1627 SE REEDWAY ST $2,577,500

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    1627 SE REEDWAY ST Portland, OR 97202

    Sold
    SOLD 9/22/2021

    $2,577,500

    Market Estimate
    • 0 Beds
    • 0 Baths
    • Multi-Family
    • Listing# 20378958
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    Views: 405

    Property Details

    Fully rented! Stunning modern new construction 12 unit apartment complex from quality local builder with 1bed, 1 bath units. Newly completed with excellent projected rents! Trendy, open concept floor plan showcases modern amenities, tall ceilings, SS appliances, W/D in units, lots of windows, and more! Situated in the desirable Sellwood-Moreland neighborhood! Right near transit, shopping, eateries, parks, schools, and freeway access!

    • General Features
      • Area Portland Southeast
      • Bank Owned Y/N No
      • Capitalization Rate 4.92
      • Country US
      • Fuel Description Electricity
      • Gross Income Actual 188940
      • Gross Income Projected 186900
      • Gross Rent Multiplier 14.82
      • Heating Description Heat Pump
      • Net Income Actual 137767
      • Net Income Projected 141821
      • Number Of Units Total 12
      • Occupancy Types Leased
      • Operating Expenses Actual 45079
      • Operating Expenses Projected 45079
      • Sewer Description Public Sewer
      • Short Sale Y/N No
      • Stories 2
      • Subdivision SELLWOOD MORELAND
      • Supplement Number 0
      • Tax Amount 4305.73
      • Terms Cash,Conventional
      • Third Party Approval Y/N No
      • Utilities Included Water
      • View Type Trees/Woods
      • View Y/N Yes
      • Water Description Public
      • Year Built 2020
      • Zoning R2.5
    • Building Features
      • SqFt Approximate Building Total 5770
      • Unit Type1 Baths Total 1
      • Unit Type1 Beds Total 1
      • Unit Type1 Rent 1317
      • Unit Type1 SqFt 480
      • Unit Type1 Units Total 12
      • UnitTypeType 1
    • Room Features
      • Legal Description MIDWAY, BLOCK 1, LOT 6
      • Limited Representation Y/N Full Service
    • Property Features
      • Lot Description Level
      • Lot Size 5,000 to 6,999 SqFt
      • Property Category Multi Family
    • Schools
      • Elementary School Llewellyn
      • High School Cleveland
      • Middle School Sellwood

    Neighborhood

    97202 (Portland) Demographics

    35 Median Age
    6,582 Population Density (per sq. mile)
    65% College Educated
    $61,768 Estimated Median Income
    8,860 Estimated Total Home Owners
    9,150 Estimated Total Renters
    49% / 51% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    41,719 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $587,500 Median Sales Price
    52 Homes Sold
    75 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- New in Database Source: Multiple Listing Service New Value: $0 -100%
        9/22/2021 12:00:00 AM Sold Source: Multiple Listing Service New Value: $2,577,500
        8/6/2021 11:51:24 AM Status Changed Source: Multiple Listing Service New Value: Pending
        The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS™ of Portland, Oregon. Real estate listings held by brokerage firms other than Berkshire Hathaway HomeServices Real Estate Professionals are marked with the RMLS™ logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2021 RMLS™, Portland, Oregon. This content last updated on 9/27/2021 5:24:19 PM. Some properties which appear for sale on this site may subsequently have sold or may no longer be available. All information provided is deemed reliable but is not guaranteed and should be independently verified. IDX and listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.