5840 Southeast 89th Avenue

Portland, OR 97266

$1,948,800
Price
Beds
5,369 Sq. Ft.
$363 / Sq. Ft.
5,369
Sq. Ft.
$363
per Sq. Ft.

Description

New 11 unit apartment building in the Lents District which offers a vibrant community with amenities like FlipSide Bar and Carts, the Farmers Market, Lents Park, and easy transportation making it an attractive location for tenants. The fact that the building is professionally managed and fully leased adds to its appeal, as does the availability of plenty of street parking and outdoor amenities. Having full income and expense reports available for a Buyer makes it transparent and easier to assess...New 11 unit apartment building in the Lents District which offers a vibrant community with amenities like FlipSide Bar and Carts, the Farmers Market, Lents Park, and easy transportation making it an attractive location for tenants. The fact that the building is professionally managed and fully leased adds to its appeal, as does the availability of plenty of street parking and outdoor amenities. Having full income and expense reports available for a Buyer makes it transparent and easier to assess the investment's potential. Overall, a plug-and-play investment opportunity in a promising location.
  1. Listed by Mark Lisac • Legacy Realty Group • 503-496-5190

Property Details for 5840 Southeast 89th Avenue

Subdivision
LENTS
Parking Features
On Street
Zoning
CM2d
Garage Spaces
.00
Parking Total
.00
LISTING UPDATED: 08/04/2024 12:15 PM

Property Details for 5840 Southeast 89th Avenue

StatusActive
MLS #24164065
Days on Market207
Taxes$2,143 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built2023
Lot Size0.07 AC / 3,049 SF
CountyMultnomah County

Building Information for 5840 Southeast 89th Avenue

Stories3Residences11Year Built2023Building Size-Lot Size0.07 AC / 3,049 SF

Property Information for 5840 Southeast 89th Avenue

Summary
Location and General Information
  • Country: US
  • Directions: Between SE Foster Rd and SE Woodstock Blvd
  • Road Surface: Paved
School Information
  • Elementary School: Kelly
  • High School: Franklin
  • Middle Or Junior School: Lane
Taxes and HOA
  • Tax Year: 2023
  • Tax Annual Amount: $2,142.93
  • Parcel Number: R707573
  • Tax Legal Description: MT SCOTT PK, BLOCK 3, LOT 15 EXC PT IN ST
Property
Lot Information
  • Acres: 0.07
  • Lot Description: Level
  • Lot Size Square Feet: 3049.0
  • Lot Size Dimension: 50x 60
  • Lot Size Range: Sq Ft3000to4999
  • Lot Size: 3,000 to 4,999 Sq Ft
Property and Assessments
  • Property Type: Multi Family
  • Water Description: Public Water
  • Property Condition: Existing
  • Year Built: 2023
Utilities
  • Cooling Description: Heat Pump, Wall Unit
  • Fuel Description: Electricity
  • Heating Description: Heat Pump
  • Hot Water Description: Gas
  • Sewer Description: Public Sewer
  • Rent Includes: Maintenance Grounds
Interior and Exterior Features
Exterior Features
  • Exterior Description: Board Batten Siding, Vinyl Siding
  • Roof Type: Composition
Interior Features
  • Basement: None
  • Foundation Details: Concrete Perimeter, Slab
  • Stories: 3
Amenities
Amenities Information
  • Internet Service Type: Cable
Multi Family
Multi-Family Information
  • Number Of Units Total: 11
  • Gross Income Actual: $40,477.00
  • Gross Income Projected: $145,380.00
  • Gross Rent Multiplier: $48.15
  • Investor Information: Profit Loss Statement, Rent Records
  • Net Income Actual: $30,855.00
  • Net Income Projected: 40752
  • Operating Expenses Projected: $104,628.00
  • Operating Expense: $9,622.00
  • Security Features: Entry, Fire Sprinkler System
  • Storage: None
  • Unit Type Type: Unit Type Type1, Unit Type Type2, Unit Type Type3, Unit Type Type4
  • Common Amenities: Commons
  • SqFt Approximate Building Total: 5369
Unit 1 Information
  • Unit Type 1 Baths Total: 1
  • Unit Type 1 Beds Total: 0
  • Unit Type 1 Features: Air Conditioning, Range, Refrigerator, Washer Dryer
  • Unit Type 1 Rent: $1,095
  • Unit Type 1 SqFt: 364.0
  • Unit Type 1 Units Total: 5
Unit 2 Information
  • Unit Type 2 Baths Total: 1
  • Unit Type 2 Beds Total: 0
  • Unit Type 2 Features: Air Conditioning, Range, Refrigerator, Washer Dryer
  • Unit Type 2 Rent: $1,195
  • Unit Type 2 SqFt: 448.0
  • Unit Type 2 Units Total: 3
Unit 3 Information
  • Unit Type 3 Baths Total: 1
  • Unit Type 3 Beds Total: 0
  • Unit Type 3 Features: Air Conditioning, Range, Refrigerator, Washer Dryer
  • Unit Type 3 Rent: $1,050
  • Unit Type 3 SqFt: 333.0
  • Unit Type 3 Units Total: 1
Unit 4 Information
  • Unit Type 4 Baths Total: 1
  • Unit Type 4 Beds Total: 0
  • Unit Type 4 Features: Air Conditioning, Range, Refrigerator, Washer Dryer
  • Unit Type 4 Rent: $1,150
  • Unit Type 4 SqFt: 371
  • Unit Type 4 UnitsTotal: 2

Property History for 5840 Southeast 89th 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 5840 Southeast 89th Avenue

Taxable ValueLand-Additions-Total-
Tax Record2024$22,602 ($1,884 / month)
Home Facts
Total Finished SqFt5,369 SqFtAbove Grade Finished SqFt5,369 SqFtLot Size2,981 SqFtStyleMulti-Family Res (5+ Units)Year Built2022CountyMULTNOMAHAPN1S2E16CA 12501

Schools near 5840 Southeast 89th Avenue

This home is within Portland School District 1j.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Kelly Elementary School
PublicK to 5

Lane Middle School
Public6 to 8

Franklin High School
Public9 to 12

Renaissance Arts Academy
Public9 to 12

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.

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5840 Southeast 89th Avenue is a multi-family home for sale in Portland, OR 97266. This property was listed for sale on May 24, 2024 by Legacy Realty Group, it's currently listed at $1,948,800. It has been on the market for a total of 207 days and was last sold on March 1, 2022. This listing's school district is Portland School District 1j. Nearby schools include Kelly Elementary School, Lane Middle School and Franklin High School. 5840 Southeast 89th Avenue is a 0-bed, 0-bath, 5,369 sqft multi-family home built in 2023.

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 Legacy Realty Group

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: 08/04/2024 12:15 PM