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2222-2224 NW Irving St. Portland, Oregon 2222 NW Irving St 6 Unit Apartment Building $1,790,000 ($298,333/Unit) 6.02% Cap Rate Portland, OR 97210

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INVESTMENT HIGHLIGHTS

Desirable location steps to restaurants, cafes and shops
Large 4 bedroom, 2 bath unit ideal for owner occupancy

Charming vintage house that has been well-maintained

EXECUTIVE SUMMARY

Seller carry available with 20% down, 5.5% interest, 30 yr amort and 10 yr balloon. Excellent high-demand location and solid investment opportunity. Steps to vibrant NW 23rd in the heart of Portland's iconic Northwest Alphabet District. Spacious 4 bedroom / 2 bath unit is ideal for owner occupancy. Rare off-street parking with driveway that can accommodate 3 cars. Extensive improvements include plumbing, electric, hvac and seismic retrofit. Seller retiring; has owned for 25 years and occupied 2 different units for a total of 13 years. All units occupied, available for viewing upon accepted offer.

FINANCIAL SUMMARY (ACTUAL - 2024)	ANNUAL	ANNUAL PER SF
Gross Rental Income	$132,840	$24.44
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$132,840	$24.44
Taxes	$10,185	$1.87
Operating Expenses	$14,815	$2.73
Total Expenses	$25,000	$4.60
Net Operating Income	$107,840	$19.84

FINANCIAL SUMMARY (ACTUAL - 2024)

Gross Rental Income
Annual	$132,840
Annual Per SF	$24.44

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$132,840
Annual Per SF	$24.44

Taxes
Annual	$10,185
Annual Per SF	$1.87

Operating Expenses
Annual	$14,815
Annual Per SF	$2.73

Total Expenses
Annual	$25,000
Annual Per SF	$4.60

Net Operating Income
Annual	$107,840
Annual Per SF	$19.84

PROPERTY FACTS

Price	$1,790,000	Property Subtype	Apartment Office Office Residential
Price Per Unit	$298,333	Building Class	C
Sale Type	Investment	Lot Size	0.12 AC
Cap Rate	6.02%	Building Size	5,436 SF
Gross Rent Multiplier	14.75	No. Stories	3
No. Units	6	Year Built	1905
Property Type	Multifamily
Zoning	RM3 - The RM3 zone is a medium- to high-density multi-dwelling zone applied near the Central City, and in centers, station areas, and along civic corridors.

Price	$1,790,000
Price Per Unit	$298,333
Sale Type	Investment
Cap Rate	6.02%
Gross Rent Multiplier	14.75
No. Units	6
Property Type	Multifamily
Property Subtype	Apartment Office Office Residential
Building Class	C
Lot Size	0.12 AC
Building Size	5,436 SF
No. Stories	3
Year Built	1905
Zoning	RM3 - The RM3 zone is a medium- to high-density multi-dwelling zone applied near the Central City, and in centers, station areas, and along civic corridors.