This was a very unique property in Northeast Portland that I sold. It was being sold as a Tri-plex but it was zoned for mixed use commercial and residential. It was probably the coolest property I have worked on and was a very complex deal. The main house was a big Craftsman house that was converted into office space and the attic and garage were converted to residential apartments. The complexity was mainly because when you buy a property like this sometimes the bank you get the loan through won’t let you get a residential loan. Often times you have to get a commercial loan. A commercial loan typically means a higher down payment in interest rate. I was the Buyer’s Agent and I was able to negotiate for the buyer to be able to get appraisal before the inspection contingency started to see if the bank would allow a residential loan. We were successful! The buyer was able to get a residential home loan with a smaller down payment and interest rate to close this deal. If you are looking for a commercial agent, I would love to help!
Biker’s paradise (Score 99) centrally located to shopping, cafes, restaurants, entertainment, parks, public transport & min to downtown Portland. Remodeled Craftsman Triplex: Main house – 2 levels w/refinished H/W floors, Crown molding, French doors & claw foot tub plus an unfinished basement w/good ceiling height. Attic studio completely remodeled w/SS appliances & deck with City views. Detach 2/1 ADU w/AC,SS appl,W/D.
Thank you for reading and please feel free to call or text me at 503-567-1514.
Majors Real Estate