7706-7726 SE Washington St, Portland, OR 97215

SALE PRICE $2,150,000

BUILDING COUNT 2 (8 Plex)

UNITS PER BUILDING 4

YEAR BUILT 2017

EACH BUILDING SIZE 6,000 SF

ZONING Residential

LOT SIZELot 1 - 3,790 SFLot 2 - 3,824 SF

MARKET Portland

8-Plex on 2 tax lots (4 units per lot) in Montavilla neighborhood, new built (2017), 2-bedroom, 1.5-bathroom townhouse-style units! Hard-wood floors, 2nd story balcony, washer/dryer hookups, indoor bike rack, high-quality interior finishes and HVAC Daikin mini split sys-tems. One block walkd to the shops, yoga studio, restaurants and bars in downtown Montevilla, and just 3/4 mile from Mt. Tabor Park.

Units are currently rented substantially below market, 2 units at $1,000 and most at $1,500 per month, market is between $1,750-$1,850, one unit currently vacant (last week) and it’s on rental market.

There is a value-add component by filing condo declaration and form HOA to sell the units as individual Townhouses. No construction needed; all utilities already separated. Best comp is just next door, 12 units sold or pending in 2 weeks, very similar in construction, amenities, size and number of bathrooms and bedrooms at median price of $344,000 per unit.

OFFERING SUMMERY INVESTMENT OVERVIEW

UNIQUE INVESTMENT OPPORTUNITY

Alex LonderoOregon Licensed Broker0: 503.464.6238Alex@NW-redevelopment.com

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

16365 Boones Ferry Rd, Lake Oswego, OR 97035Each Office Independently Owned and Operated

MULTI-UNIT FOR SALE

7706-7726 SE Washington St, Portland, OR 97215

MULTI-UNIT FOR SALE

PROPERTY PHOTOS

Alex LonderoOregon Licensed Broker0: 503.464.6238Alex@NW-redevelopment.com

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

16365 Boones Ferry Rd, Lake Oswego, OR 97035Each Office Independently Owned and Operated

7706-7726 SE Washington St, Portland, OR 97215

MULTI-UNIT FOR SALE

PROPERTY PHOTOS

Alex LonderoOregon Licensed Broker0: 503.464.6238Alex@NW-redevelopment.com

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

16365 Boones Ferry Rd, Lake Oswego, OR 97035Each Office Independently Owned and Operated

7706-7726 SE Washington St, Portland, OR 97215

MULTI-UNIT FOR SALE

LOCATION PHOTOS

Alex LonderoOregon Licensed Broker0: 503.464.6238Alex@NW-redevelopment.com

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

16365 Boones Ferry Rd, Lake Oswego, OR 97035Each Office Independently Owned and Operated

7706-7726 SE Washington St, Portland, OR 97215

MULTI-UNIT FOR SALE

LOCATION MAPS

Alex LonderoOregon Licensed Broker0: 503.464.6238Alex@NW-redevelopment.com

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

16365 Boones Ferry Rd, Lake Oswego, OR 97035Each Office Independently Owned and Operated

7706-7726 SE Washington St, Portland, OR Investment Underwriting Cashflow Analysis "In Place" 7/1/2020 Market Revenue

Gross Rental Revenue 141,360

156,360

178,800

General Vacancy (4,241)

(4,691)

(5,364)

Expense Reimbursement Revenue 1,440 1,440

5,760

Effective Gross Income 138,559

153,109

179,196

Expenses

Water/Sewer 5,760

5,760

5,760

Trash 1,680

1,680

1,680

Repairs and Maintenance 1,200

1,200

1,200

Management Fee 9,699

10,718

12,544

Insurance 2,200

2,200

2,200

Taxes 22,309

22,309

22,309

Total Operating Expenses 42,848

43,866

45,693

Net Operating Income 95,711

109,243

133,503

Debt Service 92,380

92,380

92,380

After Debt Cashflow 3,331

16,863

41,124

Total Yr 1 Principal Reduction 28,397

28,397

28,397

Total Yr 1 Return 31,728

45,260

69,520

Returns Summary "In Place" 7/1/2020 Market Cap Rate 4.45% 5.08% 6.21% Yr 1 Total Return (incl amortization) 5.90% 8.42% 12.93% Leveraged Cash on Cash 0.62% 3.14% 7.65%

Rent Roll "In Place" 7/1/2020 Market Notes

7706 1,480 1,627

1,850

7710 1,500 1,500

1,850

7712 1,500 1,500

1,850

7716 1,900 1,900

1,900 Expense reimbursements for water.

7718 1,850 1,850

1,850 Expense reimbursements for water.

7720 1,000 1,099

1,850

2 lease break notices. 1 more and lease can be terminated for cause.

7722 1,000 1,850

1,850

Assumes tenant will leave in 90 days. Prior owner's family member.

7726 1,550 1,704

1,900

**"In Place" Rents include market estimates for 7716 & 7718, which are either vacant or have 30 day notices received from tenants. Operating Assumptions Notes

Purchase Price 2,150,000

General Vacancy 3%

Water/Sewer 60 Per Unit Per Month

Trash 140 Per Month

Repairs and Maintenance

150 Per Unit (Annual)

Management Fee 7.0% EGI

Insurance 2,200 Per Year

Taxes 22,309 2019 Taxes (Annual)

Debt Assumptions LTV 75%

Loan Amount 1,612,500

Rate 4.00% Amortization 30 Years

Yr. 1 Amortization Table

Beg Balance Pmt Int Prin Ending Balance

1 1,612,500 7,698 5,375

2,323

1,610,177

2 1,610,177 7,698 5,367

2,331

1,607,846

3 1,607,846 7,698 5,359

2,339

1,605,507

4 1,605,507 7,698 5,352

2,347

1,603,160

5 1,603,160 7,698 5,344

2,354

1,600,806

6 1,600,806 7,698 5,336

2,362

1,598,443

7 1,598,443 7,698 5,328

2,370

1,596,073

8 1,596,073 7,698 5,320

2,378

1,593,695

9 1,593,695 7,698 5,312

2,386

1,591,309

10 1,591,309 7,698 5,304

2,394

1,588,915

11 1,588,915 7,698 5,296

2,402

1,586,513

12 1,586,513 7,698 5,288

2,410

1,584,103

Total 63,983

28,397