Scruggs THs (52 units, built 1995) & Goodrick-Spencer Apts (23 units, built 2003) are separate tax lots being offered as 1 sale. Initially built by Multnomah for student housing, the property is now a market rate offering with NO student housing restrictions. The Owner purchased the property from MU which had a deed restriction regarding student housing, the deed restriction has since been removed. Both properties feature off-street parking, laundry rooms, vinyl windows & clean landscaping.
Off market
$4,790,300
608 NE 87th Ave, Portland, OR 97220
7beds
6baths
71,586sqft
MultiFamily
Built in 2003
-- sqft lot
$4,790,300 Zestimate®
$67/sqft
$-- HOA
What's special
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 6
Heating
- Forced air, Electric
Appliances
- Laundry: Common Area
Interior area
- Total interior livable area: 71,586 sqft
Property
Features
- Exterior features: Vinyl
Lot
- Features: 3 to 4.99 Acres
Details
- Parcel number: R319440
- Zoning: IR
Construction
Type & style
- Home type: MultiFamily
Materials
- Roof: Composition
Condition
- Existing
- Year built: 2003
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected
Community & neighborhood
Location
- Region: Portland
HOA & financial
Other financial information
- Total actual rent: 4728
Other
Other facts
- Sewer: Public Sewer
- WaterSource: Public
- Heating: Forced Air
- HeatingYN: true
- Utilities: Electricity Connected
- Roof: Composition
- LeaseTerm: Month To Month
- NumberOfUnitsTotal: 75
- FarmLandAreaUnits: Square Feet
- RentIncludes: Water, Sewer, Trash Collection
- Zoning: IR
- LaundryFeatures: Common Area
- CapRate: 5.01
- PropertyCondition: Existing
- MlsStatus: Active
- GrossIncome: 1200410
- GrossScheduledIncome: 1349648
- OperatingExpense: 473478
- LotFeatures: 3 to 4.99 Acres
- NetOperatingIncome: 726932
- TotalActualRent: 4728
Services availability
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Estimated market value
$4,790,300