ne weidler four-plex $829,000...ne weidler four-plex 1910 ne weidler st., portland, or 97232...

FOR MORE INFORMATION:Phillip BarrySenior Broker

(503) [email protected]

NE Weidler Four-Plex1910 NE Weidler St., Portland, OR 972324 units

$829,000

PROPERTY ANALYSIS

The Professional Approach to Apartment Investing.

OR • WA • AZ • josephbernard.net1

BUILDING

Price: $829,000Units: 4Price/Unit: $207,250Building Sq Ft: 4,298*Price/Sq Ft: $192.88GRM: 16.22Year Built: 1907Lot Size: 7,500 sq ftCounty: Multnomah

NE Weidler Four-Plex1910 NE Weidler St., Portland, OR 97232

INVESTMENT SUMMARY


OR • WA • AZ • josephbernard.net

DESCRIPTION

Rare opportunity to purchase a vintage Four-Plex in the Sullivan Gulch neighborhood of NEPortland. Value add opportunity through rent growth and the continued development of theurban core of NE Portland. Perfect set up for an owner-occupant, with large 2BR unit on the mainfloor, and three studio units above. Airbnb potential. Detached 528 sq. foot garage provides thepotential for additional storage/parking on site. Corner Lot, with ample parking & greenspace.*Studio and 2BR unit are currently vacant and have estimated rents factored at $900 and $1800.

*Square Footage Includes: 2,690 of unit square footage, 1,080 of unfinished basement(laundry/storage), and 528 sq. feet for the detached garage.

HIGHLIGHTS

• Value Add Opportunity• Fantastic Close in NE Portland Location• Great floor plan for owner-occupied• Off-Street Parking & Garage on-site• Vintage Charm

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FINANCIAL ANALYSIS


OR • WA • AZ • josephbernard.net

Scheduled Monthly Rents

Units Type Est. SF*Current Average

RentMonthly Income Rent at Market Monthly Income

1 Studio 408 $700 $700 $900 $900

1 Studio 408 $860 $860 $900 $900

1 Studio 408 $900 $900 $900 $900

1 2BR + 1 BA 1,466 $1,800 $1,800 $1,800 $1,800

4 $4,260 1 $4,500

Scheduled Gross Income $51,120 $54,000

Effective Gross Income $51,120 $54,000

• Plus: Potential Parking Income +$2,400 2 +$2,400

Effective Annual Income $53,520 $56,400

Estimated Expenses

Current Budget

%EGI Per/Unit Amount %EGI Per/Unit Amount3 Taxes 10.36% $1,324 $5,296 9.81% $1,324 $5,2964 Insurance 2.73% $349 $1,396 2.59% $349 $1,3964 Utilities 9.57% $1,223 $4,891 9.06% $1,223 $4,8915 Maintenance & Repairs 2.35% $300 $1,200 2.22% $300 $1,2005 Turnover Reserves 1.56% $200 $800 1.48% $200 $8004 Landscaping 3.52% $450 $1,800 3.33% $450 $1,8005 Capital Reserves 1.56% $200 $800 1.48% $200 $800

Total Est. Annual Expenses 31.66% $4,046 $16,183 29.97% $4,046 $16,183

of EGI Per Unit of EGI Per Unit

Investment Summary

Current Projected

Net Operating Income (NOI) $37,337 $40,217

Gross Rent Multiplier 16.22 15.35

Footnotes

1. Current Rents: $700, $860 for occupied studios. Vacant Units: Studio & 2BR are estimated market rents, $900 and $1,800.2. Potential Garage Income Estimated at $200/month. 2 spaces, detached 528 sq. foot garage on-site (Seller currently uses

this space for personal storage).3. Actual 2018-2019 Property Taxes, with 3% Oregon Prepay discount.4. Actual 2018 Expense, as reported by seller.5. Budget Estimates for Repairs, Turnover & Capital Reserves.* Studio average square footage reported at 408 sq. feet, but size may vary between the 3 units.

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EXTERIOR PHOTOS



INTERIOR PHOTOS



AWARDS & RECOGNITIONS



America's Fastest Growing Private Companies

Fastest Growing Private 100 Companies

Top 40 Business Leader Under 40

Investment Broker of the Year

Commercial Real Estate POWERLIST

Top Corporate Philanthropy

Top Commercial Real Estate Firm

All Star Award for Advertising and Marketing Excellence

Oregon Ethics in Business

CONTACT INFO



FOR MORE INFORMATION:Phillip Barry

Senior Broker

(503) [email protected]

Oregon Washington Arizona Southern Arizona

5200 SW Macadam Ave, Suite 300

Portland, OR 97239

4400 NE 7th Ave, Suite 275

Vancouver, WA 98662

9927 E Bell Rd,Suite 130

Scottsdale, AZ 85260

One South Church Ave,Suite 1200

Tucson, AZ 85701

(503) 546-9390 (360) 255-0255 (480) 305-5600 (520) 428-0850

The information contained in this package has been obtained from sources we believe to be reliable. While we do not doubt its accuracy, we make noguarantee, warranties or representation, expressed or implied, as to the accuracy. It is the buyers’ sole responsibility to independently confirm itsaccuracy and completeness and bears all risk for any discrepancies. Any projections, square footage, age, opinions, assumptions, or estimates used arefor example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax andother factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independentinvestigation of the property to determine your satisfaction and the suitability of the property for your needs. Parties that receive this information fromoutside of Joseph Bernard, LLC representatives will not be recognized.

ne weidler four-plex $829,000...ne weidler four-plex 1910 ne weidler st., portland, or 97232...

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