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3526-3538 SW Beaverton Hillsdale Hwy

6 Unit Apartment Building $1,842,711 CAD ($307,118 CAD/Unit) 5.33% Cap Rate Portland, OR 97221

Investment Highlights

  • Close to shopping
  • Plenty of off street parking
  • Each of the townhomes has a patio in the back
  • Easy freeway access and close to downtown Portland
  • Newer roof, newer windows, on site laundry

Executive Summary

Six unit property that is located off Beaverton Hillsdale Highway in a great area with easy freeway access to downtown Portland and close to shopping and Multnomah Village. The property consists of a five unit townhome and a single family home next door both on separate tax lots. All the townhome units are two bedroom / one and a half bathroom with private patios off the back and locking storage space. Off street parking newer roof, newer windows, on site laundry and looked mailboxes. There is also a 3 bedroom/ 2 bathroom detached house next door on its own tax lot with a one car garage. The house has a newer electric furnace and hardwood floors. Potential to build more unis in the future as the single-family home sits on a 7325 square foot lot that is zoned R2.
The 5-plex units all have Cadet heaters & electric water heaters. The house has an electric furnace that was installed a couple of years ago and it's supplemented by some additional Cadet heaters. The water heater for the house is also electric. No units have A/C units. All tenants pay their own electricity and we pay for water/sewer/garbage for the 5-plex building. The house is allowed to use the dumpster on the premises. They do pay for their own water & sewer.

The house has refrigerator, built-in dishwasher, wall oven, cooktop, range hood and garbage disposal. Both bathrooms have shower/tub combo. The house also has two decks, one with a slider from the living room and a double car garage. There are also hardwood floors in the living and dining room and LVP in the 2 bedrooms on the main level. The area upstairs is a not technically a bedroom although it has egress and a closet. I think it's because of sloping ceilings. I believe there are wall coverings throughout the house (mini blinds & vertical blinds on the slider). There is also a washer/dryer hook up in the basement.

The 5 townhouse units all have refrigerator, built-in dishwasher, garbage disposal, free standing ranges and range hoods. All units have a private patio and a locking storage locker that's probably 4x6. There are wall coverings on all windows, again mini blinds and a vertical blind on the slider. The full bathrooms have shower/tub combos and the 1/2 bath is a sink and commode. There is sufficient parking for two per unit and a couple left over for guests. It's an odd layout but I do have a map. There's a laundry room w/2 coin op washers and 2 coin op dryers. That is also where the tenant's storage lockers are located. There's also a community mailbox stand w/locking mailboxes and a (maybe 2) parcel lockers.

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Financial Summary (Actual - 2024) Click Here to Access

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2024) Click Here to Access

Gross Rental Income (CAD)
Annual $99,999
Annual Per SF $9.99
Other Income (CAD)
Annual -
Annual Per SF -
Vacancy Loss (CAD)
Annual -
Annual Per SF -
Effective Gross Income (CAD)
Annual $99,999
Annual Per SF $9.99
Taxes (CAD)
Annual $99,999
Annual Per SF $9.99
Operating Expenses (CAD)
Annual $99,999
Annual Per SF $9.99
Total Expenses (CAD)
Annual $99,999
Annual Per SF $9.99
Net Operating Income (CAD)
Annual $99,999
Annual Per SF $9.99

Property Facts

Price $1,842,711 CAD
Price Per Unit $307,118 CAD
Sale Type Investment
Cap Rate 5.33%
Gross Rent Multiplier 11.36
No. Units 6
Property Type Multifamily
Property Subtype Apartment
Apartment Style Townhome
Building Class C
Lot Size 0.34 AC
Building Size 5,848 SF
Average Occupancy 95%
No. Stories 1
Year Built 1991
Parking Ratio 1.88/1,000 SF

Unit Amenities

  • Balcony
  • Microwave
  • Storage Space
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower

Site Amenities

  • Laundry Facilities
  • Storage Space

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1.5 5 $2,051 CAD 896
3+2 1 $3,260 CAD 1,908

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • R230474
  • R230476
Land Assessment
$0 CAD (2023)
Improvements Assessment
$0 CAD (2023)
Total Assessment
$966,540 CAD (2023)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024

zoning

Zoning Code R2, Portland
R2, Portland
  • Listing ID: 33058583

  • Date on Market: 2024-09-04

  • Last Updated:

  • Address: 3526-3538 SW Beaverton Hillsdale Hwy, Portland, OR 97221

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