New listing: 8 Units, located at 1406 SE 27th Avenue in Portland, Oregon is offered for sale at $2,139,000. For more information, call Bernard Gehret at Joseph Bernard Investment Real Estate: 503-546-9390.

PROPERTY FEATURES

A true “Pride of Ownership” offering!

The three generation owned vintage property has been impeccably maintained, featuring beautiful hardwood floors and original vintage charm throughout the property.  The income from the seven garages essentially creates the income of another entire unit, making the property unique in generating the income of a nine unit property with the expenses of an eight unit property.

The plumbing has been inspected and given a clean bill of health by Apollo Drain, and the electric was updated by Westside Electric in 2008.  This vintage property even has upgraded double pane vinyl windows!  Tenants also have access to a storage unit and laundry in the basement.  

Beautiful Hardwood Floors Throughout

The basement also has an additional room that could be utilized as a common area community space, more storage or possibly an artist studio for more potential income.  The heat is provided by a  forced air gas furnace unit, installed by Pyramid Heating and Cooling.

The occupancy has been stellar over the long history of family ownership, typically the seller experiences less than 2% economic vacancy annually.  The property is in great condition, with quality tenants and a very strong operational history, the seller even has a hand written book of all unit by unit improvements completed on the building for many years!  This is quite possibly the perfect close-in  “turn key” property 

EXTERIOR FEATURES:

Brick tuck pointed in 2007

Newer, Milguard double vinyl windows

Beautiful courtyard with landscaping

ELECTRIC FEATURES:

-System re-done in 2008 by Westside Electric

PLUMBING FEATURES

Fully inspected by Apollo Drain in December, 2017

Shut off valves added for each unit

Main line flushed and cleaned in 2017

Plumbing insulated by Gale Contractor Services

INTERIOR FEATURES:

Beautiful Hardwood floors in all units

New tub surrounds in all units

New toilets in all units (except for unit #1)

Coin meter laundry facility

Subway tiles

New appliances

Tenants on month to month agreement

GARAGE FEATURES:

7 garages for additional income