Purpose-built investment property with zero vacancy in 14 years! This duplex built in 2003 by an architect with specific intention to create a cash flow, low maintenance, low vacancy investment property. Ideally located across the street from University of Portland and fully occupied as student housing. High priority was placed on creating a living space ideal for student living & designed for minimal maintenance. This is truly a hassle-free investment property with a great rental history.
Off market
$1,047,800
5505 N Willamette Blvd, Portland, OR 97203
11beds
5baths
4,254sqft
MultiFamily
Built in 2003
-- sqft lot
$1,047,800 Zestimate®
$246/sqft
$-- HOA
What's special
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 11
- Bathrooms: 5
Heating
- Forced air, Gas
Appliances
- Included: Dishwasher, Dryer, Refrigerator, Washer
Features
- Storage
- Basement: Finished
Interior area
- Total interior livable area: 4,254 sqft
Property
Features
- Patio & porch: Deck, Deck Storage
- Exterior features: Vinyl
Lot
- Size: 4,500 sqft
Details
- Parcel number: R486294
- Zoning: R5
Construction
Type & style
- Home type: MultiFamily
Materials
- Roof: Composition
Condition
- New Construction
- Year built: 2003
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Natural Gas Connected
Community & neighborhood
Location
- Region: Portland
HOA & financial
Other financial information
- Total actual rent: 6355
Other
Other facts
- Sewer: Public Sewer
- WaterSource: Public
- RoadSurfaceType: Paved
- NewConstructionYN: true
- Zoning: R5
- Appliances: Dishwasher, Refrigerator, Washer/Dryer, Gas Water Heater
- Basement: Finished, Full
- HeatingYN: true
- NumberOfUnitsTotal: 2
- Utilities: Natural Gas Connected
- PatioAndPorchFeatures: Deck, Deck Storage
- FoundationDetails: Slab
- PropertyCondition: New Construction
- ConstructionMaterials: Vinyl Siding
- Roof: Composition
- FarmLandAreaUnits: Square Feet
- OpenParkingYN: true
- InteriorFeatures: Storage
- RentIncludes: Trash Collection, Maintenance Grounds
- ParkingFeatures: Open
- CapRate: 5.62
- MlsStatus: Pending
- Heating: Forced Air - 90%
- GrossIncome: 75750
- GrossScheduledIncome: 78420
- NetOperatingIncome: 61786
- OperatingExpense: 13963
- TotalActualRent: 6355
- Road surface type: Paved
Services availability
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Estimated market value
$1,047,800