Movoto Real Estate
Sold on 11/09/2023
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1870 N Main Ave, Gresham, OR 97030

  • $701,000

    Last sold 11/09/2023 after 7 Days

  • bed

  • bath

  • 2,400

    Sqft ($292/Sqft)

Multi-family not for sale
Movoto is helping 15 homebuyers near you

About 1870 N Main Ave

Property type Multi-family
Neighborhood
Year built 1967
HOA fee $0/month
Rental estimate
Property description
SELLER CARRY FINANCING with terrific terms! Extraordinary opportunity to acquire a meticulously updated TRI-PLEX in a highly desirable location. Each unit has 2 spacious bedrooms, an updated bath, a generous 800 sf of living space. All units have been enhanced with new kitchen cabinets, appliances, including washer & dryers, plush carpeting, fresh paint and efficient ductless heating units with air conditioning. The energy-conscious vinyl windows and sliders further enhance the appeal of these units, while private patios front & back provide a serene outdoor retreat. Currently occupied by reliable tenants under 2-3 year leases, the property represents a secure investment opportunity. Seller is offering an attractive 4.5% interest rate land sales contract amortized over 30 years with a 5 year balloon, 25% down. To qualify, buyers must possess excellent credit history and furnish current credit reports. Act swiftly to secure this one-of-a-kind opportunity, as it is unlikely to be available again. Subject to interior inspection. Please do not disturb tenants.
Listed by
Listing Agent - Sally Gaudina
Listing Agent Contact: 503-754-0177
Listing Office - MORE Realty
Source: RMLS mls logo
MLS#23078406 • last updated 2 years ago
Movoto checked RMLS for data 5 minutes ago
Overview
Cooling/AC Heat Pump
Heating Ductless
MLS # 23078406
Type Multi Family
Status Sold
Property Tax 4582
Year Built 1967
Exterior
Roof Composition
# Parking Spaces 6
Exterior Features Wood Siding
Lot Desc CornerLot, Level
Amenities / Utilities
Hot Water Electricity
Sewer/ Septic Public Sewer
Water Source Public Water
Location
County Multnomah
Area 144 - Gresham, Sandy, Troutdale, Corbett
Elementary School Highland
Middle School Clear Creek
High School Gresham
Zoning MDR-244
Directions Burnside, North On Kelly, Becomes 18th St, Right On Main Ave.
APN R283829
Multifamily Details
Unit Type 3: Total Baths 1
Unit Type 1: # Bedrooms 2
Unit Type 1 : Total Baths 1
Unit Type 2: # Bedrooms 2
Unit Type 3: # Bedrooms 2
Unit Type 2: Total Baths 1
Unit Type 1: Rent 1450
Unit Type 3: Rent 1650
Unit Type 2: Rent 1400
Total # of Units 3
Gross Rent Multiplier 12.56
Operating Expense Scheduled 12684
Net Operating Income 43116
Operating Expense 10884
Gross Scheduled Income 55200
Gross Income 54000
Cap Rate 6.36
Net Scheduled Income 42516
Lot/ Land Details
Road Surface Paved
We are not permitted to show value estimates for this property.
  • Jan 2024
    mls logo MLS # 23078406
  • Jan 8, 2024 Sold
    $701,000 (+3.4%)
  • Nov 9, 2023 Pending
  • Nov 2, 2023 Listed
    $678,000
  • 1870 N Main Ave
    $701K
  • Gresham-North Central
    $490K +15% y/y
  • 97030
    $419K -5% y/y
  • Gresham
    $502K -2% y/y
No chart available
Statistics calculated by Movoto

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  • A smooth, fast sale
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2/10
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Source: GreatSchools.org © 2026. All rights reserved.

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  • 1870 N Main Ave
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