ne weidler four-plex $829,000...ne weidler four-plex 1910 ne weidler st., portland, or 97232...
TRANSCRIPT
FOR MORE INFORMATION:Phillip BarrySenior Broker
(503) [email protected]
NE Weidler Four-Plex1910 NE Weidler St., Portland, OR 972324 units
$829,000
PROPERTY ANALYSIS
The Professional Approach to Apartment Investing.
OR • WA • AZ • josephbernard.net1
BUILDING
Price: $829,000Units: 4Price/Unit: $207,250Building Sq Ft: 4,298*Price/Sq Ft: $192.88GRM: 16.22Year Built: 1907Lot Size: 7,500 sq ftCounty: Multnomah
NE Weidler Four-Plex1910 NE Weidler St., Portland, OR 97232
INVESTMENT SUMMARY
The Professional Approach to Apartment Investing.
OR • WA • AZ • josephbernard.net
DESCRIPTION
Rare opportunity to purchase a vintage Four-Plex in the Sullivan Gulch neighborhood of NEPortland. Value add opportunity through rent growth and the continued development of theurban core of NE Portland. Perfect set up for an owner-occupant, with large 2BR unit on the mainfloor, and three studio units above. Airbnb potential. Detached 528 sq. foot garage provides thepotential for additional storage/parking on site. Corner Lot, with ample parking & greenspace.*Studio and 2BR unit are currently vacant and have estimated rents factored at $900 and $1800.
*Square Footage Includes: 2,690 of unit square footage, 1,080 of unfinished basement(laundry/storage), and 528 sq. feet for the detached garage.
HIGHLIGHTS
• Value Add Opportunity• Fantastic Close in NE Portland Location• Great floor plan for owner-occupied• Off-Street Parking & Garage on-site• Vintage Charm
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FINANCIAL ANALYSIS
The Professional Approach to Apartment Investing.
OR • WA • AZ • josephbernard.net
Scheduled Monthly Rents
Units Type Est. SF*Current Average
RentMonthly Income Rent at Market Monthly Income
1 Studio 408 $700 $700 $900 $900
1 Studio 408 $860 $860 $900 $900
1 Studio 408 $900 $900 $900 $900
1 2BR + 1 BA 1,466 $1,800 $1,800 $1,800 $1,800
4 $4,260 1 $4,500
Scheduled Gross Income $51,120 $54,000
Effective Gross Income $51,120 $54,000
• Plus: Potential Parking Income +$2,400 2 +$2,400
Effective Annual Income $53,520 $56,400
Estimated Expenses
Current Budget
%EGI Per/Unit Amount %EGI Per/Unit Amount3 Taxes 10.36% $1,324 $5,296 9.81% $1,324 $5,2964 Insurance 2.73% $349 $1,396 2.59% $349 $1,3964 Utilities 9.57% $1,223 $4,891 9.06% $1,223 $4,8915 Maintenance & Repairs 2.35% $300 $1,200 2.22% $300 $1,2005 Turnover Reserves 1.56% $200 $800 1.48% $200 $8004 Landscaping 3.52% $450 $1,800 3.33% $450 $1,8005 Capital Reserves 1.56% $200 $800 1.48% $200 $800
Total Est. Annual Expenses 31.66% $4,046 $16,183 29.97% $4,046 $16,183
of EGI Per Unit of EGI Per Unit
Investment Summary
Current Projected
Net Operating Income (NOI) $37,337 $40,217
Gross Rent Multiplier 16.22 15.35
Footnotes
1. Current Rents: $700, $860 for occupied studios. Vacant Units: Studio & 2BR are estimated market rents, $900 and $1,800.2. Potential Garage Income Estimated at $200/month. 2 spaces, detached 528 sq. foot garage on-site (Seller currently uses
this space for personal storage).3. Actual 2018-2019 Property Taxes, with 3% Oregon Prepay discount.4. Actual 2018 Expense, as reported by seller.5. Budget Estimates for Repairs, Turnover & Capital Reserves.* Studio average square footage reported at 408 sq. feet, but size may vary between the 3 units.
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EXTERIOR PHOTOS
The Professional Approach to Apartment Investing.
OR • WA • AZ • josephbernard.net4
INTERIOR PHOTOS
The Professional Approach to Apartment Investing.
OR • WA • AZ • josephbernard.net5
INTERIOR PHOTOS
The Professional Approach to Apartment Investing.
OR • WA • AZ • josephbernard.net6
INTERIOR PHOTOS
The Professional Approach to Apartment Investing.
OR • WA • AZ • josephbernard.net7
AWARDS & RECOGNITIONS
The Professional Approach to Apartment Investing.
OR • WA • AZ • josephbernard.net8
America's Fastest Growing Private Companies
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All Star Award for Advertising and Marketing Excellence
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CONTACT INFO
The Professional Approach to Apartment Investing.
OR • WA • AZ • josephbernard.net9
FOR MORE INFORMATION:Phillip Barry
Senior Broker
(503) [email protected]
Oregon Washington Arizona Southern Arizona
5200 SW Macadam Ave, Suite 300
Portland, OR 97239
4400 NE 7th Ave, Suite 275
Vancouver, WA 98662
9927 E Bell Rd,Suite 130
Scottsdale, AZ 85260
One South Church Ave,Suite 1200
Tucson, AZ 85701
(503) 546-9390 (360) 255-0255 (480) 305-5600 (520) 428-0850
The information contained in this package has been obtained from sources we believe to be reliable. While we do not doubt its accuracy, we make noguarantee, warranties or representation, expressed or implied, as to the accuracy. It is the buyers’ sole responsibility to independently confirm itsaccuracy and completeness and bears all risk for any discrepancies. Any projections, square footage, age, opinions, assumptions, or estimates used arefor example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax andother factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independentinvestigation of the property to determine your satisfaction and the suitability of the property for your needs. Parties that receive this information fromoutside of Joseph Bernard, LLC representatives will not be recognized.