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Key Details
Sold Price $2,650,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 16,014 sqft
Price per Sqft $165
MLS Listing ID 24095894
Sold Date 09/10/24
Year Built 1972
Tax Year 2023
Lot Size 0.540 Acres
Property Description
Jennings Lodge in Milwaukie is an 18 unit property built in 1972 and features 12- 2Bed/1Bath apartments and 6- 1Bed/1Bath apartments. New exterior paint 2023, new roof 2017, seal coat and stripe parking lot 2023 and 10 of 18 units have had interior updates over the last 3 years. Conveniently located just a half block to public transportation and easy freeway access to Hwy 205. Fully occupied, this courtyard style plex with it's central pergola, raised beds and benches, is close to local services, grocery, dining as well as parks and the river. Jennings Lodge is fully occupied with rental rates below the current market and is priced at $152K per door. It has 18 parking spots and two handicap spaces. Each unit has it's own storage and there is on site laundry. Current rents $20,275 per month.
Location
State OR
County Clackamas
Community Commons, Laundry
Area _145
Zoning MR1
Rooms
Basement Crawl Space
Interior
Heating Ceiling
Exterior
Community Features Commons, Laundry
Roof Type Composition
Parking Type Assigned, Off Street
Garage No
Building
Lot Description Level, Public Road
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Jennings Lodge
Middle Schools Gardiner
High Schools Oregon City
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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