If you are looking for your next investment property, we have the perfect 4 unit complex for you in Milwaukie. This property qualifies for owner-occupied living, live in one unit and have the tenants pay your mortgage!
All units are fully occupied and very well maintained. On the ends, we have two one level, two-bedroom units with single bathrooms. And for the interior units, we have two two-story, three-bedroom, single bathroom homes. Rents have room to increase and should be between $1,350 and $1,550 per month. All units include water, sewer, and garbage. Each tenant pays their own power.
With rents low, your cap rate is at nearly 6% with Gross Rent Multiplier at a 13, the property will pay for itself in no time! Increase rents to better your bottom dollar and watch those numbers grow! The current owner has all financial documents for your review. All utilities, expenses, and rental income has been logged well.
The property has been updated and very-well maintained over the last 5 years. Some of the updates include a new roof, both flat top and composite, new siding and carport repairs with board and batten, new fencing, and landscaping. One unit has been fully renovated.
The particular neighborhood of Fair Oaks in Milwaukie is very well centralized. Highways are close by, as are shopping centers, and necessity stores making this location a sought after living area. Clackamas Mall is within just 10 minutes and local grocers are within walking distance.
If you would like more info, give us a call! (503) 804-0587