4-Unit Multi-Family Investment 3051 SE Belmont Street, Portland, Oregon 97214 MULTI-FAMILY INVESTMENT ANALYSIS 136 NE 28 th Avenue Portland, Oregon 97232 503-327-8237 Office 503-954-3087 Fax www.equitypacificrealestate.com
Subject Property Exterior Photos This information has been secured from sources we believe to be reliable, but Equity Pacific Real Estate LLC makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Subject Property Neighborhood Photos Laurelhurst Theater Whole Foods Market Dick s Kirchen Accanto Colonel Summers Park Laurelhurst Park This information has been secured from sources we believe to be reliable, but Equity Pacific Real Estate LLC makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
INVESTMENT SUMMARY Summary Price: $899,000 Down Payment: 25% $224,750 Number of Units: 4 Location 3051 SE Belmont St Financing Summary New Non-Owner Occupied Residential Loan in the amount of Price/Unit: $224,750 $674,250 Building/SF: 3,298 at 5.50% Principal and Interest Amortized over 30 Years Price/SF $273 Current Cap: 5.13% Market Cap: 5.72% Parcel ID Current GIM 15.5 Lot Size Market GIM 14.2 Utilities paid by Tenant Additional Information R280478 0.13 Acre (5,787 SF) Electricity Year Built: 1914 INCOME Annualized Operating Data Annualized Expenses Current Market 2018 Estimate % EGI Per Unit EXPENSES Scheduled Rent Income: $54,900 $60,300 Taxes $6,747 - $1,687 Storage / Laundry $4,800 $4,800 Insurance $1,800 - $450 Scheduled Gross Income: $59,700 $65,100 Water & Sewer $2,200 - $550 Less: Vacancy (3%) ($1,791) ($1,953) Trash/Recycling $572 - $143 Effective Gross Income: $57,909 $63,147 Electricity & Gas $434 - $109 Less: Expenses: ($11,753) ($11,753) Net Operating Income $46,156 $51,394 Year 1 Debt Service ($45,940) ($45,940) Total Expenses $11,753 20.3% $2,938 Pre-Tax Cash Flow $216 $5,454 Principal Reduction $9,083 $9,083 Total Return 4.1% $9,299 6.5% $14,537 Cash Yield 0.1% $216 2.4% $5,454 Scheduled Income Current Market Total Units Unit Type Approximate SF/Unit Rent Rent/PSF Rent Rent PSF 1 1BR-1BA 800 SF $1,335 $1.67 $1,465 $1.83 1 1BR-1BA 600 SF $1,175 $1.96 $1,290 $2.15 1 Studio 530 SF $1,015 $1.92 $1,115 $2.10 1 Studio 485 SF $1,050 $2.16 $1,155 $2.10 4 $4,575 $5,025 This information has been secured from sources we believe to be reliable, but Equity Pacific Real Estate LLC makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
AERIAL PHOTOS
RENT SURVEY 3051 SE Belmont St BUILT TOTAL # OF UNITS UNIT TYPE 1914 4 2-1BR/1BA 2 - Studio UNIT SF 600-800 485-530 CURRENT RENT RENT/PSF SOURCE PHOTO $1175 - $1335 $1.67 - $1.96 Owner $1015 - $1050 $1.92 - $2.16 *Subject Property 4206 SE Salmon St Portland, OR 97215 1950 24 1BR/1BA 566 $1270 $2.24 Craigslist 6/1/18 Cedarhurst Village 1616 SE Cesar E Chavez Blvd 2004 45 Studio 420 $1000 $2.38 Craigslist 6/1/18
Oak Manor 2021 SE Oak St BUILT TOTAL # OF UNITS UNIT TYPE UNIT SF 1947 15 1BR/1BA 627 $1395 $2.22 Craigslist 5/18/18 CURRENT RENT RENT/PSF SOURCE PHOTO 1932 SE Madison St 1907 6 1BR/1BA 600 $1300 $2.17 Craigslist 5/18/18 904 SE 20th Ave 1923 9 1BR/1BA 600 $1245 $2.08 Craigslist 5/18/18
2835 SE Yamhill St BUILT TOTAL # OF UNITS UNIT TYPE UNIT SF 1909 4 1BR/1BA 620 $1395 $2.25 RMLS 4/16/18 CURRENT RENT RENT/PSF SOURCE PHOTO 2921 SE Alder St 1942 6 1BR/1BA 469 $1150 & $25 W/S/G Bill Back $2.45 Craigslist 4/12/18 Laurelhurst Manor 3710 SE Stark St 1947 12 1BR/1BA 598 $1340 $2.24 Craigslist 4/12/18
RECENT SALES COMPARABLES 1842 SE Ankeny St BUILT # UNITS UNIT MIX / COMMENTS 1884 4 2-1BR/1BA 2 - Studio PRICE / PRICE / PRICE UNIT SF GRM SOLD PHOTO $899,000 $224,750 $273 15.5 TBD *Subject Property 933 NE 22nd Ave Portland, OR 97232 2013 4 4 2BR/1BA $1,059,000 $264,750 $235 13.4 Active 3745 SE Belmont St 1906 4 3 1BR/1BA 1 Studio $949,000 $237,250 $449 15.7 Active
2625 SE Stark St BUILT # UNITS UNIT MIX / COMMENTS 1884 4 2 1BR/1BA 1 1BR/1BA 1 Studio PRICE / PRICE / PRICE UNIT SF GRM SOLD PHOTO $929,000 $232,250 $257 15.4 Active LISTED by Open, Off-Street Parking. Private Garden Backyard. 2835 SE Yamhill St 1909 4 4 1BR/1BA $969,900 $242,475 $260 19.6 Active 5411 SE 17 th Ave Portland, OR 97202 1963 4 4 2BR/1BA $849,800 $212,450 $211 14.4 Pending 1737 NE 22nd Ave Portland, OR 97212 1952 4 4 2BR/1BA $1,100,000 $275,000 $286 14.0 April 2018
919 NE Alberta St Portland, OR 97211 UNIT MIX / PRICE / PRICE / BUILT # UNITS COMMENTS PRICE UNIT SF GRM SOLD PHOTO 1943 4 4 1BR/1BA $980,000 $245,000 $281 14.5 March 2018 2335 SE Ash St 1945 4 3 2BR/1BA 1 1BR/1BA $1,050,000 $262,500 $328 13.0 Aug 2017 5222 NE Couch St Portland, OR 97213 1960 4 4 1BR/1BA $988,095 $247,024 $366 16.1 June 2017 SOLD by 911 SE 26 th Ave 1913 4 4 1BR/1BA $895,000 $223,750 $296 13.9 June 2017
2240 NE 14 th Ave Portland, OR 97212 UNIT MIX / PRICE / PRICE / BUILT # UNITS COMMENTS PRICE UNIT SF GRM SOLD PHOTO 1908 4 4 2BR/1BA $1,250,000 $312,500 $290 16.2 Dec 2016 5610 N Greeley Ave Portland, OR 97217 2016 4 4 2BR/1BA $1,110,000 $277,500 $286 13.9 Nov 2016 5516 NE Hoyt St Portland, OR 97213 1966 4 3 2BR/1BA 1 1BR/1BA $850,000 $212,500 $257 13.8 Oct 2016 SOLD by 2905 SE Alder St 1927 4 1-2BR/1BA 3 1BR/1BA $1,495,000 $373,750 $349 NA Sept 2016