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2705 SE Ash St

3,984 SF 70% Leased Office Building Portland, OR 97214 £1,411,938 (£354/SF) 4.70% Net Initial Yield

Investment Highlights

  • High Foot Traffic
  • Open floor plan, large entry
  • Natural Light

Executive Summary

Nestled in the heart of SE Portland, this three-story live-work unit offers remarkable living potential along with income-generating opportunities. Constructed in 2013, the building is equipped with modern amenities suitable for a variety of business uses, whether as office space, retail store, or service-based enterprises. Each commercial unit spans 2,400 square feet, featuring large windows that flood the space with natural light. The units share a mirrored floor plan, each with a kitchen that includes a dishwasher, microwave, and range, as well as mini-splits and two bathrooms. Two floors in each unit provide ample space for offices, while the open floor entry is perfect for welcoming customers or clients. The units currently rent for $3,193 and $3,375. Above these commercial spaces lies a stunning residence with striking architecture and high ceilings. Situated on the third floor, this unit offers privacy and city views. The open-concept living and dining area features a fireplace and floor-to-ceiling windows, seamlessly integrating with the space. The residence includes two bedrooms and two bathrooms, providing a relaxing living environment. The kitchen is outfitted with modern amenities, including a range, dishwasher, refrigerator, and a large window above the sink. A large covered balcony, accessed by beautiful sliding glass doors, offers extra outdoor dining and entertainment space. The unit also offers rooftop access to a green roof with breathtaking views. This residence, while an exceptional place to live, also serves as an income generator through Airbnb or short-term rentals, currently earning between $2,800 and $3,000 per month from part-time rentals.

Financial Summary (Actual - 2023)

Annual Annual Per SF
Gross Rental Income £88,180 £16.83
Other Income - -
Vacancy Loss - -
Effective Gross Income £88,180 £16.83
Taxes - -
Operating Expenses - -
Total Expenses £21,800 £4.16
Net Operating Income £66,380 £12.67

Financial Summary (Actual - 2023)

Gross Rental Income
Annual £88,180
Annual Per SF £16.83
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual £88,180
Annual Per SF £16.83
Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual £21,800
Annual Per SF £4.16
Net Operating Income
Annual £66,380
Annual Per SF £12.67

Property Facts

Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Office/Residential
Building Size
3,984 SF
Building Class
B
Year Built
2013
Price
£1,411,938
Price Per SF
£354
Net Initial Yield
4.70%
NOI
£66,380
Percent Leased
70%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
1,328 SF
Slab to Slab
9 ft
Building FAR
1.52
Land Acres
0.06 AC
Zoning
CM2

Amenities

  • Bus Route
  • Balcony
Walk Score ®
Walker's Paradise (97)
Bike Score ®
Biker's Paradise (98)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
  • Listing ID: 33043802

  • Date on Market: 03/09/2024

  • Last Updated:

  • Address: 2705 SE Ash St, Portland, OR 97214

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