400 Lola Avenue

Molalla, OR 97038

$899,900
Price
Beds
3,312 Sq. Ft.
$272 / Sq. Ft.
3,312
Sq. Ft.
$272
per Sq. Ft.

Description

Welcome to this fantastic multi-family 4-plex located in the heart of Molalla, Oregon! This investment opportunity offers four well-maintained, spacious units, perfect for generating steady rental income. Each unit features two bedrooms and one bathroom, providing comfortable living spaces for its tenants. The property is nestled in a charming neighborhood with easy access to local schools, parks, and shopping. Each unit boasts an open floor plan, spacious kitchens with appliances such as a range,...Welcome to this fantastic multi-family 4-plex located in the heart of Molalla, Oregon! This investment opportunity offers four well-maintained, spacious units, perfect for generating steady rental income. Each unit features two bedrooms and one bathroom, providing comfortable living spaces for its tenants. The property is nestled in a charming neighborhood with easy access to local schools, parks, and shopping. Each unit boasts an open floor plan, spacious kitchens with appliances such as a range, refrigerator, and dishwasher, as well as inviting living areas and a fireplace. Each unit has its own fenced yard providing space for relaxation and outdoor activities. There is ample off-street and on-street parking available for tenants. There is great potential as well! With a strong rental history and room for future growth, this property is an ideal addition to your real estate portfolio. Don't miss out on this incredible opportunity to own a multi-family property in the thriving community of Molalla. Contact me today for more information or to schedule a private showing!
  1. Listed by Lindsey Wilde • Coldwell Banker Bain • 503-300-9414

Property Details for 400 Lola Avenue

Parking Features
Assigned, Off Street
Zoning
R-2/3
View
City
Garage Spaces
.00
Parking Total
4.00
LISTING UPDATED: 12/21/2024 01:50 AM

Property Details for 400 Lola Avenue

StatusActive
MLS #24577283
Days on Market19
Taxes$5,476 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built1973
Lot Size0.23 AC / 10,018 SF
CountyClackamas County

Building Information for 400 Lola Avenue

Stories1Residences4Year Built1973Building Size-Lot Size0.23 AC / 10,018 SF

Property Information for 400 Lola Avenue

Summary
Location and General Information
  • Country: US
  • Directions: Located on the corner of 4th and Lola Street
  • Road Surface: Paved
School Information
  • Elementary School: Molalla
  • High School: Molalla
  • Middle Or Junior School: Molalla River
Taxes and HOA
  • Tax Year: 2024
  • Tax Annual Amount: $5,475.89
  • Parcel Number: 01098261
  • Tax Legal Description: 382 LAURELWOOD ADD LTS 9 & 10 BLK 5
Property
Lot Information
  • Acres: 0.23
  • Lot Description: Corner Lot, Public Road
  • Lot Size Square Feet: 10018.0
  • Lot Size Range: Sq Ft10000to14999
  • Lot Size: 10,000 to 14,999 Sq Ft
Property and Assessments
  • Property Type: Multi Family
  • Water Description: Public Water
  • Property Condition: Updated Remodeled
  • Year Built: 1973
Utilities
  • Cooling Description: None
  • Fuel Description: Electricity
  • Heating Description: Wall Heater
  • Hot Water Description: Electricity
  • Sewer Description: Public Sewer
  • Rent Includes: Sewer, Trash Collection, Water
Interior and Exterior Features
Exterior Features
  • Exterior Description: Other, Wood Siding
  • Roof Type: Composition
Interior Features
  • Basement: None
  • Foundation Details: Concrete Perimeter
  • Stories: 1
Amenities
Amenities Information
  • Internet Service Type: Cable
Multi Family
Multi-Family Information
  • Number Of Units Total: 4
  • Gross Income Actual: $74,100.00
  • Gross Income Projected: $76,000.00
  • Gross Rent Multiplier: $12.14
  • Investor Information: According To Owner, Leases, Rent Records
  • Net Income Actual: $61,575.00
  • Net Income Projected: 63375
  • Operating Expenses Projected: $12,525.00
  • Operating Expense: $12,525.00
  • Security Features: Sidewalk
  • Storage: None
  • Unit Type Type: Unit Type Type1, Unit Type Type2, Unit Type Type3, Unit Type Type4
  • SqFt Approximate Building Total: 3312
Unit 1 Information
  • Unit Type 1 Baths Total: 1
  • Unit Type 1 Baths Decimal: 1.00
  • Unit Type 1 Beds Total: 2
  • Unit Type 1 Features: Dishwasher, Fireplace, Refrigerator, Washer Dryer
  • Unit Type 1 Rent: $1,575
  • Unit Type 1 SqFt: 828.0
  • Unit Type 1 Units Total: 1
Unit 2 Information
  • Unit Type 2 Baths Total: 1
  • Unit Type 2 Baths Decimal: 1.00
  • Unit Type 2 Beds Total: 2
  • Unit Type 2 Features: Dishwasher, Fireplace, Refrigerator, Washer Dryer
  • Unit Type 2 Rent: $1,750
  • Unit Type 2 SqFt: 828.0
  • Unit Type 2 Units Total: 1
Unit 3 Information
  • Unit Type 3 Baths Total: 1
  • Unit Type 3 Baths Decimal: 1.00
  • Unit Type 3 Beds Total: 2
  • Unit Type 3 Features: Dishwasher, Fireplace, Range, Refrigerator
  • Unit Type 3 Rent: $1,450
  • Unit Type 3 SqFt: 828.0
  • Unit Type 3 Units Total: 1
Unit 4 Information
  • Unit Type 4 Baths Total: 1
  • Unit Type 4 Baths Decimal: 1.00
  • Unit Type 4 Beds Total: 2
  • Unit Type 4 Features: Dishwasher, Fireplace, Range, Refrigerator
  • Unit Type 4 Rent: $1,400
  • Unit Type 4 SqFt: 828
  • Unit Type 4 UnitsTotal: 1

Property History for 400 Lola Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 400 Lola Avenue

Taxable ValueLand-Additions-Total-
Tax Record2024$5,476 ($456 / month)
Home Facts
Baths2Total Finished SqFt1,656 SqFtAbove Grade Finished SqFt1,656 SqFtLot Size10,000 SqFtStyleDuplexYear Built1973ZoningR2CountyCLACKAMASAPN52E09CC03100Fireplace TypeHas Fireplace

Schools near 400 Lola Avenue

This home is within Molalla River School District 35.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 1 to 5
Rating
School
Distance
Molalla Elementary School
PublicK to 5

Molalla River Middle School
Public6 to 8

Molalla High School
Public9 to 12

Dickey Prairie Elementary School
Public1 to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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400 Lola Avenue is a multi-family home for sale in Molalla, OR 97038. This property was listed for sale on December 2, 2024 by Coldwell Banker Bain, it's currently listed at $899,900. It has been on the market for a total of 19 days and was last sold on February 23, 2022. This listing's school district is Molalla River School District 35. Nearby schools include Molalla Elementary School, Molalla River Middle School and Molalla High School. 400 Lola Avenue is a 0-bed, 0-bath, 3,312 sqft multi-family home built in 1973.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Bain

All information provided is deemed reliable but is not guaranteed and should be independently verified. The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland Oregon. Real estate listings held by brokerage firms other than Compass are marked with the RMLS logo and detailed information about these properties includes the names of the listing brokers. Copyright © 2024 RMLS, Portland, Oregon. Last updated: 12/21/2024 01:50 AM