NOT LISTED FOR SALE

605 E Hereford St Gladstone, OR 97027

Estimated Value: $645,000 - $759,000

4 Beds
4 Baths
2,750 Sq Ft
$259/Sq Ft Est. Value

Last Sold July 22, 2019

Last sale price $552,000 $201 Per Sq Ft

Est. 29% increase in value since last sale

Current estimated payment $4,498/month

4 Days on Market

Highlights

  • Corner Lot
  • Zoned Heating
  • 1-Story Property

About This Home

As of July 2019

One Level Two Side by Side Buildings 1985 FOURPLEX in the heart of quiet Gladstone. Well kept property w/patios, storage, w/d hook-up, off-street parking, Walk to school, shopping and restaurants. Easy transportation. Great upside. Fully occupied long term tenants rented WELL BELOW MARKET. Buyer to assume tenants at close. Great opportunity for investors. Please do not disturb tenants. WRITE ALL OFFERS SUBJECT TO INTERIOR INSPECTION.

Last Agent to Sell the Property

Haris Wolfgang

Premiere Property Group, LLC License #900600085 Listed on: 06/07/2019

Premiere Property Group, LLC

Co-Listed By

Adine Peterson

Premiere Property Group, LLC License #201209477

Last Buyer's Agent

Kristofer Lood

Premiere Property Group, LLC License #201221622

Premiere Property Group, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,175

Year Built

  • Built in 1985

Lot Details

  • Corner Lot
  • Level Lot

Parking

  • 8 Car Garage
  • Open Parking

Home Design

  • Composition Roof
  • Vinyl Siding

Interior Spaces

  • 2,750 Sq Ft Home
  • 1-Story Property
  • Crawl Space

Schools

  • John Wetten Elementary School
  • Kraxberger Middle School
  • Gladstone High School

Utilities

  • No Cooling
  • Zoned Heating
  • Electric Water Heater

Listing and Financial Details

  • Rent includes sewer, trashcollection, water
  • Assessor Parcel Number 00531222

Community Details

Overview

  • 4 Units
  • Gladstone Village Subdivision

Building Details

  • Operating Expense $9,300
  • Gross Income $36,000
  • Net Operating Income $26,700

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,175

Year Built

Built in 1985

Lot Details

0

Parking

8

Listing Details

  • Standard Status: Closed
  • MLS Status: Sold
  • Property Type: MultiFamily
  • Stories: 1
  • Year Built: 1985
  • Property Condition: Existing
  • Property Attached Yn: No
  • Current Price For Status: 552000.0
  • Open House: No
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: CrawlSpace
  • Storage: IndividualStorageUnits,Locked
  • Lot Size Range: SqFt10000to14999

Exterior Features

  • Exterior Description: VinylSiding
  • Lot Size: 10,000 to 14,999 SqFt
  • View: No
  • Lot Features: CornerLot, Level
  • Disclosures: Disclosure
  • Roof: Composition

Garage/Parking

  • Parking Description: Open
  • Attached Garage: No
  • Garage Spaces: 8.0
  • Total Parking Spaces: 8.0

Utilities

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

Schools

  • Elementary School: John Wetten
  • High School: Gladstone
  • Middle Or Junior School: Kraxberger

Lot Info

  • Zoning: R5
  • Parcel #: 00531222

Green Features

  • Green Certification: No

Rental Info

  • Rent Includes: Sewer, TrashCollection, Water

Tax Info

  • Tax Deferral: No
  • Tax Year: 2018
  • Tax Annual Amount: 7175.02

Multi Family

  • Unit Type: UnitTypeType1, UnitTypeType2, UnitTypeType3, UnitTypeType4
  • Number Of Units Total: 4
  • Gross Rent Multiplier: 14.99
  • Annual Gross Income: 36000.0
  • Property Net Operating Income: 26700.0
  • Annual Operating Expense: 9300.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 7, 2019
Closed on
Jul 19, 2019
Sold by
Hipshman Lawrence
Bought by
Hereford Columbia Llc
Seller's Agent
Haris Wolfgang
Premiere Property Group, LLC
Buyer's Agent
Kristofer Lood
Premiere Property Group, LLC
List Price
$539,500
Sold Price
$552,000
Premium/Discount to List
$12,500
2.32%
Current Estimated Value
$712,975

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$160,975
Avg. Annual Appreciation
4.03%
Original Mortgage
$386,400
Outstanding Balance
$341,097
Interest Rate
4.3%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$371,878

Purchase Details

Closed on
Jan 3, 2003
Sold by
Woods Lewis M and Woods Teresa M
Bought by
Hipshman Lawrence

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$294,750
Interest Rate
6.06%

Purchase Details

Closed on
May 1, 1991
Bought by
Hipshman Lawrence
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
Hereford Columbia Llc $552,000 First American
Hipshman Lawrence -- Pacific Nw Title
Hipshman Lawrence $72,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Hereford Columbia Llc $386,400
Previous Owner Hipshman Lawrence $294,750
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/22/2019 07/22/19 Sold $552,000 +2.3% $201 / Sq Ft
06/14/2019 06/14/19 Pending -- -- --
06/10/2019 06/10/19 For Sale $539,500 -- $196 / 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 $9,274 $460,264 -- --
2024 $9,017 $446,859 -- --
2023 $9,017 $433,844 $0 $0
2022 $8,385 $421,208 $0 $0
2021 $8,077 $408,940 $0 $0
2020 $7,533 $379,337 $0 $0
2019 $7,446 $368,289 $0 $0
2018 $7,175 $357,562 $0 $0
2017 $6,961 $347,148 $0 $0
2016 $6,731 $337,037 $0 $0
2015 $6,509 $327,220 $0 $0
2014 $6,334 $317,689 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Haris Wolfgang

    Seller's Agent in 2019

    Haris Wolfgang

    Premiere Property Group, LLC

    (503) 969-6262

    59 Total Sales

    Haris Wolfgang
    Section Image

  • A

    Seller Co-Listing Agent in 2019

    Adine Peterson

    Premiere Property Group, LLC

    (503) 670-9000

    59 Total Sales

    Adine Peterson
    Section Image

  • K

    Buyer's Agent in 2019

    Kristofer Lood

    Premiere Property Group, LLC

    (503) 670-9000

    12 Total Sales

    Kristofer Lood
    Section Image
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Map

Source: Regional Multiple Listing Service (RMLS)

MLS Number: 19042201

Regional Multiple Listing Service (RMLS)

APN: 00531222

Oregon Clackamas County Gladstone 97027

605 E Hereford St, Gladstone, OR

Not Listed for Sale

MultiFamily

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