Summary

The Washington Street 8 unit apartments provide a unique opportunity to acquire an inner-east side, vintage apartment complex with immediate value add potential. The property was built in 1912, and features studio and one-bedroom floor plans, along with a large unfinished basement (2,604 sq. feet), and attic space (864 sq. feet), providing the potential for the creation of additional amenities and income streams.  The property has been owner-operated for 20+ years, and presents an opportunity for an investor to increase the efficiency of the management/operations and increase the rents immediately. Located in one of the most sought after areas in all of Portland in the Sunnyside neighborhood, the Washington street apartments is just blocks from popular restaurants, coffee shops, and bars. The prime location features a walk score of 89 and bike score of 96 making this a popular destination among young renters in the Portland market.  

*In addition to the 5,224 above grade square footage, the property features a large unfinished basement (2,604 sq. ft) and a large unfinished attic space (864 sq. ft).