$624,990
SOLD MAY 22, 2025
-- Bed
-- Bath
3,871 Sq Ft
5,227 Sq Ft Lot

Recently Sold

$161 Per Sq Ft

5 Days on Market

Highlights

  • Territorial View
  • 4 Car Attached Garage
  • Zoned Heating
  • Corner Lot

About This Home

As of May 2025

Exceptional Investment Opportunity: 3-Plex in a Thriving Community.Discover this traditional-style 3-plex, offering a unique blend of comfort, functionality, and income potential. Nestled within a welcoming community of multi-family homes, this property is ideally situated near shopping, schools, parks, & more. The Homeowners Association (HOA) not only enhances community living but also includes property management services, ensuring a hassle-free ownership experience. Unit A – Charming Two-Story Townhouse. This unit features two spacious bedrooms & 1 1/2 bathrooms, providing ample space for comfortable living. The open-concept living area is accentuated by a cozy gas fireplace. Enjoy the convenience of a private patio for outdoor relaxation & an attached garage for secure parking & additional storage. Unit B – Expansive Single-Level Flat with Bonus Room. This two bedroom, full bathroom unit boasts a large bonus room complete with a closet, perfect for use as a third bedroom or home office. The generous living & dining areas flow seamlessly into the kitchen, all warmed by a gas fireplace. A private patio provides a serene outdoor space, and direct garage access adds to the unit's practicality. Unit C – Upper-Level Flat with En-Suite Primary Bedroom. This upper-level unit has two bedrooms & two full bathrooms, one is a private en-suite in the primary bedroom. The expansive living space is highlighted by a gas fireplace, offering a comfortable & inviting atmosphere. An attached garage ensures convenient parking and storage solutions. Additionally, a fourth garage currently generates additional rental income but offers flexibility for use as on-site storage or further income opportunities. This 3-plex presents a opportunity to invest in a property that combines immediate income generation w/ long-term growth potential. Whether you're expanding your portfolio or seeking a solid entry into real estate investment, this property warrants your attention. Call for tour.

Last Agent to Sell the Property

Gene Farr

Premiere Property Group, LLC License #201215672 Listed on: 05/01/2025

Premiere Property Group, LLC

Last Buyer's Agent

Sarah Kirkwood

eXp Realty, LLC License #201218874

eXp Realty, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,524

Year Built

  • Built in 2000 | Remodeled

Lot Details

  • 5,227 Sq Ft Lot
  • Corner Lot
  • Level Lot

Parking

  • 4 Car Attached Garage

Home Design

  • Composition Roof
  • Vinyl Siding

Interior Spaces

  • 3,871 Sq Ft Home
  • 2-Story Property
  • Territorial Views
  • Crawl Space

Schools

  • Jason Lee Elementary School
  • Roseway Heights Middle School
  • Leodis Mcdaniel High School

Utilities

  • No Cooling
  • Zoned Heating
  • Electric Water Heater

Listing and Financial Details

  • Rent includes ground maintenance, trashcollection
  • Assessor Parcel Number R211195

Community Details

Overview

  • Property has a Home Owners Association
  • 3 Units
  • Madison Place Owners Association, Phone Number (503) 307-2263
  • Madison Place Subdivision
  • Property managed by Action Management - Wendy

Building Details

  • Gross Income $65,820

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,524

Year Built

Built in 2000 | Remodeled

Lot Details

0

Parking

4

Listing Details

  • Standard Status: Closed
  • MLS Status: Sold
  • Property Type: MultiFamily
  • Stories: 2
  • Year Built: 2000
  • Property Condition: UpdatedRemodeled
  • Property Attached Yn: No
  • Open House: No
  • PublicRemarksAssociation: Monthly HOA Due $533.10. Includes Landscaping, On-Site Mgmt, Garbage, HOA Insurance. For full PM service there would be additional 5% fee of collected rents. Pets Subject to Mgmt approval ADA compliant. Buyer to verify all fees with GoldStar.
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: CrawlSpace
  • Association Contact: Merilee Lloyd
  • Lot Size Range: SqFt5000to6999

Exterior Features

  • Exterior Description: VinylSiding
  • Lot Size: 5,000 to 6,999 SqFt
  • View: Yes
  • Lot Features: CornerLot, Level
  • Roof: Composition
  • View: Territorial

Garage/Parking

  • Parking Description: Attached, Garage
  • Attached Garage: No
  • Garage Spaces: 4.0
  • AssociationParkingSpaceNo: A,B,C,D

Utilities

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

Condo/Co-op/Association

  • Management Name: Action Management - Wendy
  • Management Phone: 503-760-4026
  • Association Name: Madison Place Owners Association
  • Phone: 503-307-2263
  • Association: Yes
  • Association Email: GOLDSTARPROPMGMT@gmail.com

Association/Amenities

  • AssociationAddress: 8407 NE Russell St Portland, OR 97220
  • AssociationPendingLitigationYN: No
  • AssociationStatus: Active

Schools

  • Elementary School: Jason Lee
  • High School: Leodis McDaniel
  • Middle Or Junior School: Roseway Heights

Lot Info

  • Zoning: EG2
  • Lot Size Acres: 0.12
  • Lot Size Sq Ft: 5227.0
  • Parcel #: R211195

Green Features

  • Green Certification: No

Rental Info

  • Rent Includes: MaintenanceGrounds, TrashCollection

Tax Info

  • Tax Deferral: No
  • Tax Year: 2024
  • Tax Annual Amount: 9524.12

Multi Family

  • Unit Type: UnitTypeType1, UnitTypeType2, UnitTypeType3
  • Number Of Units Total: 3
  • Gross Rent Multiplier: 9.5
  • Annual Gross Income: 65820.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 1, 2025
Closed on
May 21, 2025
Sold by
Neely Michael P
Bought by
Dien Christopher and Nguyen Tram
Seller's Agent
Gene Farr
Premiere Property Group, LLC
Buyer's Agent
Sarah Kirkwood
eXp Realty, LLC
List Price
$624,990
Sold Price
$624,990
Views
5
Current Estimated Value
$631,188

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$6,198
Avg. Annual Appreciation
3.72%

Purchase Details

Listed on
Apr 7, 2012
Closed on
Oct 16, 2012
Sold by
Hoang Viet Q
Bought by
Neely Michael P
Seller's Agent
Long Truong
MORE Realty
Buyer's Agent
Kyle Ball
Premiere Property Group, LLC
List Price
$350,000
Sold Price
$305,000
Premium/Discount to List
-$45,000
-12.86%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.87%
Original Mortgage
$228,750
Interest Rate
3.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 20, 2004
Sold by
Skaar Tom
Bought by
Hoang Viet Q and Nguyen Thuphuong Thi

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$120,000
Interest Rate
5.82%
Mortgage Type
Balloon

Purchase Details

Closed on
Aug 10, 2003
Sold by
Skaar Thomas C
Bought by
Skaar Tom

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$255,000
Interest Rate
5.29%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 29, 2002
Sold by
Skaar Thomas C
Bought by
Skaar Tom and Skaar Tracey L

Purchase Details

Closed on
Mar 31, 1999
Sold by
Pacific Western Homes Inc
Bought by
Skaar Thomas C and Skaar Tracey L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$241,536
Interest Rate
6.79%
Mortgage Type
Construction
Source: Public Records

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed $624,990 None Listed On Document
Warranty Deed $305,000 Fidelity Natl Title Co Or
Warranty Deed $319,900 Lawyers Title Ins
Interfamily Deed Transfer -- Multiple
Interfamily Deed Transfer -- Oregon Title Insurance Co
Warranty Deed $54,500 Oregon Title Insurance Co
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $228,750 New Conventional
Previous Owner $80,000 Credit Line Revolving
Previous Owner $120,000 Balloon
Previous Owner $255,000 Purchase Money Mortgage
Previous Owner $241,536 Construction
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/22/2025 05/22/25 Sold $624,990 0.0% $161 / Sq Ft
05/06/2025 05/06/25 Pending -- -- --
05/01/2025 05/01/25 For Sale $624,990 +104.9% $161 / Sq Ft
10/25/2012 10/25/12 Sold $305,000 -12.9% $79 / Sq Ft
09/06/2012 09/06/12 Pending -- -- --
04/07/2012 04/07/12 For Sale $350,000 -- $90 / 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
2024 $9,524 $355,970 -- --
2023 $9,524 $345,610 $0 $0
2022 $8,960 $335,550 $0 $0
2021 $8,808 $325,780 $0 $0
2020 $8,081 $316,300 $0 $0
2019 $7,783 $307,090 $0 $0
2018 $7,555 $298,150 $0 $0
2017 $7,241 $289,470 $0 $0
2016 $6,626 $281,040 $0 $0
2015 $5,806 $272,860 $0 $0
2014 $5,360 $264,920 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Regional Multiple Listing Service (RMLS)

MLS Number: 570703005

Regional Multiple Listing Service (RMLS)

APN: R211195