Sold: May 13, 2024

$650,000

7 Beds 4 Baths 0 SQFT 0.00 Acres

Type: Multi-Family

2418 CEDAR CIR
Forest Grove, OR 97116

MLS#: 24581375

Jesse Dill & The Property Group

Premiere Property Group

Broker

Agent Cell: 503.969.3236

Office Phone: 503.716.8644

VISIT MY WEBSITE

Presented by: Premiere Property Group, LLC -
Sold by: MORE Realty

Property Description

Best Forest Grove duplex cap rate on the market, 6.06!!! Solid investment with this exceptional vintage-hip Mid Century duplex, presenting a rare investment opportunity. Zoned for a 4-plex, the existing garage areas offer the potential for two additional units, with one garage already converted into living space with its own bathroom. Very easy to make a Tri-plex and owner had an estimate for about $20,000 to make the 4th unit. HUGE UPSIDE, with seamless expansion without altering the foundation or roofline. A prime chance for investors to enhance cash flow, ideal for residing in one unit and leasing the other. Boasting parquet flooring and two fireplaces, this property is tailored for strategic investors seeking substantial returns. Excellent Forest Grove location, situated within a quiet confine of a cul-de-sac in a charming neighborhood and close to Pacific University.

General

Body of WaterNone

Buyer FinancingConventional

CityForestGrove

Close Price$650,000

CoolingNone

CountyWashington

Days on Market55

DirectionsSunset Drive, East on 24th, North on Cedar to property

Elementary SchoolJoseph Gale

Gross Income49500.0

HeatingBaseboard

High SchoolForest Grove

Legal DescriptionCEDAR CIRCLE, LOT 7 & PT 6, ACRES 0.18

Listing TermsCash, Conventional, FHA, VALoan

MLS Area_152

Middle/Junior High SchoolNeil Armstrong

Net Operating Income39391.0

Operating Expense10109.0

Property ConditionExisting

Property TypeMultiFamily

Rent IncludesWater

SewerPublicSewer

Standard StatusClosed

StatusSold

Street NameCEDAR

Tax Annual Amount$5,609

Tax Year2023

Total Units2

Waterfront FeaturesOther

Year Built1968

ZoningRMH

Interior

BasementCrawlSpace

FuelDescriptionElectricity

Hot WaterElectricity

StorageGarage, None

Street SuffixCIR

Unit 1 Baths Total2

Unit 1 Beds Total4

Unit 2 Baths Total2

Unit 2 Beds Total3

Unit TypeUnitTypeType1, UnitTypeType2

UnitType1ActualRent2000

UnitType1FeaturesFireplace, Refrigerator, WasherDryer, WoodFloors

UnitType1UnitsTotal1

UnitType2ActualRent1600

UnitType2FeaturesFireplace, Refrigerator, WasherDryer, WoodFloors

UnitType2UnitsTotal1

Exterior

Exterior DescriptionBrick, LapSiding

Foundation DetailsConcretePerimeter

Lot FeaturesCornerLot, Cul_de_sac, Level

Parking FeaturesAssigned, Paved

Road Surface TypePaved

Water SourcePublicWater

Similar Properties

$650,000

7 Beds 4 Baths 0 SQFT 0.00 Acres

Type: Multi-Family

2418 CEDAR CIR
Forest Grove, OR 97116

MLS#: 24581375

Jesse Dill & The Property Group

Premiere Property Group

Broker

Agent Cell: 503.969.3236

Office Phone: 503.716.8644

VISIT MY WEBSITE

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$650,000

2418 CEDAR CIRForest Grove, OR 97116

Property Description

General

Interior

Exterior

Similar Properties

$650,000

2418 CEDAR CIRForest Grove, OR 97116

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2418 CEDAR CIR
Forest Grove, OR 97116

2418 CEDAR CIR
Forest Grove, OR 97116