4318 Milwaukie AvePortland, OR 97202

Property Details for 4318 Milwaukie Ave

Property size (Sq ft)

10,147 SF

Property type

Apartment buildings

Description

This exceptional Portland, Oregon multifamily investment opportunity presents a meticulously maintained 10-unit apartment building situated on an 8,332 sq ft lot at 4318 SE Milwaukie Ave, 97202. The property comprises two buildings: a charming 1907 Arts & Crafts-era structure featuring a mix of studio, one-bedroom, and two-bedroom units, totaling 7,012 net rentable square feet, and a newer 2013 detached garage/shop with a two-bedroom owner's unit (873 sq ft). The main building has undergone a studs-out remodel, showcasing exceptional craftsmanship and thoughtful upgrades while preserving its vintage charm. Amenities include four parking spaces. The property boasts a 100% occupancy rate, generating a Net Operating Income (NOI) of $108,355, with a projected gross income of $162,180 and projected operating expenses of $53,825. The property is zoned CM1 and offers significant potential for future rental growth. The detached shop/garage presents a unique opportunity for an owner-user, artist, or craftsman. Seller financing is available with favorable terms and a 50% down payment. The asking price is $1,850,000, representing $182.32 per square foot and $185,000 per unit. This turnkey investment offers a compelling combination of strong cash flow, historical charm, and modern updates.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.4918

Longitude

-122.652

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