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Belmont 4 plex 903 SE 17th Ave 4 Unit Apartment Building $1,600,000 ($400,000/Unit) 4.70% Cap Rate Portland, OR 97214
Investment Highlights
- Each unit is separately metered and therefore utilities are all paid by the Tenant.
- Spacious unit with all self contained amenities.
- Delightful balcony on 2nd floor unit.
Executive Summary
Architectural Masterpiece - 1909. Adjacent to Buckman park - Prime SE location. Additional 2,500 SF of land to the South.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$109,220
|
$16.95
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,461
|
$0.85
|
| Effective Gross Income |
$103,759
|
$16.10
|
| Taxes |
$13,453
|
$2.09
|
| Operating Expenses |
$14,983
|
$2.33
|
| Total Expenses |
$28,436
|
$4.41
|
| Net Operating Income |
$75,323
|
$11.69
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $109,220 |
| Annual Per SF | $16.95 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $5,461 |
| Annual Per SF | $0.85 |
| Effective Gross Income | |
|---|---|
| Annual | $103,759 |
| Annual Per SF | $16.10 |
| Taxes | |
|---|---|
| Annual | $13,453 |
| Annual Per SF | $2.09 |
| Operating Expenses | |
|---|---|
| Annual | $14,983 |
| Annual Per SF | $2.33 |
| Total Expenses | |
|---|---|
| Annual | $28,436 |
| Annual Per SF | $4.41 |
| Net Operating Income | |
|---|---|
| Annual | $75,323 |
| Annual Per SF | $11.69 |
Property Facts
| Price | $1,600,000 | Apartment Style | Garden |
| Price Per Unit | $400,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 4.70% | Building Size | 6,444 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1909 |
| Property Subtype | Apartment | ||
| Zoning | R 2.5 - Multi Family/ Duplex. There are 2 identical duplexes = total 4 Plex | ||
| Price | $1,600,000 |
| Price Per Unit | $400,000 |
| Sale Type | Investment |
| Cap Rate | 4.70% |
| Sale Condition | 1031 Exchange |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 6,444 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1909 |
| Zoning | R 2.5 - Multi Family/ Duplex. There are 2 identical duplexes = total 4 Plex |
Amenities
- Smoke Detector
Unit Amenities
- Balcony
- Cable Ready
- Dishwasher
- Storage Space
- Washer/Dryer
- Heating
- Ceiling Fans
- Crown Molding
- Kitchen
- Hardwood Floors
- Vaulted Ceiling
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Yard
- Attic
- Basement
- Built-In Bookshelves
- Deck
- Dining Room
- Garden
- Smoke Free
- Window Coverings
- Large Bedrooms
Site Amenities
- Courtyard
- Fenced Lot
- Recycling
- Smoke Free
- Trash Pickup - Curbside
- Vintage Building
- Storage Space
- Public Transportation
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $2,195 | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Good public transit
70/100
Very bikeable
80/100
Property Taxes
| Parcel Numbers | Total Assessment | $627,820 | |
| Land Assessment | $0 | Annual Taxes | $13,453 ($2.09/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$627,820
Annual Taxes
$13,453 ($2.09/SF)
Tax Year
2025
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Presented by
Ruggles Commercial Realty
Belmont 4 plex | 903 SE 17th Ave
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