405 Northeast Mason Street
405 Northeast Mason Street
Portland, OR 97211
$10,268,000
Price
—
Beds
27,240 Sq. Ft.
$377 / Sq. Ft.
27,240
Sq. Ft.
$377
per Sq. Ft.
Description
Welcome to the epitome of urban living in this 36-unit apartment complex nestled in the heart of a vibrant North Portland neighborhood. Location is key, and this complex is strategically situated close to public transportation, ensuring easy connectivity to all corners of the city. Residents will find themselves just steps away from an array of shops, trendy eateries, and cultural hotspots. OMSI and MODA Center are just a stone's throw away. Additionally, the proximity to a major employer adds to...Welcome to the epitome of urban living in this 36-unit apartment complex nestled in the heart of a vibrant North Portland neighborhood. Location is key, and this complex is strategically situated close to public transportation, ensuring easy connectivity to all corners of the city. Residents will find themselves just steps away from an array of shops, trendy eateries, and cultural hotspots. OMSI and MODA Center are just a stone's throw away. Additionally, the proximity to a major employer adds to the allure of this prime location. Each of the 36 units has been meticulously designed to offer a contemporary and comfortable living space. The interior features showcase a harmonious blend of style and functionality, with wood floors adding a touch of warmth to the living areas. Stainless steel appliances in the kitchen provide a sleek and modern aesthetic, while the inclusion of air conditioning ensures year-round comfort. One of the standout features of every unit is the convenience of having a Washer & Dryer within the living space. Residents can enjoy the luxury of doing laundry without leaving the comfort of their home, adding to the overall appeal and practicality of these units. Large windows not only frame scenic views of the surrounding neighborhood but also contribute to a sense of spaciousness, natural light floods in making these apartments feel like true urban sanctuaries. Beyond the residential units, the complex features two retail spaces, offering additional revenue potential or the chance to curate a vibrant community hub within the property. This property is part of a portfolio known for its impressive almost 100% occupancy rates. Acquiring a piece of this portfolio presents a rare opportunity to tap into a consistent and reliable income. Please reach out today for more information. We look forward to discussing this with you.
- Listed by Ramona Locken • Keller Williams Realty Portland Premiere
Property Details for 405 Northeast Mason Street
Subdivision
LINCOLN PARK
Parking FeaturesCovered, Garage
ZoningRH
ViewCity
Location
Listing Courtesy of Keller Williams Realty Portland Premiere
Add your commute
LISTING UPDATED: 01/31/2024 06:34 PM
Property Details for 405 Northeast Mason Street
| Status | Active |
|---|---|
| MLS # | 24640157 |
| Days on Market | 98 |
| Taxes | $86,119 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi Family |
| Year Built | 2014 |
| Lot Size | - |
| County | Multnomah County |
Location
Listing Courtesy of Keller Williams Realty Portland Premiere
Add your commute
Building Information for 405 Northeast Mason Street
Stories5Residences36Year Built2014Building Size-Lot Size-
Payment Calculator
$63,213 per month
30 year fixed, 7.25% Interest
Principal and Interest
$56,037
Property Taxes
$7,177
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 405 Northeast Mason Street
Summary
Location and General Information
- Country: US
- Directions: N Albert St, NE MLK Jr Blvd, NE Prescott, NE Grand Ave, NE Mason St
- Road Surface: Paved
School Information
- Elementary School: Sabin
- High School: Grant
- Middle Or Junior School: Mt Tabor
Taxes and HOA
- Tax Year: 2023
- Tax Annual Amount: $86,118.92
- Parcel Number: R207398
- Tax Legal Description: LINCOLN PK ANX, BLOCK 14, LOT 7&8 EXC PT IN STS
Property
Lot Information
- Lot Description: Level
- Lot Size Dimension: 8,276 SF
- Lot Size Range: Sq Ft7000to9999
- Lot Size: 7,000 to 9,999 Sq Ft
Property and Assessments
- Property Type: Multi Family
- Water Description: Public Water
- Property Condition: Approximately
- Year Built: 2014
Utilities
- Cooling Description: Energy Star Air Conditioning, Mini Split
- Fuel Description: Electricity
- Heating Description: Mini Split
- Hot Water Description: Electricity
- Sewer Description: Public Sewer
- Rent Includes: None
Interior and Exterior Features
Exterior Features
- Exterior Description: Aluminum, Metal Siding, Stone
Interior Features
- Basement: None
- Foundation Details: Slab
- Stories: 5
Amenities
Amenities Information
- Internet Service Type: Cable
Multi Family
Multi-Family Information
- Number Of Units Total: 36
- Gross Income Actual: $537,477.00
- Gross Income Projected: $581,400.00
- Gross Rent Multiplier: $19.10
- Investor Information: According To Owner
- Net Income Actual: $362,085.00
- Net Income Projected: 401400
- Operating Expenses Projected: $180,000.00
- Operating Expense: $175,392.00
- Security Features: Entry
- Storage: Locked
- Unit Type Type: Unit Type Type1, Unit Type Type2
- SqFt Approximate Building Total: 27240
Unit 1 Information
- Unit Type 1 Baths Total: 1
- Unit Type 1 Beds Total: 0
- Unit Type 1 Features: Air Conditioning, Dishwasher, Hardwood Floors, Washer Dryer
- Unit Type 1 Rent: $1,328
- Unit Type 1 SqFt: 625.0
- Unit Type 1 Units Total: 11
Unit 2 Information
- Unit Type 2 Baths Total: 2
- Unit Type 2 Beds Total: 1
- Unit Type 2 Features: Air Conditioning, Dishwasher, Hardwood Floors, Washer Dryer
- Unit Type 2 Rent: $1,428
- Unit Type 2 SqFt: 539.0
- Unit Type 2 Units Total: 25
Property History for 405 Northeast Mason Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 405 Northeast Mason Street
Taxable ValueLand-Additions-Total-
Tax Record2023$86,119 ($7,177 / month)
Home Facts
Total Finished SqFt27,240 SqFtAbove Grade Finished SqFt27,240 SqFtStories1Lot Size8,330 SqFtStyleMulti-Family Res (5+ Units)Year Built2014ZoningRHDCountyMULTNOMAHAPN1N1E23CB 06800
Schools near 405 Northeast Mason Street
This home is within Portland School District 1j.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Sabin Elementary School PublicPK to 5 | ||
Harriet Tubman Middle School Public6 to 8 | ||
Grant High School Public9 to 12 | ||
Jefferson High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Keller Williams Realty Portland Premiere
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