714 Madison St, Oregon City, OR 97045

This Victorian style 4-plex has been restored to period with replica triple moldings and window/door casings in addition to new paint, carpet, vinyl, lighting, blinds and kitchen and bath updates. The exterior has also been restored and custom painted in 4 colors. The front and side yards are landscaped and an auto sprinkler system installed. The back was graded and graveled and a rock retaining wall built and is ready for a patio. The sewer line was replaced. All these improvements were completed within the past 3 years. The prior owner had rewired all units, added 5 electrical services and panels, replaced all 4 furnaces, water heaters and the roof and installed a new water line and copper plumbing. Neighborhood Description Located within the McLoughlin District, this plex is walking distance to antique stores, sidewalk cafes, museums, historic downtown, waterfront and the Carnegie Center. It is surrounded by historic homes, most within the $250K to $500K price range (the property at 9th & Madison just sold at $425K). The apartments rent out within days as the neighborhood is very popular. I currently own 3 other homes within blocks or this property, all of my investments intentionally bought with the anticipation of the many improvements being made to the historic homes in the neighborhood and the coming development that is planned for the near future. Check out the links attached to this flyer regarding the planned revitalization of the downtown historic district, the waterfront, development of the new "Rivers at Oregon City" Shopping Center and the "Cove at Oregon City" Office and Shopping Center and the relocation of all County facilities to the hilltop area of Oregon City. The developer of the Rivers is the same who built Gresham Station and Bridgeport and the Cove developer is the same who built Oswego Point. The new centers will surround the historic districts and will be within walking of this property. If all goes as scheduled, development should begin in 2008.