$1,070,000
SOLD SEP 27, 2024
-- Bed
-- Bath
5,208 Sq Ft
5,227 Sq Ft Lot

Recently Sold

$205 Per Sq Ft

2% Above List Price

61 Days on Market

Highlights

  • Level Lot
  • No Heating
  • 4-minute walk to Montavilla City Park
  • Lap Siding

About This Home

As of September 2024

Fantastic 4-plex property with unique hard-to-find 3 bedroom/2.1 bath, large 1300 square foot units great for longer term tenanncies. Stackable washer and dryer in every unit. Large living spaces. Kitchens include a range, refrigerator, dishwasher and disposal, built-in microwave, and spacious dining room. Living rooms have slider access to a fenced, private yard. All bedrooms are up. Primary has an en-suite bath with a shower and a walk-in closet. The second full bath has a tub/shower combination. Units are separately metered for electricity. Great for an owner-occupant after the lease ends 8/31/24. 6% cap rates are based on rent improvement to the highest rent level. Current cap rate of 5.5%. RUBS allows for utility bill back in all leases. Easy to get to mass trans, coffee, parks, and restaurants. 97 bike score. 82 walk score.

Last Agent to Sell the Property

Jeffrey Capen

Windermere Realty Trust Brokerage Phone: 503-888-5191 License #200308199 Listed on: 05/30/2024

Windermere Realty Trust

Co-Listed By

John McClain

Windermere Realty Trust Brokerage Phone: 503-888-5191 License #201218259

Last Buyer's Agent

Jeffrey Capen

Windermere Realty Trust Brokerage Phone: 503-888-5191 License #200308199 Listed on: 05/30/2024

Windermere Realty Trust

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,571

Year Built

  • Built in 2008 | Remodeled

Lot Details

  • 5,227 Sq Ft Lot
  • Level Lot

Parking

  • On-Street Parking

Home Design

  • Composition Roof
  • Lap Siding

Interior Spaces

  • 5,208 Sq Ft Home
  • 2-Story Property
  • Crawl Space

Schools

  • Vestal Elementary School
  • Roseway Heights Middle School
  • Jefferson High School

Utilities

  • No Cooling
  • No Heating
  • Electric Water Heater

Listing and Financial Details

  • Assessor Parcel Number R186023

Community Details

Overview

  • 4 Units
  • Montavilla Subdivision

Building Details

  • Operating Expense $34,716
  • Gross Income $96,170
  • Net Operating Income $61,454

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,571

Year Built

Built in 2008 | Remodeled

Lot Details

0

Listing Details

  • Standard Status: Closed
  • MLS Status: Sold
  • Property Type: MultiFamily
  • Stories: 2
  • Year Built: 2008
  • Property Condition: UpdatedRemodeled
  • Property Attached Yn: No
  • Open House: No
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: CrawlSpace
  • Lot Size Range: SqFt5000to6999

Exterior Features

  • Exterior Description: LapSiding
  • Lot Size: 5,000 to 6,999 SqFt
  • View: No
  • Lot Features: Level
  • Road Surface Type: Paved
  • Roof: Composition

Garage/Parking

  • Parking Description: OnStreet
  • Attached Garage: No

Utilities

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

Schools

  • Elementary School: Vestal
  • High School: Jefferson
  • Middle Or Junior School: Roseway Heights

Lot Info

  • Zoning: RM2
  • Lot Size Acres: 0.12
  • Lot Size Sq Ft: 5227.0
  • Parcel #: R186023

Green Features

  • Green Certification: No

Rental Info

  • Rent Includes: None

Tax Info

  • Tax Deferral: No
  • Tax Year: 2023
  • Tax Annual Amount: 12570.71

Multi Family

  • Unit Type: UnitTypeType1, UnitTypeType2, UnitTypeType3
  • Number Of Units Total: 4
  • Gross Rent Multiplier: 10.4
  • Annual Gross Income: 96170.0
  • Property Net Operating Income: 61454.0
  • Annual Operating Expense: 34716.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 30, 2024
Closed on
Sep 23, 2024
Sold by
Wash Murfee Llc
Bought by
Meyer Joseph and Meyer Danielle
Seller's Agent
Jeffrey Capen
Windermere Realty Trust
Buyer's Agent
Jeffrey Capen
Windermere Realty Trust
List Price
$1,049,900
Sold Price
$1,070,000
Premium/Discount to List
$20,100
1.91%
Views
16
Current Estimated Value
$1,108,089

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$38,089
Avg. Annual Appreciation
1.38%
Original Mortgage
$856,000
Outstanding Balance
$434,925
Interest Rate
6.49%
Mortgage Type
Construction
Estimated Equity
$647,652

Purchase Details

Listed on
Jul 30, 2014
Closed on
Oct 27, 2014
Sold by
Olson Christine J
Bought by
Wash Murfee Llc
Seller's Agent
Kay Armstrong
MORE Realty
Buyer's Agent
Jeffrey Capen
Windermere Realty Trust
List Price
$599,000
Sold Price
$580,000
Premium/Discount to List
-$19,000
-3.17%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.32%
Original Mortgage
$435,000
Interest Rate
4.2%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jul 30, 2014
Closed on
Oct 24, 2014
Sold by
Ridge Runner Investments Llc
Bought by
Olson Christine J and Barrs Carrington E
Seller's Agent
Kay Armstrong
MORE Realty
Buyer's Agent
Jeffrey Capen
Windermere Realty Trust
List Price
$599,000
Sold Price
$580,000
Premium/Discount to List
-$19,000
-3.17%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$435,000
Interest Rate
4.2%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 3, 2012
Sold by
Armstrong Kirstin K
Bought by
Ridge Runner Investments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$438,000
Interest Rate
3.91%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 2, 2007
Sold by
Armstrong Robert and Armstrong Kirstin Kay
Bought by
Ridge Runner Investments Llc

Purchase Details

Closed on
Jul 25, 2007
Sold by
Kimco Properties Ltd
Bought by
Armstrong Robert and Armstrong Kirstin Kay

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$428,000
Interest Rate
6.62%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Dec 11, 2006
Sold by
Baptist Manor
Bought by
Portland Affordable Housing Preservation and Harrison Court Apts Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,850,000
Interest Rate
6.38%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 24, 2006
Sold by
Baptist Manor
Bought by
Kimco Properties Ltd
Source: Public Records

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Range of Values:

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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 $1,070,000 Fidelity National Title
Bargain Sale Deed -- Fidelity National Title Co
Warranty Deed $580,000 Fidelity National Title Co
Bargain Sale Deed -- Lawyers Title Ins Corp
Bargain Sale Deed -- Lawyers Title Ins Corp
Bargain Sale Deed -- Accommodation
Warranty Deed $535,000 First American Title Insuran
Warranty Deed $2,800,000 First American
Warranty Deed $395,000 First American
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $856,000 Construction
Previous Owner $435,000 New Conventional
Previous Owner $438,000 New Conventional
Previous Owner $1,600,000 Construction
Previous Owner $428,000 Purchase Money Mortgage
Previous Owner $1,850,000 Purchase Money Mortgage
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/27/2024 09/27/24 Sold $1,070,000 +7.0% $205 / Sq Ft
07/31/2024 07/31/24 Pending -- -- --
07/23/2024 07/23/24 Price Changed $999,900 -4.8% $192 / Sq Ft
07/02/2024 07/02/24 Price Changed $1,049,900 0.0% $202 / Sq Ft
07/02/2024 07/02/24 For Sale $1,049,900 -1.9% $202 / Sq Ft
06/19/2024 06/19/24 Off Market $1,070,000 -- --
05/30/2024 05/30/24 For Sale $1,099,900 +89.6% $211 / Sq Ft
10/02/2014 10/02/14 Sold $580,000 -3.2% $112 / Sq Ft
09/06/2014 09/06/14 Pending -- -- --
07/30/2014 07/30/14 For Sale $599,000 -- $115 / 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
2023 $12,571 $474,390 $0 $0
2022 $12,299 $460,580 $0 $0
2021 $12,090 $447,170 $0 $0
2020 $11,091 $434,150 $0 $0
2019 $10,683 $421,510 $0 $0
2018 $10,369 $409,240 $0 $0
2017 $9,938 $397,330 $0 $0
2016 $9,095 $385,760 $0 $0
2015 $8,857 $374,530 $0 $0
2014 $8,199 $363,630 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Regional Multiple Listing Service (RMLS)

MLS Number: 24529113

Regional Multiple Listing Service (RMLS)

APN: R186023