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2610-2618 NE Clackamas St 5 Unit Apartment Building £666,315 (£133,263/Unit) 6.57% Net Initial Yield Portland, OR 97232
INVESTMENT HIGHLIGHTS
- Quiet, tree-lined street
- Off street parking
- Updated units
- Large units
- Easy access to public transportation
- Professionally managed
EXECUTIVE SUMMARY
Private financing available! $500K down and the balance of $400K at 5.5% for 5 years. Fantastic close in NE location! Large units with many recent interior updates. Off street parking. Upside in rents!
FINANCIAL SUMMARY (PRO FORMA - 2023) |
ANNUAL | ANNUAL PER sq ft |
|---|---|---|
| Gross Rental Income |
£65,706
|
£16.74
|
| Other Income |
£4,220
|
£1.07
|
| Vacancy Loss |
£1,871
|
£0.48
|
| Effective Gross Income |
£68,055
|
£17.33
|
| Taxes |
£8,514
|
£2.17
|
| Operating Expenses |
£15,740
|
£4.01
|
| Total Expenses |
£24,254
|
£6.18
|
| Net Operating Income |
£43,801
|
£11.16
|
FINANCIAL SUMMARY (PRO FORMA - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £65,706 |
| Annual Per sq ft | £16.74 |
| Other Income | |
|---|---|
| Annual | £4,220 |
| Annual Per sq ft | £1.07 |
| Vacancy Loss | |
|---|---|
| Annual | £1,871 |
| Annual Per sq ft | £0.48 |
| Effective Gross Income | |
|---|---|
| Annual | £68,055 |
| Annual Per sq ft | £17.33 |
| Taxes | |
|---|---|
| Annual | £8,514 |
| Annual Per sq ft | £2.17 |
| Operating Expenses | |
|---|---|
| Annual | £15,740 |
| Annual Per sq ft | £4.01 |
| Total Expenses | |
|---|---|
| Annual | £24,254 |
| Annual Per sq ft | £6.18 |
| Net Operating Income | |
|---|---|
| Annual | £43,801 |
| Annual Per sq ft | £11.16 |
PROPERTY FACTS Under Offer
| Price | £666,315 | Apartment Style | Garden |
| Price Per Unit | £133,263 | Costar Property Class | C |
| Sale Type | Investment | Total Plot Size | 0.11 ac |
| Yield | 6.57% | Property Size | 3,926 sq ft |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 5 | No. Floors | 2 |
| Property Type | Build-to-Rent | Year Built | 1969 |
| Property Subtype | Apartment | Parking Allocation | 2.55/1,000 sq ft |
| Use Class | R2.5 | ||
| Price | £666,315 |
| Price Per Unit | £133,263 |
| Sale Type | Investment |
| Yield | 6.57% |
| Sale Condition | 1031 Exchange |
| No. Units | 5 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Costar Property Class | C |
| Total Plot Size | 0.11 ac |
| Property Size | 3,926 sq ft |
| Average Occupancy | 100% |
| No. Floors | 2 |
| Year Built | 1969 |
| Parking Allocation | 2.55/1,000 sq ft |
| Use Class | R2.5 |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Fireplace
- Wooden Floors
- Refrigerator
- Range
- Carpet
- Double Pane Windows
SITE AMENITIES
- Laundry Facilities
- Pet Play Area
- Recycling
- Smoke Free
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 1+1 | 4 | £1,036 | 540 |
| 4+2 | 1 | £1,738 | 1,292 |
1 1
Walk Score®
Excellent pedestrian access (92)
Bike Score®
Good for cycling (82)
PROPERTY TAXES
| Parcel Number | R182047 | Total Assessment | £352,118 (2025) |
| Land Assessment | £0 (2025) | Annual Taxes | £8,514 (£2.17/sq ft) |
| Improvements Assessment | £0 (2025) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
R182047
Land Assessment
£0 (2025)
Improvements Assessment
£0 (2025)
Total Assessment
£352,118 (2025)
Annual Taxes
£8,514 (£2.17/sq ft)
Tax Year
2023
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2610-2618 NE Clackamas St
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