tomo logo

$2,795,000

Beds
3
sq ft
Unknown

1558 E 3rd St, Newberg, OR 97132

1558 E 3rd St

Newberg, OR 97132

  • 95 days on market
Assumable financing available for a qualified buyer! Fixed rate of 3.37% through May of 2026! Strong occupancy history with upside in rents based on most recent highest achieved of $2,025! A 6.01% cap rate on actuals and 7.94% on pro forma. The Garden Court Apartments were built in 1970 and are comprised of 12 three-bedroom one-and-a-half bath townhouse-style apartments. At 1,100 square feet, the spacious layouts consist of an open floorplan, modern kitchen amenities, washer dryer hook ups, and private fenced in patios. Three buildings, with wood-framed construction and pitched composition shingle roofs make up the complex. All units have vinyl windows and sliders. Ample parking with one covered parking spot and one uncovered parking spot per unit. All three buildings received new exterior paint, gutters and roofs in 2020.

Details

Property type

Est. home value

$2,551,575

Lot size

0.69 acres

Price per sq ft

Unknown

Year built

1970

Annual property taxes

$11,253.81

Price History

09/19/2024
PortlandOR

PortlandOR #24507209

Listed
$2,795,000
-1.93%
08/28/2024
PortlandOR

PortlandOR #23365604

Removed
$2,850,000
08/02/2024
PortlandOR

PortlandOR #23365604

Removed
$2,850,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Mountain View

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Umpqua Bank

Loan start date

May 2021

Original loan amount

$1,625,000

Est. remaining balance

Not provided

Interest rate

3.13%

Loan type

Purchase Money Mortgage

Seller

Hawthorne Elliott Apartments Llc and Newberg 2021 Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 12/23/2024 at 2:40 AM

Listing updated: 09/19/2024 at 6:22 PM

Listed by: Glenna Cooke, GA Cooke Real Estate Services Phone #: (503) 612-9282

MLS: PortlandOR #24507209

PortlandOR logo

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