19701-19707 SW 68th St
Tualatin, OR 97062
Tualatin 4-Plex · Multifamily Property For Sale · 4 Units

**Price Reduction** Excellent current cash flow on in-place rents.Immediate potential for over 11% cash flow. Two units recently upgraded, remaining two units occupied but on notice for easy turn and rent increase. The Tualatin 4-Plex was built in 1978 and comprise of four (4) total units. Unit amenities include open patios with yard access, ample built-in storage/closet space, large kitchens and all units include full size washer/dryer hookups and wood-burning fireplaces. Kitchens include range/stove units, dishwashers, full-size refrigerators and disposals. Property amenities include off-street parking spaces, four detached fully enclosed garages and large yard space. The unit-mix includes two 2bd/1ba townhouses at approximately 950 SF, one 3bd/1ba townhome at approximately 1,080 SF and one 4bd/2ba townhome at approximately 1,280 SF. All units in the complex are separately metered for electricity. Units are served with electric hot water and electric cadet style forced-air heating systems (in addition to wood-burning fireplaces). Tenants are responsible for electricity and cable and along with an extra utility charge currently averaging $45/mo/unit. Rents at the property are currently averaging near $0.96/SF across all units and present substantial realistic rental upside for a new investor. Current rents for the area average between $1.35/SF and $1.41/SF, the pro-forma outlook in the following Investment Summary section assumes modest pro-forma rents between $1.13/SF to $1.21/SF. Increasing rents to this level would increase cash flow based on a 25% down payment to over 10%. The Tualatin 4-Plex is located at 19701 SW 68th Avenue in Tualatin, Oregon, a suburb of Portland directly adjacent to the city of Lake Oswego. Tualatin & Lake Oswego have a combined population of 64,489 according to the 2013 census estimate. Lake Oswego is one of the most affluent suburbs of Portland with an average household median income per the 2012 census of $84,186. Most notable nearby amenities include Bridgeport Village, Safeway, Walgreens, 24-Hour Fitness, downtown Lake Oswego (4 miles) and Oswego Lake (1.5 miles).