0 $0
2016 $4,151 $199,630 $0 $0
2015 $3,877 $193,820 $0 $0
2014 $3,358 $188,180 $0 $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/03/2025 09/03/25 Price Changed $665,000 -1.5% $215 / Sq Ft
04/16/2025 04/16/25 For Sale $675,000 +68.8% $218 / Sq Ft
12/31/2018 12/31/18 Sold $400,000 -11.1% $132 / Sq Ft
12/08/2018 12/08/18 Pending -- -- --
09/21/2018 09/21/18 For Sale $450,000 -- $149 / Sq Ft
Source: Regional Multiple Listing Service (RMLS)

Purchase History

Date Type Sale Price Title Company
Warranty Deed $400,000 First American Title
Interfamily Deed Transfer -- None Available
Bargain Sale Deed -- None Available
Warranty Deed $199,950 Chicago Title Insurance Co
Warranty Deed $145,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $424,000 New Conventional
Closed $0 Unknown
Closed $298,125 New Conventional
Previous Owner $115,000 Unknown
Previous Owner $50,000 Credit Line Revolving
Previous Owner $147,750 Balloon
Previous Owner $120,000 Purchase Money Mortgage
Previous Owner $105,000 Seller Take Back
Source: Public Records

About the Listing Agent

Jason Kennedy

RE/MAX Equity Group

(971) 318-2572

Section Image

Jason is committed to excellence and to providing professional, result-driven service. His dedication to the highest ethical standards is the foundation from which a solid business relationship is built.

The Kennedy Team is made up of Jason Kennedy and Matt Kennedy and their office administrator Teri. Combined they have over 60 years of experience and Jason and Matt are consistently among the top producing agents in their office. This includes 2024 #1 Oregon RE/MAX Commerical Team and

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  • 2498 Dorsey Dr, Hubbard, OR 97032

    $450,000 Pending

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  • 1609 Granite St, Woodburn, OR 97071

    $150,000 Pending

    • Land
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    • $1,363,636 per Acre
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  • 1597 Granite St, Woodburn, OR 97071

    $150,000 Pending

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  • 785 Riley Dr NE, Silverton, OR 97381

    $779,500 Pending

    • 4 Beds
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  • 21605 SW Cherry Hill Rd, Sheridan, OR 97378

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  • 19155 SE Yamhill St Unit 16, Portland, OR 97233

    $275,000 Sold Dec 26, 2024

    • 2 Beds
    • 2.5 Baths
    • 1,079 Sq Ft
    • 19155 SE Yamhill St
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Source: Regional Multiple Listing Service (RMLS)

MLS Number: 321081121

Regional Multiple Listing Service (RMLS)

APN: R218313