2220 NE LAFAYETTE AVE

McMinnville, OR 97128

List Price

$1,025,000

Price Change

▼ $11,500 1513141007

Days on Market

99

MLS#

17065640

Property Type

Multifamily

Lot Size

20, 000 SqFt to .99 Acres

Region

Yamhill County including Willamina

Status

Active

Property Description

Back on the market no fault of property or seller. Rare opportunity to purchase a newly-constructed, multi-family property in an up-and-coming market. All units include dish washer, microwave, range & fridge. Ground floor units have small yard with patio. Upper unit has a deck. Shared laundry with 3 washers/dryers. Land fronting Lafayette may be buildable. Buyer to confirm. Fully leased with wait list.

Additional Information

Tax Amount

$1,838

Year Built

2017

High School

Mcminnville

Elementary School

Grandhaven

Middle School

Patton

Garage Spaces

12

Stories

2

Terms

Cash, Conventional

Basement Foundation

Slab

Fuel Description

Electricity

Heating Description

Wall

Hot Water Description

Electricity

Exterior Description

Block, Fiber Cement

Roof Type

Metal

Sewer Description

Public

Water Description

Public

Sq Ft Approximate Building Total

4489

Capitalization Rate

6.04

Operating Expenses Actual

24353

Gross Income Actual

90600

Gross Rent Multiplier

11.31

Net Income Actual

62623

Occupancy Types

Vacant

Security Or Entry

Fire Sprinkler

Utilities Included

None

Parking Description

Open, Paved

Covenants/Restrictions

No

Number Of Units Total

7

Unit Type One Baths Total

1

Unit Type One Beds Total

1

Unit Type One Rent

925

Unit Type One Sq Ft

506

Unit Type One Units Total

1

Unit Type Two Baths Total

1

Unit Type Two Beds Total

1

Unit Type Two Rent

925

Unit Type Two Sq Ft

498

Unit Type Two Units Total

1

Unit Type Three Baths Total

1

Unit Type Three Beds Total

2

Unit Type Three Rent

1115

Unit Type Three Sq Ft

622

Unit Type Three Units Total

1

Unit Type Four Baths Total

1

Unit Type Four Beds Total

2

Unit Type Four Rent

1150

Unit Type Four Sq Ft

571

Unit Type Four Units Total

1

Unit Type Five Baths Total

1

Unit Type Five Beds Total

3

Unit Type Five Rent

1250

Unit Type Five Sq Ft

714

Unit Type Five Units Total

1

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(503) 536-6467

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Listing courtesy of Keller Williams Realty Portland Premiere.

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