6839 Belmont StPortland, OR 97215

Property Details for 6839 Belmont St

Year built

1911

Lot size

0.14 AC

Property size (Sq ft)

5,568 SF

Zone code

CN1

Property type

Retail space

APN

1S2E05BA 10100

APU

1S2E05BA10100

Description

This exceptional investment opportunity presents a historic three-story apartment building located at 6839 SE Belmont St, Portland, Oregon, 97215. The property, built in 1911, boasts 8,064 square feet and sits on a lot ranging from 5,000 to 6,999 square feet. Currently zoned CM1, this mixed-use building offers significant potential. The main and basement levels are leased to a commercial tenant, while two occupied residential rental units are located on the upper floors. The property includes 12 parking spaces, a valuable asset in this location. The asking price is $2,350,000, representing a price per square foot of $341. The property generates a Net Operating Income (NOI) of $123,500. The building has undergone restoration and is connected to public water. The property's location in the historic Mount Tabor neighborhood provides excellent access to amenities and transportation. The current commercial/mixed-use financing landscape may make seller financing a viable option. The Assessor's Parcel Number (APN) is R283089. This is a rare opportunity to acquire a well-maintained, income-producing property in a desirable Portland location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,248,081

  6.5%

  $2,075,152

  7%

  $1,926,927

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,702,159

  Geo Method

  $2,702,159

• Alternative Use

  Use

  Valuation

  Residential

  $1,750,468

  Hospitality

  $1,603,420

  Educational

  $1,334,026

  Medical

  $1,379,905

  Retail

  $2,075,152

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5171

Longitude

-122.593

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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