IMG_0098 (Medium) IMG_0104 (Medium)

1958 "Mid Century" 4 Plex

1958 “Mid Century” 4 Plex

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:

Price:  $340,000

GRM: 10.0

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.