1/2 Acre in the trees with 2 homes, lake access, Lake Oswego, Oregon

$799,000
5
4
3,218
sq. ft.
$248
per sq ft
Heated sq ft: 3,218 sq ft
Avg Nightly Rate: $200
Home Legally Sleeps: 12
Occupancy Rate: 45 weeks
Annual Gross Income : 80000
Annual Net Operating Income : 70400
Property Type: Multi-Unit Property (B&B)
Ownership Type: Full (100%)
Seasoned Short Term Rental: Yes
Furnishings Included: Yes
For Sale By: Owner
Seller Financing: Will Consider
Niche: Nature
New Construction: Inquire
Days on Vrolio: 253

Property Description

Plenty of guaranteed revenue options or enjoy as a family! This is a very unique property. 1/2 acre in Lake Oswego, lake easement/access at the Lake Grove swim park. There are 2 homes on the property...plus the lot can be split and another home built. This could be a great investment property...so many options! Currently, we run a very successful Airbnb business, doing nightly rentals in both homes. Everything is dialed in with the business including the house manager/cleaner/handyman/gardener, website, and marketing. The business generates around 80K in gross revenue a year. If you want to continue running the Airbnb, we can discuss the business and include the furniture, housewares, etc. Prior to running the Airbnb/doing rentals, my husband and I really enjoyed living in the big house and running our advertising agency out of the cottage. You may decide to live in one home and rent/Airbnb the 2nd home or use it for a mother in law home. We have had great success doing long term rentals in both homes as well. So many options for generating income, or just having a fantastic family home in a wonderful neighborhood! In addition, the lot can be split and a new home built. New homes in the area sell for $1M+ This is a very desirable area with some of the best schools in the state. It is on a quiet dead-end street, close to 1-5, wonderful grocery stores, restaurants, malls, the lake, the Tualatin River plus shops in Lake Grove and Lake Oswego. Several new homes have been built in the neighborhood over the past few years. The Main house was built in 1948 Main house specs: Square footage: 2718 (main house) per home inspector in 2016 4 bedroom, 3 baths hardwood floors throughout the main level 3 level home Main floor: two bedrooms on the main floor, one bedroom has ensuite Upstairs: large master with ensuite, double closets, double sinks, shower. Plus a sep office or reading area. Plenty of storage upstairs in the attic spaces. Basement floor: full-size basement with game room/wet bar, laundry room, lots of storage, and one bedroom with two walk-in closets/storage areas Oversized single car garage with storage loft Wood 8x8 shed Kitchen: gas range, tile countertops, double electric ovens, microwave, tons of storage Gas forced air heat Commercial grade large capacity water heater LED lighting throughout 50 amp RV hook up and room for a 45 foot RV Access to Lake Oswego, up to 2 boats, access to the Lake Grove Swim Park Property taxes: $4972 ​ ​ The Cottage Specs: The cottage was built in the early 90's 500 sq feet One bedroom, one bath with attic storage space Full kitchen, dining area, desk/office area, and living area, and a wood-burning stove. Plus a private deck ​ The Lot/parking: 1/2 acre park-like setting lot There is a lot of parking in the driveway, along the front of the house as well as a very long driveway on the side of the lot where we parked a 40 foot RV and a tow car for a while. ​ As mentioned above the lot can be split. The homes are on septic (sewer is at both ends of the street and on Bonaire Street behind the lot.) However, if you don't want to run the sewer down the street, we had a septic company come out and they said there is room for another septic system. ​ The lawn/landscaping is pretty low maintenance right now since we are running the Airbnb. We have a company come out 2x a month to mow/blow and trim up the plants. However, when we lived in the house, we had grass and a lot of plants/flowers around the house. There are 21 old growth douglas fir trees on the lot, they produce a lot of wonderful shade plus attract birds and native squirrels. ​

Presented by:
Owner:
nicole weber
Seller Financing
Will Consider
Distress Sale
None
Seller Financing Terms
Seasonal Nightly Rates
High: 300
Low: 150
Peak: 250
Special Event: 300
Avarage: 200.00
Furniture Age
2
Est Value of Furnishings
$25,000
Peak & High Seasons
May, June, July, August, September
Ownership Percentage
Full (100%)
Qualifies for foreign national visa
Not sure
Reason for Selling
I want to buy another vacation rental in southern CA where I live most of the year.
Foreign national buyer restrictions from government?
Not sure
Gross Annual Income
80000
Net Operating Income
70400
Stories
3
Additional Indoor Rooms
Attached Garage for No car, Detached In Law Suite, Family Room, Finished basement, Game Room, Living Room, Multiple Master Suites, Unfinished basement
Appliances
Dishwasher, Dryer, Electric appliances, Full stove, Gas appliances, Microwave, Oven, Refrigerator, Washer, Other
Heating/Cooling
Central Heat (gas or electric), Electric or Gas Firelace, No A/C, Wood Burning Fireplace
Floor Coverings
Carpet, Concrete, Real Hardwood
Security
No
Security Description
Half Baths
Inquire
Master Suite(s)
Inquire
Energy Efficiency
Carpet, Double pane-low emissivity windows, Energy Star appliances, Energy efficient lighting, Low flow faucets/toilets, Skylights
Year built
1948
Outdoor Features
Deck, Garden, Sprinkler System
View
Wooded Area
Backyard Exposure
North
Lot Size
1/2 acre of Douglas Fir trees and native plants. Park-like setting with 21 Douglas Fir trees on the lot. Quiet dead-end street, lots of birds, including a flock of peacocks that wander through the neighborhood! Parking for a 45 foot RV and 50 Amp hook up. Plus additional parking for multiple cars. The lot could be split and another home built. New homes in the area go for 1M+. House is located in unincorporated Clackamas County, thus taxes are 1/3 less of homes in the City of Lake Oswego (one street over). A lot fewer regulations with short term rentals too. Main house and cottage in the back of the lot. Main house 4/3. The cottage is a 1/1. Boat access to the private Lake Oswego, plus Lake Grove Swim Park access.
Community Features
Lake Access
Tax Amount/Year
$4,900
CDD Amount
Inquire
Neighborhood
Inquire
Deed Restricted Community
No
Interview Required
No
Neighborhood Amenities
Lake Access
Mandatory HOA
Inquire
Home Legally Sleeps:
12
Onsite Parking
Parking for a 45 foot RV and 50 Amp hook up. Plus additional parking for multiple cars. The driveway fits 3 cars, parking in front of the house for 5 cars, plus long side driveway for the RV, boat, or 3 additional cars. No shortage of parking!
Neighborhood Association STR Rules
Inquire
Municipality STR Rules
No restrictions documented by owner. Verification recomended
Transferrable Permit or License
Yes, Municipality Issuing New Permits
Rental Tax Info
$2.00
Minimum Nightly Rental
No Minimum
Rental Length Requirement
No Restriction
Has Rental History
Yes
Established Rental History
3 Years
Occupancy Rate
45
Being Sold with Bookings
Inquire
Caretaker Info
InquireCaretaker cannot stay and oversee the property
Bookings Placed By
Owner
Managed By
Owner
Management Bookings Percentage
Inquire
Caretaker Bookings Percentage
Inquire
Paid Booking History
Yes
Future Booking Calendar
Management Fees
Inquire
Caretaker Fees
Inquire
Sold with Marketing Collateral
Yes, AirBnb profile, Professional photos
Manager Cancellation Policy
 
  •  
Credit Card Fee
$2.00
Cleaning Fee
$150.00
Licesnes & Permits (Annual)
Inquire
Advertising & Tech Costs (Annual)
Inquire
Yard & Pest Control (Annual)
$2,280.00
Pool & Spa Maintinence (Annual)
Inquire
Electricity (Annual)
$1,320.00
Water/Sewer (Annual)
$600.00
Cable/Interbet (Annual)
$3,600.00
Accounting Fee (Annual)
$500.00
Property Taxes (Annual)
$4,900.00
Homeowner's Insurance (Annual)
$1,200.00
Short Term Rental Insurance Rider (Annual)
Inquire
CDD Fee (Annual)
Inquire
Annual Homeowner's Association Dues
Inquire
Additional Membership Fees (Annual)
Inquire
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