2220 NE LAFAYETTE AVE, McMinnville..

Great investment w/ 5.4 cap rate! Completely rebuilt 7-plex will generate $80,400 annually ($6,700/mo). All units will sparkle & incl stove, fridge & micro, plus patio. 1 unit will be ADA-compliant. Large lawn fronting Lafayette may be buildable, buyer to confirm. Shared laundry w/ 3 washer/dryers. DON'T WAIT! The 4-plex next door was this builder's project too, and now it's sold and gone. Do not disturb tenants at 4-plex.

Area: Yamhill County including Willamina

Bank Owned: no

County: Yamhill

Elementary School: Grandhaven

High School: McMinnville

Middle School: Patton

Number Of Units Total: 7

Parking Description: Open, Paved

Short Sale: no

Stories: 2

Subdivision: Fairgrounds

Year Built: 2017

Zoning: C-3

CCRs: no

Common Amenities: Laundry

Fuel Description: Electricity

Hot Water Description: Electricity

Legal Description: .57 ACRES IN SEC 15 T4S R4W PARCEL 2 P2015-04

Limited Representation: Full Service

Occupancy Types: Vacant

RETS Status: Active

Security Or Entry: Fire Sprinkler

SqFt Approximate Building Total: 4489

Unit Features: Microwave, Range, Refrigerator

Video Tour: no

Year Built Description: Under Construction

Basement Foundation: Slab

Exterior Description: Block, Fiber Cement

Lot Description: Level

Lot Size: 20,000 SqFt to .99 Acres

Roofing Type: Composition Roofing

Sewer Description: Public

View: no

Water Description: Public

Capitalization Rate: 5.43

Escrow Preferred: Ticor Title - Devon Morse

Gross Income Actual: 80400

Gross Income Projected: 80400

Gross Rent Multiplier: 13.06

Investor Information: According to Owner, Profit & Loss Statement, Leases

Net Income Actual: 57060

Net Income Projected: 57060

Operating Expenses Actual: 23340

Operating Expenses Projected: 23340

Price Type: List Price

Seller Disclosure: Disclosure

Tax Amount: 1838.21

Tax Deferral: no

Tax ID: R441501701

Terms: Cash, Conventional, Trade

Third Party Approval: no

Utilities Included: Garbage, Sewer, Water

Water Front: no

Water Name: 0.57 Acres

Heating Description: Wall