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Listed by Richard Ballew Realty

$789,000

Est. payment - /mo

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7,405 Sqft Lot

Price Dropped by $61K

1120 SW BROADWAY DR Portland, OR 97201

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Tommy Jedrzejczyk

tommy@tltre.com +1(503) 506-4646

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 374309510

HOA Y/N No

Year Built 1904

Annual Tax Amount $6,463

Tax Year 2024

Lot Size 7,405 Sqft

Property Description

7.36% CAP RATE | LEGAL TRIPLEX | FULLY REMODELED | EXCEPTIONAL LOCATION | STRONG RENTAL HISTORY A rare opportunity to own a legal triplex in one of Southwest Portland's most desirable locations. Did you know residential financing is available for properties with up to 4 units? If purchasing as a primary residence you may be able to live in one unit and rent out the others. Ask your lender for details and qualification requirements. Offering an estimated 7.36% capitalization rate, low annual property taxes of $6,214.72, beautifully remodeled units, and an outstanding rental history. Perfectly positioned just 1.8 miles from Historic Council Crest Park—Portland's highest point and one of the city's premier scenic destinations—the property also enjoys close proximity to OHSU, downtown Portland, major employers, shopping, dining, and public transportation. Each unit has been thoughtfully updated and includes its own washer and dryer, a highly desirable amenity that enhances tenant satisfaction and marketability. Additional improvements include new electrical meters, further enhancing the property's long-term functionality and appeal. For investors seeking stable cash flow, the combination of low operating expenses, quality renovations, excellent tenant demand, and a premier Southwest Portland location creates a compelling investment opportunity. Rare Bonus Opportunity: An adjacent vacant lot is available for purchase either separately or together with the triplex, providing additional flexibility for future expansion, investment, or development potential. Buyers should perform their own due diligence regarding permitted uses and development possibilities. This property offers an outstanding combination of location, quality, and income potential that is seldom available. SELLER RATE BUYDOWN AVAILABLE: Seller is willing to entertain a mortgage rate buydown to help reduce the buyer's interest rate and monthly payment, subject to acceptable terms and lender approval.

Location

State OR

County Multnomah

Area _148

Zoning R10

Rooms

Basement Daylight

Interior

Heating Baseboard, Forced Air

Cooling None

Exterior

View Park Greenbelt, Trees Woods, Valley

Roof Type Composition

Garage No

Building

Lot Description Green Belt, Public Road, Sloped, Trees, Wooded

Story 3

Foundation Slab

Sewer Septic Tank

Water Public Water

Level or Stories 3

Schools

Elementary Schools Ainsworth

Middle Schools West Sylvan

High Schools Lincoln

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://listings.pdxpics.com/videos/01999b85-90fb-73ab-ad53-ad3e9337b310

Regional Multiple Listing Service (RMLS)

NEARBY SCHOOL & BUSINESS

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