SELLER CARRY FINANCING with terrific terms! Extraordinary opportunity to acquire a meticulously updated TRI-PLEX in a highly desirable location. Each unit has 2 spacious bedrooms, an updated bath, a generous 800 sf of living space. All units have been enhanced with new kitchen cabinets, appliances, including washer & dryers, plush carpeting, fresh paint and efficient ductless heating units with air conditioning. The energy-conscious vinyl windows and sliders further enhance the appeal of these units, while private patios front & back provide a serene outdoor retreat. Currently occupied by reliable tenants under 2-3 year leases, the property represents a secure investment opportunity. Seller is offering an attractive 4.5% interest rate land sales contract amortized over 30 years with a 5 year balloon, 25%down. To qualify, buyers must possess excellent credit history and furnish current credit reports. Act swiftly to secure this one-of-a-kind opportunity, as it is unlikely to be available again. Subject to interior inspection. Please do not disturb tenants.
View full listing details| Price: | $678,000 |
| Address: | 1870 N MAIN AVE |
| City: | Gresham |
| County: | Multnomah |
| State: | Oregon |
| Zip Code: | 97030 |
| MLS: | 23078406 |
| Year Built: | 1967 |
| Square Feet: | 2,400 |
| attachedGarageYN: | no |
| bankOwnedYN: | no |
| basement: | Crawl Space |
| capRate: | 6.36 |
| cooling: | Heat Pump |
| coolingYN: | yes |
| country: | US |
| currentPriceForStatus: | 678000 |
| directions: | Burnside, North on Kelly, becomes 18th St, right on Main Ave. |
| disclosures: | Disclosure |
| elementarySchool: | Highland |
| exteriorDescription: | Wood Siding |
| fuelDescription: | Electricity |
| garageSpaces: | 6 |
| greenCertificationYN: | no |
| grossIncome: | 54000 |
| grossRentMultiplier: | 12.56 |
| grossScheduledIncome: | 55200 |
| heating: | Ductless |
| heatingYN: | yes |
| highSchool: | Gresham |
| hotWaterDescription: | Electricity |
| investorInformation: | Leases |
| listingTerms: | Contract |
| lotFeatures: | Corner Lot, Level |
| lotSizeRange: | 10, 000 to 14, 999 SqFt |
| middleOrJuniorSchool: | Clear Creek |
| mlsAreaMajor: | Gresham, Sandy, Troutdale, Corbett |
| netOperatingIncome: | 43116 |
| netScheduledIncome: | 42516 |
| numberOfUnitsTotal: | 3 |
| operatingExpense: | 10884 |
| operatingExpenseScheduled: | 12684 |
| parkingFeatures: | Paved |
| parkingTotal: | 6 |
| propertyAttachedYN: | no |
| propertyCondition: | Updated/Remodeled |
| rentIncludes: | Maintenance Grounds, Sewer, Trash Collection, Water |
| roadSurfaceType: | Paved |
| roof: | Composition |
| sewer: | Public Sewer |
| shortSaleYN: | no |
| storage: | Attached |
| stories: | 1 |
| taxAnnualAmount: | 4582 |
| taxYear: | 2023 |
| thirdPartyApprovalYN: | no |
| unitType1ActualRent: | 1450 |
| unitType1Area: | 800 |
| unitType1BathsTotal: | 1 |
| unitType1BedsTotal: | 2 |
| unitType1Features: | Air Conditioning, Range, Refrigerator, Washer/Dryer |
| unitType1UnitsTotal: | 1 |
| unitType2ActualRent: | 1400 |
| unitType2Area: | 800 |
| unitType2BathsTotal: | 1 |
| unitType2BedsTotal: | 2 |
| unitType2Features: | Air Conditioning, Range, Refrigerator, Washer/Dryer |
| unitType2UnitsTotal: | 1 |
| unitType3ActualRent: | 1650 |
| unitType3Area: | 800 |
| unitType3BathsTotal: | 1 |
| unitType3BedsTotal: | 2 |
| unitType3Features: | Air Conditioning, Range, Refrigerator, Washer/Dryer |
| unitType3UnitsTotal: | 1 |
| unitTypeType: | 1, 2, 3 |
| viewYN: | no |
| waterSource: | Public Water |
