Investment Real Estate - Portland, Oregon - Property Detail

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The Rosewood

https://www.josephbernard.net/rosewood

Address:: 16055 SE Stark Street, Portland, Oregon 97233

Price:: $2,679,000

Units:: 47

Price per unit:: $57,000

Cap Rate:: 6.62%

Year Built:: 1965

Highlights

Great Visibility
Quiet Community
Garages
Off Street Parking

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The Rosewood

Summary

This complex has 47 units total and is located in the Rockwood neighborhood, right on the border of Portland and Gresham. 25 of the units were built in 1965 and an additional 22 units were built in 1996. Off street parking and garages highlight a quiet community with great street visibility on SE Stark Street.

Highlights

Great Visibility
Quiet Community
Garages
Off Street Parking

Sold

The Rosewood

The Rosewood Apartments are located in the Rockwood neighborhood of Portland / Gresham, Oregon. Rockwood has been named the "Gateway to Gresham". It straddles the MAX Light Rail line and forms the primary western approach to the city.

In 2003, as a result of public desire for change, Gresham residents voted to designate Rockwood as an Urban Renewal Area for a 20 year period. New construction is set to a two story minimum, and has to have a mix of uses. New buildings are to embrace the light rail and orient their faces towards transit.

All of this is intended to provide quality jobs and commercial and housing opportunities for its residents, while reinforcing walking and community engagement.

In 2008 Money Magazine named Portland one of the "Top 10 Places to Live". Portland is also well known for its strong land-use planning and investment into public transportation.

Some of the larger Portland employers include Nike, Columbia Sportswear, Tektronix, Precision Castparts Corp, and Mentor Graphics Corp.