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Listed by Legend Real Estate Services
$ 1,399,900
Est. payment | /mo
13,383 SqFt
$ 1,399,900
Est. payment | /mo
13,383 SqFt
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 13,383 sqft
Price per Sqft $104
MLS Listing ID 24243952
Year Built 1905
Annual Tax Amount $14,173
Tax Year 2024
Property Description
Actual CAP RATE 8.9 with only 75 percent of the square footage occupied. Own a piece of History built in 1905, a Historical Registered Building. This building brings in $14,642 monthly income on just 2 of the floors. The basement has approximately 3230 square feet of vacant space and the top floor is empty, approximately 796 sq ft, with more square footage to finish. The second floor, approximately 4837 sqft, has 13 bedrooms, 5.1 bathrooms, and 4 kitchens rented by a non-profit that provides discounted property taxes. The 1st floor, approximately 4522 sq ft, has two rented retail spaces and one occupied apartment. One tenant occupies two retail spaces; there are actually 3 retail spaces on the first floor. The following maintenance has been performed to the building: the roof was done in 2020; the Fire Sprinkler System was installed in 2020-2023; the Plumbing upgrade in 2023; the sewer line to the street was replaced in 2023; the basement waterproofing in 2023; Foundation post upgrade 2023, water heater for the building was installed 2020, and First floor HVAC 2019 and 2021. First-floor leases have a 4% annual increase for retail space and 2nd floor 3% annual increase.
Location
State OR
County Clackamas
Area _146
Zoning MUC
Interior
Heating Mini Split
Equipment Sprinkler
Exterior
Roof Type Composition
Garage No
Building
Story 3
Sewer Public Sewer
Water Public Water
Level or Stories 3
Others
Acceptable Financing CallListingAgent, Cash, Conventional, Other
Listing Terms CallListingAgent, Cash, Conventional, Other
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