reed college 10-plex€¦ · reed college 10-plex this information has been secured from sources we...

REED COLLEGE 10-PLEX

10-Unit Multi-Family Investment

4522 - 4608 SE 29th Avenue, Portland, Oregon 97202

MULTI-FAMILY INVESTMENT PROPERTY ANALYSIS

136 NE 28th

Avenue

Portland, Oregon 97232

503-327-8237 Office

503-954-3087 Fax

www.equitypacificrealestate.com

http://www.equitypacificrealestate.com/


This information has been secured from sources we believe to be reliable, but Equity Pacific Real Estate LLC makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and

bears all risk for any inaccuracies.

Subject Property Exterior Photos




Subject Property Interior Photos




Price: $1,975,000

Down Payment: 50% $987,500

Number of Units: 10

Price/Unit: $197,500 $987,500

Building/SF: 8,390

Price/SF $235

Current Cap: 4.31%

Market Cap: 6.93% Parcel ID

Current GIM 15.1 Lot Size

Market GIM 10.5 Utilities paid by Tenant

Year Built: 1962

Current Market 2017 Actual % EGI Per Unit

INCOME EXPENSES

Scheduled Rent Income $132,000 $186,600 Taxes $18,284 - $1,828

RUBS/Pet Rent/Laundry $2,400 $7,560 Insurance $2,108 - $211

Scheduled Gross Income $134,400 $194,160 Water & Sewer $5,845 - $585

Less: Vacancy (3%) ($4,032) ($5,825) Trash/Recycling $1,481 - $148

Effective Gross Income $130,368 $188,335 Gas & Electricity $608 - $61

Less: Expenses ($45,166) ($51,543) Management $6,518 5.00% $652

Net Operating Income $85,202 $136,792 Maintenance & Repairs $5,215 4.00% $521

Turnover & Cleaning $2,607 2.00% $261

Year 1 Debt Service ($63,613) ($63,613) Reserves $2,500 - $250

Pre-Tax Cash Flow $21,588 $73,179

Principal Reduction $14,569 $14,569 Total Expenses $45,166 34.6% $4,517

Total Return 3.7% $36,157 8.9% $87,748

Cash Yield 2.2% $21,588 7.4% $73,179

Total Units Unit Type Rent Rent/PSF Rent Rent PSF

9 2BR-1BA 825 SF $1,000 - $1,300 $1.21 - $1.58 $1,595 $1.93

1 1BR-1BA 600 SF $900 $1.50 $1,195 $1.99

10 $11,000 $15,550

Additional Information

R159365, R159366, R159367

Approximate SF/Unit

0.56 Acre (25,000 SF)

Electricity

Annualized Operating Data Annualized Expenses

Scheduled Income Current Market

4522 - 4608 SE 29th Avenue

Portland, Oregon 97202

Financing Summary

New Multi-Family Loan in the amount of

Summary Location

Amortized over 30 Years

at 5.00% Principal and Interest

INVESTMENT SUMMARY


This information has been secured from sources we believe to be reliable, but Equity Pacific Real Estate LLC makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

RENT SURVEY

PROPERTY LOCATION

YEAR BUILT

TOTAL # OF

UNITS UNIT TYPE

UNIT SF

CURRENT RENT

RENT/PSF SOURCE PHOTO

4522 SE 29th Ave Portland, OR 97202

*Subject Property

1962 10 9 – 2BR/1BA 1 – 1BR/1BA

825 600

$1000 - $1300 $900

$1.21 - $1.58 $1.50

Owner

3006 SE 21st Ave Portland, OR 97202

1964 2 2BR/1BA 800 $1595 $1.99 Craigslist 7/9/18

Holgate Lofts 1424 SE Holgate Blvd Portland, OR 97202

1972 20 2BR/1BA 750 $1545 $2.06 Craigslist 7/9/18



PROPERTY LOCATION

YEAR BUILT

TOTAL # OF

UNITS UNIT TYPE

UNIT SF

CURRENT RENT



1972 2 2BR/1BA 780 $1795 $2.30 Craigslist 6/25/18

3824 SE Lafayette Ct Portland, OR 97202

1952 2 2BR/1BA 792 $1595 $2.01 Craigslist 5/3/18

3968 SE Gladstone St Portland, OR 97202

1950 4 1BR/1BA 550 $1100 $2.00 Craigslist 4/25/18



PROPERTY LOCATION

YEAR BUILT

TOTAL # OF

UNITS UNIT TYPE

UNIT SF

CURRENT RENT



1968 4 2BR/1BA 800 $1450 $1.81 Craigslist 3/2/18

1334 SE Boise St Portland, OR 97202

1968 8 1BR/1BA 616 $1295 $2.10 Craigslist 3/2/18



RECENT MULTI-FAMILY SALES COMPARABLES

PROPERTY LOCATION

YEAR BUILT # UNITS

UNIT MIX / COMMENTS PRICE

PRICE / UNIT

PRICE / SF CAP RATE SOLD PHOTO


*Subject Property

1962 10 9 – 2BR/1BA 1 – 1BR/1BA

$1,975,000 $197,500 $235 4.31% TBD

Cedar Breaks Apts 4032 SE Holgate Blvd Portland, OR 97202

1973 10 2 – 2BR/1.5BA 8 – 2BR/1BA

$2,050,000 $205,000 $258 5.24% Active

Golden Key Manor 1726 NE Hancock St Portland, OR 97212 SOLD by

1966 10 2 – 3BR/1BA 4 – 2BR/1BA 4 – 1BR/1BA

$2,150,000

$215,000 $234 5.06% July 2018

1943 NE Tillamook St Portland, OR 97212

1961 6 6 – 2BR/1BA $2,025,000 $337,500 $338 4.43% July 2018



PROPERTY LOCATION

YEAR BUILT # UNITS


PRICE / UNIT

PRICE / SF CAP RATE SOLD PHOTO


1966 6 2 – 2BR/1BA 4 – 1BR/1BA

$1,200,000 $200,000 $239 5.38% March 2018

3454 SE Cora Dr Portland, OR 97202

1972 6 5 – 2BR/1BA 1 – 1BR/1BA

$1,222,500 $203,750 $225 4.30% March 2018


1922 10 8 – 1BR/1BA 2 – Studio

$2,200,000 $220,000 $260 4.10%

March 2018

1512 SE Hawthorne Portland, OR 97214

1972 6 4 – 2BR/1BA 2 – 1BR/1BA

$1,200,000 $200,000 $154 NA Oct 2017



RECENT PLEX SALES COMPARABLES

PROPERTY LOCATION

YEAR BUILT # UNITS


PRICE / UNIT

PRICE / SF SOLD PHOTO


*Subject Property

1962 2 2 – 2BR/1BA

$395,000 $1975,000 $235 TBD

1737 NE 22nd Ave Portland, OR 97212

1952 4 4 – 2BR/1BA $1,100,000 $275,000 $286 April 2018

2149 NE Clackamas St Portland, OR 97232

1908 4 1 – 2BR/1BA 2 – 1BR/1BA

1 – Studio

$850,000 $212,500 $262 March 2018



PROPERTY LOCATION

YEAR BUILT # UNITS


PRICE / UNIT


919 NE Alberta St Portland, OR 97211

1943 4 4 – 1BR/1BA $980,000 $245,000 $281 March 2018

731 SE Linn St Portland, OR 97202

1966 2 2 – 2BR/1BA $560,000 $280,000 $315 Jan 2018

3713 SE Holgate Blvd Portland, OR 97202

1980 2 2 – 2BR/1BA $475,000 $237,500 $266 Jan 2018



PROPERTY LOCATION

YEAR BUILT # UNITS


PRICE / UNIT


1943 SE Harney St Portland, OR 97202

1959 2 2 – 2BR/1BA $525,000 $262,500 $346 Nov 2017

2012 SE Tenino St Portland, OR 97202

1973 2 2 – 2BR/1BA $500,000 $250,000 $306 June 2017

3427 SE Cora Dr Portland, OR 97202

1970 2 2 – 2BR/1BA $510,000 $255,000 $281 May 2017

reed college 10-plex€¦ · reed college 10-plex this information has been secured from sources we...

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