Investment Real Estate - Tigard, Oregon - Property Detail

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Greenburg Townhomes

https://www.josephbernard.net/greenburg-townhomes

Address:: 11445 SW Greenburg Rd, Tigard, Oregon 97223

Price:: $1,280,000

Units:: 8

Price per unit:: $160,000

Cap Rate:: 4.84%

Year Built:: 1967

Highlights

Spacious townhome style units
Large lot with green space
Historically low vacancy
Located 1 mile from Washington Square Mall and many other amenities in the Tigard and SW Portland market
Rare chance to purchase a small apartment community in Tigard
Opportunity for Buyer to increase rents and reposition the property
Centrally located with easy access to 217 & 99W

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Greenburg Townhomes

Summary

The Greenburg Townhomes are located in the strong sub-market of Tigard, Oregon and are comprised of 8 large townhome style units. Each apartment features 2 bedrooms and 1.5 baths, with spacious floor plans. Tenants benefit from a unique over sized lot of nearly half an acre, with ample usable green space. The property has been well maintained, and has experienced low historical vacancy. A buyer benefits from a stabilized asset, with the immediate ability to raise rents moving forward. (Multi-Family NW reports an average rent per sq. foot of $1.49 in the Tigard sub-market in 2018, along with an average vacancy rate of 3.36% for 2BR townhomes).

Highlights

Spacious townhome style units
Large lot with green space
Historically low vacancy
Located 1 mile from Washington Square Mall and many other amenities in the Tigard and SW Portland market
Rare chance to purchase a small apartment community in Tigard
Opportunity for Buyer to increase rents and reposition the property
Centrally located with easy access to 217 & 99W

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