$2,350,000 Price Analysis    ♡   Portland, OR 97215 4 bed 2 bath 8,064 SqFt ($291/SqFt) 6,098SqFt lot. Built 1911 Listed 2024-06-18, Taxes $6,234 | Ⓧ USDA Ineligible due to price & location near Portland |
Every once and while
Something truly special comes on the market. A property you've admired, stopped by for coffee or a late night dinner. Maybe you've sat outsid in the sunshine, enjoyed the breeze, courtesy of Mt.Tabor. If not, you should. It's one of the city's treasured surprises. The anchor of the Mt.Tabor neighborhood. Originally platted in 1889, the terminus of the Fairview Streetcar Line. Mt.Tabor developed quickly into a bustling neighborhood of high end estates, ample commercial services and transit. Today, Mt.Tabor remains the crown jewel of the eastside. With so much history to explore from it's volcanic origins to the Olmstead Designed Mt.Tabor Park no wonder there's a waiting list of eager tenants in line for the upper two units.
Spacious, sunlit with bayed front windows. The westside view of the city and west hills sparkles at dusk; the eastside view of Powell Butte, Rocky Butte, the cascades with Mt. Hood at center stage. Portland's 2016 restaurant of the year, Coquine, fills the main floor, serving dinner, take away, fresh pastries and espresso. Do not miss the chance to indulge in Coquine's magical browned butter cookies. Unsurprisingly, the financials are strong with a 6% cap rate, long term tenants, escalating commercial lease plus smart improvements to take this historic property into the next 100 years. The adjacent lot, zoned CM1, is ripe for development. For the bottom line, metric focused investor, this isn't one. This will take an investor, owner occupant, neighbor with an understanding of and commitment to stewardship. A belief in community, respect for history, a bit of creativity and vision, driven to make the world a better place starting at the corner of 68th + Belmont. You're out there, a kindred spirit, we know it. Come find us, we'll welcome you with open arms.
Presented by Lee McKnight at
Cascade Hasson Sotheby's International Realty.
Property MLS #24624242 from RMLS
Heating Fuel: Gas
Heating: Yes
Water Heaters: Gas
Lot Size Acres: 0.1399908
Lot Size Square Feet: 6098
Parking Total: 12
Security Features: Entry, LimitedAccess, SecurityLights, Sidewalk
High School: Franklin
Middle School: Mt Tabor
Map directions Map directions Map directions Map directionsGross Scheduled Income: 144731
Rent Includes: Sewer, TrashCollection, Water
Unit Type: UnitTypeType1, UnitTypeType2, UnitTypeType3
Bedrooms in Unit-1: 2
Bedrooms in Unit-2: 2
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Annual Tax Amount: 6372.680000000
Source Listing Status: Active
County: Multnomah
Cap Rate: 5.87
Directions: @ Historic Corner of SE 69th + Belmont
Tax Year: 2023
Source Property Type: MultiFamily
Source Neighborhood: MT. TABOR
Parcel Number: R283089
Subdivision: MT. TABOR
Zoning: CM1
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $unknown + $unknown $233,490 | $6,234 |
| 2021 | $unknown + $unknown $226,690 | $6,129 |
| 2020 | $unknown + $unknown $220,090 | $5,622 |
| 2019 | $unknown + $unknown $213,680 | $5,415 |
| 2018 | $unknown + $unknown $207,460 | $5,256 |
| 2017 | $unknown + $unknown $201,420 | $5,038 |
| 2016 | $unknown + $unknown $195,560 | $4,610 |
| 2015 | $unknown + $unknown $189,870 | $4,489 |
| 2014 | $unknown + $unknown $184,340 | $4,422 |
| 2013 | $unknown + $unknown $178,980 | $4,319 |
| 2012 | $unknown + $unknown $158,360 | $3,561 |
| 2011 | $unknown + $unknown $145,730 | $3,248 |
| 2010 | $unknown + $unknown $141,490 | $3,081 |
| 2009 | $unknown + $unknown $137,370 | $3,001 |
| 2008 | $unknown + $unknown $133,370 | $2,832 |
| 2007 | $unknown + $unknown $129,490 | $2,823 |
$2,350,000
RMLS
Sold 2011-07-29
$552,500
RMLS
Listed 2011-05-25
$550,000
RMLS
Operating Expense: 6720
Building Area Total: 8064
Building Exterior Type: WoodComposite
Foundation Details: ConcretePerimeter
Property Age: 113
Property Condition: Restored
Roof: BuiltUp
Levels or Stories: 3
Water Source: PublicWater
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.