8541 Russell StPortland, OR 97220

Property Details for 8541 Russell St

Year built

2001

Property size (Sq ft)

2,904 SF

Property type

Apartment buildings

Description

This exceptional 3-unit apartment building in Portland, Oregon presents a compelling investment opportunity. Located at 8541 NE Russell St, this 2-story, 2001-built property boasts a total of 2,904 square feet and offers a strong 5.40% cap rate with a Net Operating Income (NOI) of $37,795. The asking price is $700,000, translating to $241.05 per square foot and $233,333 per unit. The property comprises three units: two 2-bedroom, 1.5-bathroom units and one 2-bedroom, 1-bathroom unit with a den. Each unit features approximately 950 square feet of living space, including modern kitchens equipped with dishwashers, microwaves, refrigerators, and garbage disposals. In-unit laundry and attached garages add to the appeal. The property benefits from a homeowner's association (HOA) that covers management, basic landscaping, and trash services, streamlining expenses for the owner. The convenient location offers easy access to public transportation (MAX and bus lines) and freeways. This property is ideal for both investors seeking a strong return and owner-occupiers looking for a multi-family income-generating asset. The property's features include forced-air heating and fireplaces. The Multnomah County property (APN R211195) is classified as a Class C Core investment.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5409

Longitude

-122.574

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