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Listed by Richard Ballew Realty
$789,000
Est. payment /mo
7,405 Sqft Lot
Price Dropped by $61K
1120 SW BROADWAY DR Portland, OR 97201
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 374309510
HOA Y/N No
Year Built 1904
Annual Tax Amount $6,463
Tax Year 2024
Lot Size 7,405 Sqft
Property Description
7.36% CAP RATE | LEGAL TRIPLEX | FULLY REMODELED | EXCEPTIONAL LOCATION | STRONG RENTAL HISTORY A rare opportunity to own a legal triplex in one of Southwest Portland's most desirable locations. Did you know residential financing is available for properties with up to 4 units? If purchasing as a primary residence you may be able to live in one unit and rent out the others. Ask your lender for details and qualification requirements. Offering an estimated 7.36% capitalization rate, low annual property taxes of $6,214.72, beautifully remodeled units, and an outstanding rental history. Perfectly positioned just 1.8 miles from Historic Council Crest Park—Portland's highest point and one of the city's premier scenic destinations—the property also enjoys close proximity to OHSU, downtown Portland, major employers, shopping, dining, and public transportation. Each unit has been thoughtfully updated and includes its own washer and dryer, a highly desirable amenity that enhances tenant satisfaction and marketability. Additional improvements include new electrical meters, further enhancing the property's long-term functionality and appeal. For investors seeking stable cash flow, the combination of low operating expenses, quality renovations, excellent tenant demand, and a premier Southwest Portland location creates a compelling investment opportunity. Rare Bonus Opportunity: An adjacent vacant lot is available for purchase either separately or together with the triplex, providing additional flexibility for future expansion, investment, or development potential. Buyers should perform their own due diligence regarding permitted uses and development possibilities. This property offers an outstanding combination of location, quality, and income potential that is seldom available. SELLER RATE BUYDOWN AVAILABLE: Seller is willing to entertain a mortgage rate buydown to help reduce the buyer's interest rate and monthly payment, subject to acceptable terms and lender approval.
Location
State OR
County Multnomah
Area _148
Zoning R10
Rooms
Basement Daylight
Interior
Heating Baseboard, Forced Air
Cooling None
Exterior
View Park Greenbelt, Trees Woods, Valley
Roof Type Composition
Garage No
Building
Lot Description Green Belt, Public Road, Sloped, Trees, Wooded
Story 3
Foundation Slab
Sewer Septic Tank
Water Public Water
Level or Stories 3
Schools
Elementary Schools Ainsworth
Middle Schools West Sylvan
High Schools Lincoln
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://listings.pdxpics.com/videos/01999b85-90fb-73ab-ad53-ad3e9337b310
Nearby Locations
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