Sold: May 13, 2024
Sold: May 13, 2024

$650,000

7 Beds 4 Baths SQFT
Type: Multi-Family

2418 CEDAR CIR
Forest Grove, OR 97116

MLS#: 24581375
Jesse Dill & The Property Group Photo
Jesse Dill & The Property Group
Premiere Property Group
Broker
Agent Cell: 503.969.3236
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 Area0 sqft
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

Additional Details

Price History

  

Similar Properties

$650,000

7 Beds 4 Baths SQFT
Type: Multi-Family

2418 CEDAR CIR
Forest Grove, OR 97116

MLS#: 24581375
Jesse Dill & The Property Group Photo
Jesse Dill & The Property Group
Premiere Property Group
Broker
Agent Cell: 503.969.3236