$1,550,000 Price Analysis    ♡   Milwaukie, OR 97222 12 bed 12 bath 5,400 SqFt ($287/SqFt) Built 1971 Listed 2024-02-05, Taxes $5,088 | Ⓧ USDA Ineligible due to price & location near Milwaukie |
Rare turn-key investment opportunity located at the end of the Milwaukie MAX line.
This fully leased-up 6-unit investment features meticulously renovated 2BD/1.5 BA apartments. The property comprises three separate 2-story duplex buildings on two tax lots, ideally situated in Milwaukie between two main arteries, Oatfield Road and McLoughlin Blvd. The remodeled units showcase updated kitchens with new cabinets, countertops, fixtures, hardware and stainless steel appliances. Bathrooms have been modernized with new vanities, flooring, toilets and fixtures.
The remaining units boast new laminate flooring, carpets in bedrooms, light fixtures, in-wall heaters, outlets, doors, hardware and fresh paint. Each unit includes a primary suite with an attached half bath, a new washer and dryer located in the hallway and an attached exterior storage unit. The property offers ample off-street parking, semi-private large yard space for lower units and charming new large decks for the upper units. Exterior enhancements feature new fences, decks, double-paned vinyl windows, newer roofs and exterior paint. With a residential feel and high incom potential, the updated 6-Plex ensures a low-maintenance investment for the discerning buyer.
Presented by Amanda Rose at
RE MAX Advantage Group.
Property MLS #24450095 from RMLS
Heating: Yes
Water Heaters: Electricity
High School: Putnam
Middle School: Alder Creek
Map directions Map directions Map directions Map directionsRent Includes: Sewer, TrashCollection, Water
Unit Type: UnitTypeType1, UnitTypeType2, UnitTypeType3
Bedrooms in Unit-1: 2
Bedrooms in Unit-2: 2
Bedrooms in Unit-3: 2
Total Bathrooms in Unit-1: 2
Total Bathrooms in Unit-2: 2
Total Bathrooms in Unit-3: 2
Annual Tax Amount: 7721
Source Listing Status: Active
County: Clackamas
Cap Rate: 5.96
Directions: Silver Springs Road
Tax Year: 2023
Source Property Type: MultiFamily
Parcel Number: 00170861, 00170852
Zoning: MR1
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2023 | $unknown + $unknown $269,017 | $5,088 |
| 2022 | $unknown + $unknown $261,182 | $4,815 |
| 2021 | $unknown + $unknown $253,575 | $4,639 |
| 2020 | $unknown + $unknown $246,190 | $4,493 |
| 2019 | $unknown + $unknown $239,020 | $4,429 |
| 2018 | $unknown + $unknown $232,058 | $3,876 |
| 2017 | $unknown + $unknown $225,299 | $3,753 |
| 2016 | $unknown + $unknown $218,737 | $3,619 |
| 2015 | $unknown + $unknown $212,366 | $3,517 |
| 2014 | $unknown + $unknown $206,181 | $3,324 |
| 2013 | $unknown + $unknown $200,176 | $3,282 |
| 2012 | $unknown + $unknown $194,346 | $3,207 |
| 2011 | $unknown + $unknown $188,685 | $3,215 |
| 2010 | $unknown + $unknown $183,189 | $3,040 |
| 2009 | $unknown + $unknown $177,853 | $2,946 |
| 2008 | $unknown + $unknown $172,673 | $2,767 |
| 2007 | $unknown + $unknown $167,644 | $2,708 |
$1,550,000
RMLS
Listing removed 2024-05-04
$1,550,000
RMLS
Relisted 2024-03-25
$1,550,000
RMLS
Listing removed 2024-02-15
$1,550,000
RMLS
Listing removed 2024-02-05
$1,550,000
RMLS
Listed 2024-02-05
$1,550,000
RMLS
Listed 2024-01-24
$1,550,000
RMLS
Sold 2021-11-10
$450,000
Public Record
Sold 1992-08-13
$120,000
Public Record
Sold 1989-01-01
$81,500
Public Record
Operating Expense: 27620
Building Area Total: 5400
Building Exterior Type: T111Siding, WoodSiding
Foundation Details: ConcretePerimeter
Property Age: 53
Property Condition: UpdatedRemodeled
Roof: Composition
Levels or Stories: 2
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.