Multifamily Property for Sale Anita Risberg, CCIM ... · The Belle House –2265 NW Hoyt St....

Anita Risberg, CCIMPrincipal [email protected]

OmniVest, LLC5 Centerpointe Dr., Suite 400Lake Oswego, OR 97035www.omnivestcire.com503.847.7990

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The Belle House – 13 Units2265 NW Hoyt St. Portland, OR 97210

Multifamily Property for Sale

OmniVest, LLC | 5 Centerpointe Dr., Suite 400, Lake Oswego, OR 97035 | www.omnivestcire.com | 503.847.7990Page 2


The Belle House – 2265 NW Hoyt St. Portland, OR 97210

Confidentiality & Disclaimer

Confidentiality & Disclaimer

All materials and information received or derived and information received or derived from OmniVest, LLC its directors, officers, agents, advisors,affiliates and/or any third party sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of theproperty, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of theproperty, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither OmniVest, LLC its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracyor completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written orverbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and othermatters of significance to such party. OmniVest, LLC will not investigate or verify any such matters or conduct due diligence for a party unlessotherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections andinvestigations including through appropriate third-party independent professionals selected by such party. All financial data should be verified by theparty including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. OmniVest, LLCmakes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. OmniVest, LLCdoes not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance,including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projectedrents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate anyapplicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents fromor for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountantor tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the propertyand whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers,architects, contractors, other consultants and governmental agencies. All properties and services are marketed by OmniVest, LLC in compliance withall applicable fair housing and equal opportunity laws.




Contents Page

Property Information 4

Location Information 8

Financial Analysis 12

Demographics 14

Advisor Bio 16

Table of Contents




PROPERTY SUMMARY

Sale Price: $1,675,000Number Of Units: 13Cap Rate: 5.04%Lot Size: 0.11 AcresBuilding Size: 5008 SFYear Built: 1906

PROPERTY HIGHLIGHTS

• Coin Op Washer/Dryer Onsite• Original Charm & Character• On Street Parking• Various Unit Mixes• Open Floor Plans

PROPERTY OVERVIEW

***Priced below assessed value***

The Belle House was built in 1906 and still retains original charm and character from the time period.

There are 13 units. 1st and 2nd floors each have 6 units, 3rd floor is the loft which has 2 bedrooms, abonus room and a full bath. It also has a private balcony. There is also a basement.

There are coin op washer and dryers onsite. On street parking. Currently owner pays for all utilities.

LOCATION OVERVIEW

Located just northwest of Downtown Portland and the popular Pearl District, Uptown Portland is a topchoice for those seeking a short commute.

Uptown Portland is one of the most desirable neighborhoods in Portland. The lively community spiritserves as a consistent draw for the neighborhood in addition to its unique historic charm and centrallocale. A broad mix of eclectic local businesses provides tenants with various restaurants andentertainment. Most spots in the neighborhood's residential areas are less than three miles fromdowntown, making a quick trip by bike or public transportation feasible. Uptown Portland is oftennicknamed Nob Hill, a nod to the upscale neighborhood in San Francisco. Many locals refer to theneighborhood’s bustling Northwest 23rd Avenue as Trendy Third Avenue, since it is regarded as adestination for trendy shopping and dining.

Uptown Portland acts as a gateway to both the city and nature. There are ample opportunities foroutdoor recreation near the neighborhood, with convenience to Forest Park, Macleay Park,Washington Park, and the Willamette River.

PROPERTY INFORMATION




Property Photos

Unit 4




Property Photos

Unit 6




Property Photos

Unit 11




Regional Map

LOCATION INFORMATION

Neighborhood Map




Location Maps




Aerial Map




Time and Distance from: 2265 NW Hoyt St Portland, OR 97210

Colleges Drive Distance

Pacific Northwest College Of Art 5 min 1.2 mi

Portland State University 6 min 2.2 mi

Oregon Health and Science University 9 min 3.2 mi

Transit / Subway Walk Drive Distance

NW 22nd & Lovejoy 6 min 2 min 0.3 mi

NW 23rd & Marshall 6 min 2 min 0.3 mi

NW 21st & Lovejoy 7 min 2 min 0.4 mi

NW 22nd & Northrup 8 min 2 min 0.4 mi

NW 21st & Northrup 10 min 2 min 0.5 mi

Commuter Rail Drive Distance

Beaverton Transit Center 15 min 6.7 mi

Hall/Nimbus Commuter Rail 17 min 8.6 mi

Airport Drive Distance

Portland International Airport 25 min 11.6 mi

Nearby Transit & Points of Interest




FINANCIAL ANALYSIS

INVESTMENT SUMMARY

PRICE $1,675,000Price per Unit $128,846CAP Rate 5.04%GRM 12.73

FINANCING SUMMARY

LOAN AMOUNT $1,172,500Down Payment $502,500Loan Type FixedInterest Rate 3.25%Term 30 YearsMonthly Payment $5,103Debt Coverage Ratio 1.38

UNIT MIX & MONTHLY SCHEDULED

Type Units Actual TotalStudio+1 1 $895 $8952+1 1 $1,795 $1,795SRO+1 1 $875 $875SRO 10 $740 $7,400TOTAL: 13 $10,965

INCOME & EXPENSES SUMMARY

ANNUALIZED INCOME

Gross Potential Rent $131,580- Vacancy Cost ($6,579)Effective Gross Income $125,000- Operating Expenses ($40,594)Net Operating Income $84,407- Debt Service ($61,234)Net Cash Flow after Debt Service $23,173+ Principal Reduction $23,475TOTAL RETURN $46,648

ANNUALIZED EXPENSES

Repairs & Maintenance $3,383Insurance $2,473Supplies $1,195Legal $1,251Management Fees $6,250Reserves $3,250Real Estate Taxes $13,192Utilities $9,600TOTAL EXPENSES $40,594EXPENSES PER RSF $11.93EXPENSES PER UNIT $3,123

Description Actual

Description Actual




Unit Mix Summary

UNIT NUMBER UNIT BED UNIT BATH UNIT SIZECURRENT RENT

(PER MONTH)

CURRENT RENT

(PER YEAR)

1 SRO Shared 200 $695 $8,340

2 SRO Shared 150 $750 $9,000

3 SRO Shared 200 $825 $9,900

4 SRO Shared 280 $695 $8,340

5 SRO Shared 150 $750 $9,000

6 Studio 1 250 $895 $10,740

7 SRO Shared 200 $695 $8,340

8 SRO Shared 200 $750 $9,000

9 SRO Shared 250 $795 $9,540

10 SRO Shared 170 $750 $9,000

11 SRO Shared 160 $695 $8,340

12 SRO 1 210 $875 $10,500

13 2 1 985 $1,795 $21,540

TOTAL $10,965 $131,580




DEMOGRAPHICS




Demographics Summary




Professional Background

Anita Risberg, CCIM has been recognized by her peers for her service and professionalism. Havingsuccessfully negotiated all types of commercial and investment real estate for almost 30 years, muchof Anita's brokerage practice over the last fifteen years has been centered on multifamily investmentproperty acquisitions and dispositions. Her completed transactions total over $100 million. Servinglocal, regional and national clients across the Pacific Northwest.

She has worked on a wide range of projects that include valuations for attorneys, dispositions forbanks, assemblages, development and redevelopment of existing properties. Anita has cultivated astrong regional network of relationships and exclusive partnerships and is an active liaison with othertop brokers/agents. One of Anita's greatest strengths is her ability to prospect for off-marketopportunities.

Memberships & Affiliations

Served as the 2017 Regional Vice President for Region 1 through the CCIM Institute. She is a memberof CCIM Institute and the National Association of Realtors. 2010 Chapter President Oregon/SWWashington CCIM Chapter. WVCR 2009 Realtor of the year. 2017 Graduate of the JWL leadershiptraining through the CCIM Institute in Chicago.

Education

Bachelors Degree in Business from Mankato State University and Western Oregon University.CCIM Designation, CCIM Institute Chicago, Ill.

2017 Graduate of the JWL leadership training through the CCIM Institute.

[email protected]

OR License No. 870800111 WA License No. 25706

Anita Risberg, CCIMPrincipal Broker

ADVISOR BIO

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Multifamily Property for Sale Anita Risberg, CCIM ... · The Belle House –2265 NW Hoyt St....

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