Historic Fairmount - Sale Pending
2561 NW Upshur Street, Portland, Oregon 97210
Description:The Historic Fairmount Apartments are a historic property originally opened as the Hotel Fairmount for the 1905 Lewis & Clark Centennial Exposition. Located in prestigious NW Portland, the Fairmount Inn is listed on the National Register of Historic Places with taxes frozen at 2000 levels through 2015 with the possibility of extending a tax reduction to 2030.
Price: $4,800,000
Status: In Contract
County: Multnomah
Unit: 79
Unit Mix: (10) 1-bed 1-bath units; (13) 2-bed 1-bath units; (50) 2-rooms with shared bath and (6) 3-rooms with shared bath.
Floors: 2
Siding: Wood
Roof Type: Flat
Year Built: 1904
Building Size: 41650
Land Size: 0.63 Acres
Unit Price: 60759.0000
Price per SF: 115.2500
CAP Rate: 6.58%
GIM: 8.11
Laundry Room: Y
Rental Office: Y
On Site Manager: Y