Sold: May 2020
Sale Price: $750,000
Per Unit: $150,000
Maddy’s Depot is a garden-style multifamily property comprised of two buildings; one threeplex (flat) and one duplex (townhomes). All units feature washer/dryer hookups (two including W/D), private patios and 10x20SF yards. The Seller had completed upgrades providing a nearly turnkey property to the market; three unit interiors were substantially renovated in 2018.
Located in the desirable Cully neighborhood in Central Northeast Portland. Residents enjoy easy access to local restaurants, coffee shops, and employment centers including Downtown Portland’s Central Business District and the Portland Airport. Stable occupancy. Positioned to capitalize on Northeast Portland’s continued redevelopment. Traffic count (NE Lombard at NE 47th Ave): 31K+. 327K+ employees within a 5-mile radius.