6-Unit Multi-Family Investment 1805 NE 8 th Avenue, Portland, Oregon 97212 MULTI-FAMILY INVESTMENT PROPERTY 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 Interior 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 Safeway Lloyd Center Max Station Holladay Park Station Post Office Cadillac Cafe Holladay Park Blossoming Lotus 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.
Property Description Schuyler Court is an attractive, pride of ownership, single level apartment building located in the highly desirable Irvington neighborhood of close-in NE Portland. Built in 1940 the property is situated on a 5,000 SF corner lot and comprises six (6) 1BR/1BA units with hardwood floors and tiled kitchens and baths. The apartments are all individually metered for electricity, and there are individual storage units in the basement along with coin-op laundry. This turn-key property features a newer roof and exterior paint, and in-place market rents. Schuyler Court features strong curb appeal with attractive low maintenance landscaping. This is a fantastic location considered a Biker s and a Walker s Paradise with scores of 99 and 91 respectively, and situated near Lloyd Center with abundant restaurants, markets, coffee shops, and just minutes to Downtown Portland with easy access to public transportation 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: $1,350,000 Down Payment: 35% $472,500 Number of Units: 6 Location 1805 NE 8th Avenue Portland, Oregon 97212 Financing Summary New Multi-Family Loan in the amount of Price/Unit: $225,000 $877,500 Building/SF: 3,842 at 4.50% Principal and Interest Amortized over 30 Years Price/SF $351 Current Cap: 4.75% Market Cap: 5.21% Parcel ID Current GIM 15.1 Lot Size Market GIM 14.0 Utilities paid by Tenant Additional Information R182544 0.11 Acre (5,000 SF) Electricity Year Built: 1940 INCOME Annualized Operating Data Annualized Expenses Current Market 2017 Actual % EGI Per Unit EXPENSES Scheduled Rent Income $85,020 $92,280 Taxes $5,441 - $907 RUBS/Pet Rent/Laundry $7,100 $7,100 Insurance $1,842 - $307 Scheduled Gross Income $92,120 $99,380 Water & Sewer $2,555 - $426 Less: Vacancy (3%) ($2,764) ($2,981) Trash/Recycling $980 - $163 Effective Gross Income $89,356 $96,399 Gas & Electricity $1,262 - $210 Less: Expenses ($25,196) ($26,112) Management $5,361 6.00% $894 Net Operating Income $64,160 $70,287 Maintenance & Repairs $3,574 4.00% $596 Turnover & Cleaning $2,681 3.00% $447 Year 1 Debt Service ($53,354) ($53,354) Reserves $1,500 - $250 Pre-Tax Cash Flow $10,806 $16,933 Principal Reduction $14,156 $14,156 Total Expenses $25,196 28.2% $4,199 Total Return 5.3% $24,962 6.6% $31,089 Cash Yield 2.3% $10,806 3.6% $16,933 Scheduled Income Current Market Total Units Unit Type Approximate SF/Unit Rent Rent/PSF Rent Rent PSF 1 1BR-1BA 550 SF $1,250 $2.27 $1,295 $2.35 1 1BR-1BA 513 SF $1,195 $2.33 $1,295 $2.52 4 1BR-1BA 434 SF $945 - $1,275 $2.18 - $2.94 $1,275 $2.94 6 $7,085 $7,690 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 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.
RENT SURVEY PROPERTY LOCATION Schuyler Court 1805 NE 8th Ave Portland, OR 97212 YEAR BUILT TOTAL # OF UNITS UNIT TYPE 1940 6 1 1BR/1BA 1 1BR/1BA 4 1BR/1BA UNIT SF 550 513 434 CURRENT RENT RENT/PSF SOURCE PHOTO $1250 $2.27 Owner $1195 $2.33 $945 - $1275 $2.18 - $2.94 *Subject Property La Bonita Apts 2505 NE 12th Ave Portland, OR 97212 1940 10 1BR/1BA 600 $1395 & $70 W/S/G Bill Back $2.28 Craigslist 12/18/17 2007 NE Broadway St Portland, OR 97232 2014 14 1BR/1BA 370 $1195 $3.23 Craigslist 12/13/17 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.
RECENT SALES COMPARABLES PROPERTY LOCATION Schuyler Court 1805 NE 8th Ave Portland, OR 97212 YEAR PRICE / PRICE / BUILT # UNITS UNIT MIX / COMMENTS PRICE UNIT SF SOLD PHOTO 1940 6 6 1BR/1BA $1,350,000 $225,000 $351 TBD LISTED by 3005 SE Morrison St Portland, OR 97214 1932 8 8 1BR/1BA $1,850,000 $231,250 $264 Nov 2017 1512 SE Hawthorne Portland, OR 97214 1972 6 4 2BR/1BA 2 1BR/1BA $1,200,000 $200,000 $154 Oct 2017 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.
PROPERTY LOCATION 826 N Humboldt St Portland, OR 97217 YEAR PRICE / PRICE / BUILT # UNITS UNIT MIX / COMMENTS PRICE UNIT SF SOLD PHOTO 1928 7 7 1BR/1BA $1,360,000 $194,286 $251 May 2017 2934 SE Morrison St Portland, OR 97214 SOLD by 1908 8 1 3BR/1.5BA 2 2BR/2BA 1 2BR/1BA 4 1BR/1BA Vintage Pride of Ownership Building with Modernized Units. $2,100,000 1031 Exchange. $262,500 $259 Jan 2017 1426 SE 25 th Ave Portland, OR 97214 1915 8 1 4BR/1BA 2 2BR/1BA 3 1BR/1BA 2 Studio $1,900,000 $237,500 $302 Dec 2016 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.