Sold! A smaller deal this time, four units in Beaverton at 12125 SW 14th Street for $340,000. While we typically deal with larger units in the 10-100+ range, it is interesting to see multiple offers on plexes (2-4 units) for the first time in years. There were multiple offers on this one, and it was well maintained with a solid tenant base. The 1958 property has a “Mid-century modern” feel to it, and looks really cool on the inside with hardwood floors and a unique layout.
Here are the statistics:
Cap rate: 6%
Price per square foot: $115
Steve Louis from John L Scott represented the buyers extremely well, and Bernard Gehret of Joseph Bernard Investment Real Estate represented the sellers.