4-Unit Multi-Family Investment 1842 SE Ankeny Street, Portland, Oregon 97214 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 - #1842 (1BR/1BA) 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 - #1844 (Studio) 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 Screen Door Luce Colonel Summers Park Central Catholic High School 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.
1842-1848 SE ANKENY STREET RENT ROLL Unit # Unit Type Move-in Date Lease End Date Rent 1842 1BR/1BA 2/24/17 MTM $1,350 1844 Studio 8/28/17 8/31/18 $1,185 1846 Studio 11/1/16 MTM $1,100 1848 1BR/1BA 12/20/16 11/30/18 $1,150 $4,785 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: $925,000 Down Payment: 30% $277,500 Number of Units: 4 Location 1842 SE Ankeny St Financing Summary New Non-Owner Occupied Residential Loan in the amount of Price/Unit: $231,250 $647,500 Building/SF: 4,063 at 5.50% Principal and Interest Amortized over 30 Years Price/SF $228 Current Cap: 4.94% Market Cap: 5.52% Parcel ID Current GIM 16.4 Lot Size Market GIM 14.9 Utilities paid by Tenant Additional Information R123158 0.09 Acre (4,088 SF) Electricity Year Built: 1884 INCOME Annualized Operating Data Annualized Expenses Current Market 2018 Estimate % EGI Per Unit EXPENSES Scheduled Rent Income: $57,420 $63,000 Taxes $5,909 - $1,477 Laundry $800 $800 Insurance $1,800 - $450 Scheduled Gross Income: $58,220 $63,800 Water & Sewer $2,000 - $500 Less: Vacancy (3%) ($1,747) ($1,914) Trash/Recycling $687 - $172 Effective Gross Income: $56,473 $61,886 Common Gas $400 - $100 Less: Expenses: ($10,796) ($10,796) Net Operating Income $45,678 $51,090 Year 1 Debt Service ($44,117) ($44,117) Total Expenses $10,796 19.1% $2,699 Pre-Tax Cash Flow $1,560 $6,973 Principal Reduction $8,722 $8,722 Total Return 3.7% $10,283 5.7% $15,695 Cash Yield 0.6% $1,560 2.5% $6,973 Scheduled Income Current Market Total Units Unit Type Approximate SF/Unit Rent Rent/PSF Rent Rent PSF 1 1BR-1BA 725 SF $1,350 $1.86 $1,485 $2.05 1 1BR-1BA 720 SF $1,150 $1.60 $1,265 $1.76 1 Studio 550 SF $1,185 $2.15 $1,300 $2.36 1 Studio 550 SF $1,100 $2.00 $1,200 $2.36 4 $4,785 $5,250 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 PROPERTY LOCATION 1842 SE Ankeny St YEAR BUILT TOTAL # OF UNITS UNIT TYPE 1884 4 1-1BR/1BA 1-1BR/1BA 2 - Studio UNIT SF 725 720 550 CURRENT RENT RENT/PSF SOURCE PHOTO $1350 $1.86 Owner $1150 $1.60 $1100 - $1185 $2.00 - $2.15 *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
PROPERTY LOCATION Oak Manor 2021 SE Oak St YEAR 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
PROPERTY LOCATION 2835 SE Yamhill St YEAR 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 PROPERTY LOCATION 1842 SE Ankeny St YEAR BUILT # UNITS UNIT MIX / COMMENTS 1884 4 2-1BR/1BA 2 - Studio PRICE / PRICE / PRICE UNIT SF GRM SOLD PHOTO $925,000 $231,250 $228 16.4 TBD *Subject Property 3745 SE Belmont St 1906 4 3 1BR/1BA 1 Studio $925,000 $231,250 $438 15.3 Active 2625 SE Stark St LISTED by 1884 4 2 1BR/1BA 1 1BR/1BA 1 Studio Open, Off-Street Parking. Private Garden Backyard. $919,000 $229,750 $254 15.2 Active 933 NE 22nd Ave Portland, OR 97232 2013 4 4 2BR/1BA $1,059,000 $264,750 $235 13.4 Pending
PROPERTY LOCATION 2835 SE Yamhill St YEAR UNIT MIX / PRICE / PRICE / BUILT # UNITS COMMENTS PRICE UNIT SF GRM SOLD PHOTO 1909 4 4 1BR/1BA $969,900 $242,475 $260 19.6 Pending 1003 SE 23 rd Ave 1947 4 1 2BR/1BA 3 1BR/1BA $1,075,000 $268,750 $219 21.5 July 2018 SOLD by 3 Garages 1023 SE 21 st Ave SOLD by 1927 4 4 1BR/1BA w/ Private Basement & Washer / Dryer $1,270,000 $317,500 $258 18.6 June 2018 1737 NE 22nd Ave Portland, OR 97212 1952 4 4 2BR/1BA $1,100,000 $275,000 $286 14.0 April 2018
PROPERTY LOCATION 919 NE Alberta St Portland, OR 97211 YEAR 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
PROPERTY LOCATION 2240 NE 14 th Ave Portland, OR 97212 YEAR 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