Summary

The 27th Ave. Terrace Apartments represents a unique value-add opportunity in the Buckman neighborhood of inner Southeast Portland. The property is comprised of 10 units and features 1-bedroom & 2-bedroom floor plans, and off-street parking. The current rents in place trail the market by approximately 15 to 20%, allowing a new owner significant runway to increase revenue in a sub-market that has a proven model of past success for this product type.

While there remains significant value-add opportunity to be captured through renovations & management, the current ownership has operated the property consistently and has completed some recent capital improvements. Recent improvements include a new roof (2024), and extensive turnover work (4 units in 2024).

The Buckman neighborhood of SE Portland provides a vibrant and walkable setting for residents, nearby to an abundance of amenities (coffee shops, restaurants, parks, etc.). The inner SE Portland rental market has been historically characterized by high renter demand, resulting in low-vacancy and strong rent growth.