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2610-2618 NE Clackamas St 5 Unit Apartment Building $900,000 ($180,000/Unit) 6.57% Cap Rate Portland, OR 97232
INVESTMENT HIGHLIGHTS
- Quiet, tree-lined street
- Off street parking
- Updated units
- Large units
- Easy access to public transportation
- Professionally managed
EXECUTIVE SUMMARY
Private financing available! $500K down and the balance of $400K at 5.5% for 5 years. Fantastic close in NE location! Large units with many recent interior updates. Off street parking. Upside in rents!
FINANCIAL SUMMARY (PRO FORMA - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$88,750
|
$22.61
|
| Other Income |
$5,700
|
$1.45
|
| Vacancy Loss |
$2,527
|
$0.64
|
| Effective Gross Income |
$91,923
|
$23.41
|
| Taxes |
$11,500
|
$2.93
|
| Operating Expenses |
$21,260
|
$5.42
|
| Total Expenses |
$32,760
|
$8.34
|
| Net Operating Income |
$59,163
|
$15.07
|
FINANCIAL SUMMARY (PRO FORMA - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $88,750 |
| Annual Per SF | $22.61 |
| Other Income | |
|---|---|
| Annual | $5,700 |
| Annual Per SF | $1.45 |
| Vacancy Loss | |
|---|---|
| Annual | $2,527 |
| Annual Per SF | $0.64 |
| Effective Gross Income | |
|---|---|
| Annual | $91,923 |
| Annual Per SF | $23.41 |
| Taxes | |
|---|---|
| Annual | $11,500 |
| Annual Per SF | $2.93 |
| Operating Expenses | |
|---|---|
| Annual | $21,260 |
| Annual Per SF | $5.42 |
| Total Expenses | |
|---|---|
| Annual | $32,760 |
| Annual Per SF | $8.34 |
| Net Operating Income | |
|---|---|
| Annual | $59,163 |
| Annual Per SF | $15.07 |
PROPERTY FACTS Under Contract
| Price | $900,000 | Apartment Style | Garden |
| Price Per Unit | $180,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 6.57% | Building Size | 3,926 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 2.55/1,000 SF |
| Zoning | R2.5 | ||
| Price | $900,000 |
| Price Per Unit | $180,000 |
| Sale Type | Investment |
| Cap Rate | 6.57% |
| Sale Condition | 1031 Exchange |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 3,926 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1969 |
| Parking Ratio | 2.55/1,000 SF |
| Zoning | R2.5 |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Fireplace
- Hardwood Floors
- Refrigerator
- Range
- Carpet
- Double Pane Windows
SITE AMENITIES
- Laundry Facilities
- Pet Play Area
- Recycling
- Smoke Free
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,400 | 540 |
| 4+2 | 1 | $2,348 | 1,292 |
1 1
Walk Score®
Walker's Paradise (92)
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | R182047 | Total Assessment | $475,610 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | $11,500 ($2.93/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
R182047
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$475,610 (2025)
Annual Taxes
$11,500 ($2.93/SF)
Tax Year
2023
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2610-2618 NE Clackamas St
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