2144 NE Broadway St
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2144 NE Broadway St
3 Unit Apartment Building $1,136,282 CAD ($378,761 CAD/Unit) 6.70% Cap Rate Portland, OR 97232
Investment Highlights
- Great Retail Space
- 1 Apartment with 2 Bedrooms, 1 Bath and Attic
- 1 Apartment with 1 Bedroom and 1 Bath
Executive Summary
Income Producer! Located within the pulse of Portland's sought-after Broadway/Irvington district, this 3-unit Income property presents an excellent opportunity for current above-market returns with room for future growth. Highlighting the property is a turn-key remodeled commercial space with prime Broadway street frontage. Currently the home of the Paz Hair Lounge, a stable tenant with a mutual lessor-lessee extension exercisable in March, 2025. Beyond the commercial space awaits an income-generating Duplex, where historic charm intertwines seamlessly with contemporary comforts. Classic Arts & Crafts era features of an Old Portland converted home include high ceilings, built-in woodwork, hardwood floors, large windows, and craftsman touches throughout. The exterior was recently painted and includes ample on-site parking for residents. CM2 Commercial zoning offers boundless possibilities for future business or residential unit growth. Tremendous potential for high ROI, with current cap rate at 6.73% and low 11.5 GRM - this income producer if fully occupied & has great potential to grow! Please do not disturb the tenants. Property is not in the Irvington Historic District. A principal of the owner has an inactive Oregon real estate license. Buyer to perform own due diligence and to verify all information to their satisfaction.
Data Room Click Here to Access
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,100
|
$19.34
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,100
|
$19.34
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$22,922
|
$4.47
|
| Net Operating Income |
$76,178
|
$14.86
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,100 |
| Annual Per SF | $19.34 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,100 |
| Annual Per SF | $19.34 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $22,922 |
| Annual Per SF | $4.47 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $76,178 |
| Annual Per SF | $14.86 |
Property Facts Under Contract
Site Amenities
- Laundry Facilities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $3,058 CAD | 1,019 |
| 1+1 | 1 | $2,446 CAD | 1,102 |
| 2+1 | 1 | $2,695 CAD | 1,902 |
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Walk Score ®
Walker's Paradise (94)
Bike Score ®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Number | R193046 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $297,778 CAD |
PROPERTY TAXES
Parcel Number
R193046
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$297,778 CAD
zoning
| Zoning Code | CM2 (Commercial Mixed Use) |
| CM2 (Commercial Mixed Use) |
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2144 NE Broadway St
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