TRIPLEX NE 24TH AVENUE PORTLAND, OREGON

Transcription

1 TRIPLEX NE 24TH AVENUE PORTLAND, OREGON $950,000 PROPERTY DESCRIPTION Built in 1971, this centrally located asset is made up of three fully renovated, two bedroom one bathroom units of 865 square feet. Near many popular east side amenities and with excellent access to transportation, this property boasts an overall walk score of 94 and a perfect bike score of 100. Some of the many property features include a new roof, extra storage, stainless steel appliances, hardwood floors, washer dryer hook ups, back patios, onsite parking and additional rental upside. KERNS 2,595 SF :1 100% SUBMARKET SIZE BUILT UNITS PARKING RATIO OCCUPANCY

2 UNIT MIX UNIT # UNIT TYPE APROX SF MO RENT ANN RENT MO RENT/SF 121 2bd/1ba 865 $1,700 $20,400 $ bd/1ba 865 $1,500 $18,000 $ bd/1ba 865 $1,580 $18,960 $1.83 UNIT MIX PRICING SUMMARY: $950,000 ACTUAL NOI $37,457 PRO FORMA NOI $50,670 GRM PER UNIT PER SF $316, $ GRM PER UNIT PER SF $316, $ x1 100% REVENUE $ PER YEAR % OF GROSS REV $ PER UNIT $ PER SF Gross Potential/Tenant Rent $57, % $19,120 $22.10 Total Gross Revenue $57, % $19,120 $22.10 Total Vacancy/Collection Loss ($2,868) -5% ($956) ($1.11) Effective Gross Revenue $54,492 95% $18,164 $21.00 OPERATING EXPENSES $ PER YEAR % OF GROSS REV $ PER UNIT $ PER SF Property Management ($2,725) -5% ($908) ($1.05) Maintenance ($2,850) -5% ($950) ($1.10) Turnover ($450) Maintenance/Operating ($1,200) Landscaping/Contract Serv ($1,200) Utilities ($3,290) -6% ($1,097) ($1.27) Trash Removal ($1,190) Water and Sewer ($2,100) Property Insurance ($600) -1% ($200) ($0.23) Capital Reserves ($750) -1% ($250) ($0.29) Real Estate Taxes ($6,820) -12% ($2,273) ($2.63) Total Operating Expense ($17,035) -30% ($5,678) ($6.56) Net Operating Income $37,457 65% $12,486 $14.43 Cash Flow Before Debt $37,457 65% $12,486 $14.43 You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.

3 1 2 SALES COMPARABLESW ADDRESS YEAR BUILT SALES PRICE Subject Property NE 24th Ave Portland, OR SE Main St 1407 SE Oak St # OF UNITS $/UNIT SOLD DATE 1971 $950,000 3 $316, $717,500 2 $358,750 7/27/ $985,000 3 $328,333 6/15/ NE Wygant St Portland, OR $960,100 3 $320,033 5/6/ SE 37th Ave 1976 $925,000 2 $462,500 5/2/ NE Everett St Portland, OR $970,125 4 $242,531 3/30/2016 Averages 1943 $911,545 3 $342,430 Layout ID:L01 MapId: CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. This valuation analysis or broker opinion of value (should say broker price opinion if this is done in Texas or Nevada) is not an appraisal and has not been performed in accordance with the Uniform Standards of Professional Appraisal Practice. Neither you, nor any third parties, may rely on this analysis for any tax purposes, estate work, litigation, lending or any other matter other than your direct use in connection with a contemplated transaction.

4 Capi t al Mar k e t s In v e st m e n t Pr o pe r t i e s PROPERTY PHOTOS Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.

5 Capi t al Mar k e t s In v e st m e n t Pr o pe r t i e s AMENITIES MAP LLOYD CENTER PAMBICHE Oregon Convention Center MIGRATION BREWING Buckman Field Park LVD NE YB ND SA DA VINCI MIDDLE SCHOOL VOODOO DOUGHNUTS E BURNSIDE ST FIRE ON THE MTN LAURELHURST THEATRE SCREEN DOOR Laurelhurst Park SE STARK ST SE MORRISON ST JARED WHIPPS Senior Associate jared.whipps@cbre.com CENTRAL CATHOLIC HS BAMBOO SUSHI SYDNEY BOWMAN Associate sydney.bowman@cbre.com 2017 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. This valuation analysis or broker opinion of value (should say broker price opinion if this is done in Texas or Nevada) is not an appraisal and has not been performed in accordance with the Uniform Standards of Professional Appraisal Practice. Neither you, nor any third parties, may rely on this analysis for any tax purposes, estate work, litigation, lending or any other matter other than your direct use in connection with a contemplated transaction. GOODFOOT CBRE, Inc 1300 SW Fifth Ave Suite 3000 Portland, OR Brokers are licensed in OR