$1,550,000 Price Analysis    ♡   Portland, OR 97223 16 bed 16 bath 7,272 SqFt ($213/SqFt) 0.43 acre lot. Built 1967 Listed 2024-03-04, Taxes $11,764 | Ⓧ USDA Ineligible due to price & location near Portland |
The Greenburg Townhomes are located in the strong sub-market of Tigard
Oregon and are comprised of 8 large townhome style units. Each apartment features 2 bedrooms and 1.5 baths, vast floor plans, off-street parking and private back patios. Tenants benefit from a unique oversized lot of nearly half an acre, with ample green space and is located nearby.The property has operated at a historically low vacancy, which is in line with the latest average vacancy rate reported for the Tigard submrket 2BR townhome style units at 2.55% (Multi-Family NW, Fall 2023).
This opportunity provides a new owner with a significant and realistic path to organically increase the revenue at lease renewals or turnovers (the average in place is approx. 10-15% below market). There is also a value-add component by implementing a RUBS sy stem in the future, as there is not one currently in place.Excellent access to transportation, via 217, I-5 and 99W ? and along the path of progress as Tigard continues to make improvements in the surrounding areas. The property has been well maintained and provides a stable home for an investor, with a proven path to grow and get up to market rents.
Presented by Greg Messick at
Realty Net, LLC.
Property MLS #24177213 from RMLS
Heating: Yes
Water Heaters: Electricity
Lot Size Acres: 0.43
Lot Size Square Feet: 18730
High School: Southridge
Middle School: Conestoga
Map directions Map directions Map directions Map directionsRent Includes: Sewer, TrashCollection, Water
Unit Type: UnitTypeType1
Bedrooms in Unit-1: 2
Total Bathrooms in Unit-1: 2
Annual Tax Amount: 12112.79999999
Source Listing Status: Active
County: Washington
Cap Rate: 5.58
Directions: SW Greenburg Rd/SW 98th Ave
Tax Year: 2023
Source Property Type: MultiFamily
Source Neighborhood: GREENBURG
Parcel Number: R274483
Subdivision: GREENBURG
Zoning: Multi
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $unknown + $unknown $668,110 | $11,764 |
| 2021 | $unknown + $unknown $648,660 | $11,469 |
| 2020 | $unknown + $unknown $629,770 | $11,125 |
| 2019 | $unknown + $unknown $611,430 | $10,643 |
| 2018 | $unknown + $unknown $593,630 | $10,211 |
| 2017 | $unknown + $unknown $576,340 | $9,842 |
| 2016 | $unknown + $unknown $559,560 | $9,398 |
| 2015 | $unknown + $unknown $543,270 | $8,650 |
| 2014 | $unknown + $unknown $527,450 | $8,530 |
| 2013 | $unknown + $unknown $512,090 | $8,226 |
| 2012 | $unknown + $unknown $497,180 | $7,757 |
| 2011 | $unknown + $unknown $482,700 | $7,930 |
| 2010 | $unknown + $unknown $468,650 | $7,651 |
| 2008 | $unknown + $unknown $441,750 | $7,257 |
| 2007 | $unknown + $unknown $428,890 | $7,064 |
$1,550,000
RMLS
Listed 2024-03-04
$1,675,000
RMLS
Sold 2019-07-08
$1,280,000
RMLS
Listed 2019-03-14
$1,280,000
RMLS
Sold 2012-05-25
$568,000
RMLS
Price Changed 2012-03-21
$595,000
RMLS
Listed 2012-01-14
$619,000
RMLS
Sold 1994-03-14
$326,500
Public Record
Sold 1988-07-01
$215,000
Public Record
Operating Expense: 50195
Building Area Total: 7272
Building Exterior Type: Brick, CementSiding
Foundation Details: ConcretePerimeter
Property Age: 57
Property Condition: Existing
Roof: Shingle
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.