Catylist ID:
#30790973
| Catylist Listing ID: | 30790973 |
| Property Subtypes: | Government Subsidized, Mid-Rise |
| Status: | Pending |
| Number of Units: | 16 Units |
| Building Size (RSF): | 12,496 SF |
| Gross Building Area: | 15,620 SF |
| Gross Land Area: | 0.10 Acres |
| Sale Price: | $2,995,000 |
| Unit Price: | $187,187.50 Per Unit |
| Property Use Type: | Investment |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 9.22% |
| Average Occupancy Rate: | 100 |
| Last Updated: | 5/4/2022 |
Overview / Comments
|
- 16 exempt, value-add units for sale on Portland's peninsula. - Exempt from City of Portland Rental Control Ordinance - Multi-Family building comprised of 16 units totaling 12,496± SF - Spacious and efficient layout, all units with three-bedrooms on 4-stories - Exceptional cash-flow opportunity at an opportune time to invest in a growing neighborhood on Portland's peninsula - Professionally managed building protected by code-compliant, centrally monitored alarm and sprinkler system - Walkable to Old Port, Downtown Business District District and Whole Foods/Bayside Area - Projected Cap Rate: 9.22% - Sale Price: $2,995,000 |
Attachments & Media
Financials
| Finance Data Year | 2022 |
|---|---|
| Real Estate Taxes - Annual($) | $32,243 (Annual) |
| Potential Rental Income | $419,136 (Annual) |
| Net Operating Income | $276,042 (Annual) |
| Actual or Proforma Year | Proforma |
Additional Details
| Nearest MSA: | Portland-South Portland |
| County: | Cumberland |
| Tax ID/APN: | 05170_026 F013 |
| Zoning: | R6 |
| Percent Occupied: | 100% |
| Property Located Between: | Cumberland Ave and Oxford Street |
| Total Number of Buildings: | 1 |
| Property Condition: | Fair |
| Number of Stories: | 4 |
| Year Built: | 1910 |
| Roof Type: | Flat |
| Parking Description: | One off-street parking spot available |
| Total Parking Spaces: | 1 |
| Laundry: | Shared |
| Sprinklers: | Wet |
| Heat Type: | Natural Gas |
| Heat Source: | Baseboard |
| Fuel: | Gas |
| Interior Description: | 16 Three-bedroom one-bath units |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 26,297 | 77,804 | 111,973 |
| Median Age: | 33.75 | 38.13 | 39.29 |
| Households: | 13,638 | 36,203 | 50,379 |
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