4881 63Rd AvePortland, OR 97206

Property Details for 4881 63Rd Ave

Year built

2023

Property size (Sq ft)

3,464 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional new construction fourplex, completed in 2023, presents a compelling investment opportunity in Portland's desirable Mt. Scott-Arleta neighborhood. Boasting a total of 3,464 square feet across four units, each unit offers a spacious 844-888 square feet of living space, featuring two bedrooms and one and one-half bathrooms. The property benefits from a 100% occupancy rate, generating a strong net operating income (NOI) of $70,852, resulting in a 4.72% cap rate. High-end finishes throughout include modern cabinetry, slab counters, extensive tile backsplashes, and stainless steel appliances. Each unit also features in-unit washer/dryer hookups and a private, fenced patio. The building's prime location offers a phenomenal 99 BikeScore and 90 WalkScore, placing residents within easy walking distance of restaurants, shops, and coffee houses, and just 0.2 miles from Laurelwood Park. Additional benefits include a one-year builder warranty and a fifteen-year rent control exemption, minimizing maintenance and maximizing long-term value. The property sits on a lot sized between 3,000 and 4,999 square feet and is priced at $1,499,900, or $374,975 per unit, and $433 per square foot. This fully leased and stabilized property offers a rare combination of modern luxury, strong financial performance, and a highly sought-after location.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.4874

Longitude

-122.598

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