2144 NE Broadway St - Apartments FOR SALE


Portland, OR 97232- Lloyd District
$799,000 USD
503-810-2219
2144 NE Broadway St, Portland, OR for Sale
$799,000 USD
Apartments - FOR SALE
1/28
null | 6.7% Cap Rate

2144 NE Broadway St
Portland, OR 97232
Lloyd District


HIGHLIGHTS

  • Great Retail Space
  • 1 Apartment with 1 Bedroom and 1 Bath
  • 1 Apartment with 2 Bedrooms, 1 Bath and Attic

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$799,000 USD

PRICE/SF

$156 USD /SF

# OF UNITS

3

PRICE/UNIT

$266,333

CAP RATE

6.7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1907

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,356 SF

ZONING

CM2

APN/PARCEL ID

R193046

ASK ABOUT THIS PROPERTY

Brian PorterJMA PropertiesMore Info
503-810-2219

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Brian PorterJMA PropertiesMore Info
503-810-2219

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.