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SE 119th Avenue Townhomes

SE 119th Avenue Townhomes

https://www.josephbernard.net/119th
Address:
5601-5631 SE 119th Avenue , Portland, Oregon 97266
Price:
$1,988,800
Units:
16
Price per unit:
$124,300
Cap Rate:
6.30%
Year Built:
2008

Highlights

  • Rental Upside
  • Duplex Sytle Buildings
  • 250 Sq. Ft. Attached Garages For All Units
  • Condo Quality Finishes
  • Large Townhouse Units
  • 2008 Construction
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SE 119th Avenue Townhomes

Summary

The SE 119th Avenue Townhomes are located in the Powellhurst-Gilbert neighborhood of SE Portland, with easy access to I-205, and surrounding public transportation.  The property was built in 2008 and features 16 condo quality townhouse style units with large attached garages.  The complex is spread out through 8 separate buildings, providing tenants with convenient duplex style living.

The investment provides a buyer with the opportunity to acquire a newer building, with condo quality finishes throughout.  The large units and strong surrounding rental market provide a buyer with immediate rental upside, and the opportunity to initiate a utility bill back system.

The occupancy in 2013 for the property was 99%, and the Portland metro apartment market continues to see signs of a strengthening apartment market and one of the lowest apartment vacancy averages in the nation.

Highlights

  • Rental Upside
  • Duplex Sytle Buildings
  • 250 Sq. Ft. Attached Garages For All Units
  • Condo Quality Finishes
  • Large Townhouse Units
  • 2008 Construction
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SE 119th Avenue Townhomes

A nice mix of residential living, while located near major roadways such as Holgate and Division for accessibility for commuting, and access to shopping and other amenities.  Neighbors enjoy family and community events in the nearby parks and community garden. (PortlandNeighborhood.com)

The Portland rental market is ranked #4 in the country in terms of apartment rent growth, according to Axiometrics, Inc., a provider of data and analysis on the multi-family housing sector. 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. 

  

 

 

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SE 119th Avenue Townhomes

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SE 119th Avenue Townhomes

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SE 119th Avenue Townhomes

Document Title Document Type
Property Flyer Adobe PDF
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SE 119th Avenue Townhomes

Joseph Bernard, LLC
5200 S Macadam Avenue
Suite 300
Portland, Oregon 97239
503.546.9390 Main
866.546.9390 Toll Free
877.631.5610 Fax