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Property Description

Studs-Out remodel with exceptional craftsman touches and thoughtful upgrades throughout. This building is a 10! Perfect for owner occupants looking for a premium stand-alone artist/workshop/studio! Welcome home to the iconic Brooklyn Apartments! 8 Residential units in total (plus shop, office and basement). The original 1907 building has been lovingly cared for and completely updated with new systems all while keeping the vintage charm of the Arts & Crafts era intact. The original building includes a mix of (2) 2-bedroom, (4) 1-bedroom units and (1) studio apartment with a separate office space in the basement. All the units feature stylish finishes, creative use of space and vintage flair! The building's basement is very spacious and open area for future storage / extra unit potential. The detached ADU (garage/shop with 2-bedroom owner's unit) was built in 2013 and is perfect for the woodworker, artist or craft maker looking for their own detached and free-standing 873sf shop! The unit features amazing views to the east off their own private deck. The unit itself is dialed-in with gorgeous crown molding and built-ins throughout. The shop is fully functional with all the electrical upgrades one would expect. The building is currently fully occupied with projected income of $162,180 annually and projected NOI of $110,410. All units have been given rent increase notices to be effective 4/1/25 making this an attractive truly turn-key investment. The seller is a carpenter and a craftsman - the pride of ownership will amaze you.

Overview

Property Status
Sold
Lot Size
8,276 Sq.Ft.
MLS ID
24024292
Property Type
Multi-Family
Year Built
1907

Features & Amenities

Neighborhood
Portland
View Description
City, Mountain, Territorial
Stories
4
Water Source
Public Water
Roof
Composition
Lot Features
Corner Lot, On Busline
Parking
Assigned
Heat Type
Zoned
Air Conditioning
Mini Split
Sewer
Public Sewer
Substructure
Concrete Perimeter
Security Features
Entry, Fire Sprinkler System, Intercom Entry
Elementary School
Grout
Middle School
Hosford
High School
Cleveland
Sales Price
$1,800,000
Real Estate Tax
$12,050/yr
Zoning
CM1

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4318 SE MILWAUKIE AVE

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