2315 Portland Ave
Property Description
Projected 12.9% self-managed cap rate (11.6% professionally managed). This four-unit investment opportunity consists of two adjacent parcels being sold together, including a three-unit apartment building at 2315 Portland Avenue and a detached single-family home with private access and garage at 2316 Tyler Avenue. The property generates $45,984 in annual gross income and $36,084 in annual NOI. One unit is currently vacant and rent-ready, allowing the next owner to immediately increase income while the remaining units continue generating cash flow. The Portland Avenue building (3 units) has undergone extensive improvements, including newer roofing, siding, trim, replacement windows, exterior paint, gutters, exterior lighting, concrete repairs, landscaping, updated PEX plumbing, drain line improvements, and a newer water heater. Each apartment includes laundry connections and individual room heaters for efficient heating and simplified maintenance. The detached Tyler Avenue home ( 1 SFR) was extensively renovated before the current tenancy and features updated flooring, bathroom, lighting, plumbing, electrical devices, replacement siding and windows, a newer roof and gutters, laundry connections, and a spacious detached garage. Both properties utilize window AC units and efficient, low-maintenance heating systems designed to minimize long-term ownership costs. The properties share a water service and are being sold together, creating a turnkey investment with stable long-term tenants, immediate leasing upside, and attractive cash flow from day one. A current rent roll and operating information are available under Documents.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $274,900 |
| No. of Units: | 4 |
| Year Built: | 1900 |
| Lot Size: | 3,338.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $68,725 |
| Property Website | Click Here |
| Number of Bedrooms: | 5 |
| Number of Bathrooms: | 4 |
ID: 3yd-GLARKY-1726467
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