NOT LISTED FOR SALE
-- Bed
10 Baths
10,160 Sq Ft
0.64 Acre Lot

Sale Details

Date Sold: November 25, 2024

Last sale price $2,177,901 $214 Per Sq Ft

6 Days on Market

Highlights

  • 0.64 Acre Lot
  • Level Lot
  • 1-Story Property
  • Baseboard Heating

About This Home

As of November 2024

Welcome to the Cleveland Colonial Apartments. This is a 10-unit community conveniently located just a 1/2 mile from historic downtown Gresham. The building has a great unit mix of eight 3 bedroom/1 bath, 1000+ square foot units and two 2 bedroom/1 bath, 800+ square foot units. All units have been upgraded to include but are not limited to engineered hardwood floors, newer windows, kitchens with newer appliances and countertops, newer fixtures, and in-unit washers and dryers. All units uniquely have their own private backyards, and parking right in front of the units as well as plenty of additional off-street parking. The units have quite a few longer term tenants as a result of their amenities, the size of the units, and the location. This location is a walker’s paradise and many daily errands do not require a car. The property has a 91 walk score. This building is roughly a 7-minute walk from the Blue MAX Line. All units are currently occupied with a mix of both long term and newer tenants. The basement could be rented out as additional storage for increased income. Offers are to be written contingent on interior inspections.

Last Agent to Sell the Property

Jeffrey Capen

Windermere Realty Trust Brokerage Phone: 503-888-5191 License #200308199 Listed on: 09/11/2024

Windermere Realty Trust

Co-Listed By

Kira Dennison

Windermere Realty Trust Brokerage Phone: 503-888-5191 License #200308228

Last Buyer's Agent

Lori Wika

MORE Realty License #201201120

MORE Realty
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Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,846

Year Built

  • Built in 1969 | Remodeled

Lot Details

  • 27,878 Sq Ft Lot
  • Level Lot

Home Design

  • Brick Exterior Construction
  • Composition Roof

Interior Spaces

  • 10,160 Sq Ft Home
  • 1-Story Property
  • Unfinished Basement
  • Basement Fills Entire Space Under The House

Parking

  • 10 Parking Spaces
  • Assigned Parking

Schools

  • East Gresham Elementary School
  • Dexter Mccarty Middle School
  • Gresham High School

Utilities

  • No Cooling
  • Baseboard Heating
  • Electric Water Heater

Listing and Financial Details

  • Assessor Parcel Number R339263

Community Details

Overview

  • 10 Units
  • Downtown Gresham Subdivision

Building Details

  • Operating Expense $39,583
  • Gross Income $210,193
  • Net Operating Income $170,610

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,846

Year Built

Built in 1969 | Remodeled

Lot Details

0.64 Acres

Listing Details

  • Standard Status: Closed
  • MLS Status: Sold
  • Property Type: MultiFamily
  • Stories: 1
  • Year Built: 1969
  • Property Condition: UpdatedRemodeled
  • Property Attached Yn: No
  • Current Price For Status: 2177901.0
  • Open House: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: FullBasement, Unfinished
  • Lot Size Range: SqFt20000toAcres1

Exterior Features

  • Exterior Description: Brick
  • Lot Size: 20,000 SqFt to .99 Acres
  • View: No
  • Lot Features: Level
  • Road Surface Type: Paved
  • Roof: Composition

Garage/Parking

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

Utilities

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

Schools

  • Elementary School: East Gresham
  • High School: Gresham
  • Middle Or Junior School: Dexter McCarty

Lot Info

  • Zoning: DRL-2
  • Lot Size Acres: 0.64
  • Lot Size Sq Ft: 27878.0
  • Parcel #: R339263

Green Features

  • Green Certification: No

Rental Info

  • Rent Includes: None

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 14845.64

Multi Family

  • Unit Type: UnitTypeType1, UnitTypeType10, UnitTypeType2, UnitTypeType3, UnitTypeType4, UnitTypeType5, UnitTypeType6, UnitTypeType7, UnitTypeType8, UnitTypeType9
  • Number Of Units Total: 10
  • Gross Rent Multiplier: 10.47
  • Annual Gross Income: 210193.0
  • Property Net Operating Income: 170610.0
  • Annual Operating Expense: 39583.0

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 11, 2024
Closed on
Nov 24, 2024
Sold by
Bought by
Seller's Agent
Jeffrey Capen
Windermere Realty Trust
Buyer's Agent
Lori Wika
MORE Realty
List Price
$2,199,900
Sold Price
$2,177,901
Premium/Discount to List
-$21,999
-1%
Views
1

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Outstanding Balance
$403,974
Interest Rate
6.32%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jun 14, 2016
Closed on
Sep 14, 2016
Sold by
Bought by
Seller's Agent
Bernard Gehret
Joseph Bernard LLC
Buyer's Agent
Jeffrey Capen
Windermere Realty Trust
List Price
$1,100,000
Sold Price
$1,120,000
Premium/Discount to List
$20,000
1.82%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.45%
Original Mortgage
$775,000
Interest Rate
3.43%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 13, 2010
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$461,550
Interest Rate
4.95%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 15, 1997
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Downtown Gresham, OR

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$2,177,901 Fidelity National Title
$1,120,000 Old Republic Title
$710,000 Ticor Title
-- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $500,000
Previous Owner $775,000
Previous Owner $461,550
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
11/25/2024 11/25/24 Sold $2,177,901 -1.0% $214 / Sq Ft
09/17/2024 09/17/24 Pending -- -- --
09/11/2024 09/11/24 For Sale $2,199,900 +96.4% $217 / Sq Ft
09/16/2016 09/16/16 Sold $1,120,000 +1.8% $92 / Sq Ft View Prior Sale
07/11/2016 07/11/16 Pending -- -- --
06/14/2016 06/14/16 For Sale $1,100,000 -- $90 / Sq Ft
Source: Regional Multiple Listing Service (RMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $17,023 $836,510
2024 $16,295 $812,150
2023 $14,846 $788,500 $0 $0
2022 $14,431 $765,540 $0 $0
2021 $14,067 $743,250 $0 $0
2020 $13,236 $721,610 $0 $0
2019 $13,288 $700,600 $0 $0
2018 $12,290 $680,200 $0 $0
2017 $11,791 $660,390 $0 $0
2016 $10,396 $641,160 $0 $0
2015 $10,171 $622,490 $0 $0
2014 $9,924 $604,360 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Regional Multiple Listing Service (RMLS)

MLS Number: 24090840

Regional Multiple Listing Service (RMLS)

APN: 1S3E10AC 04000

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