13414 NW SHERRY St
Property Description
*Don't Walk the Property* Cap rate is 6.2% with current rental income. 5-10 additional units can be added! Recent remodeling includes all new water and sewer line, new tankless water heaters, new electrical panels. Exceptional investment and development opportunity in the heart of Cedar Mill! This remodeled duplex features two spacious 3-bedroom, 1-bath units, offering strong rental appeal in a highly desirable location. A detached shop provides additional income and yard care, currently leased for $600/month. Situated on a generous, multi-family zoned lot, the property offers significant upside with the potential to add approximately 5-10 additional units while retaining the existing improvements. Estimated 9-12 unit project is achievable while keeping the existing structure. (buyer to complete all due diligence with Washington County). Minutes to Nike, Intel, downtown Portland, shopping, restaurants, parks, and public transit, this is a rare opportunity to own a cash-flowing asset with outstanding future development potential.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $799,000 |
| No. of Units: | 2 |
| Year Built: | 1951 |
| Lot Size: | 2,485.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $399,500 |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 2 |
ID: 3yd-RMLSOR-741838046
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