Investment Real Estate - Portland, Oregon - Property Detail

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Goodrick Spencer Apartments

https://www.josephbernard.net/Goodrick-Spencer-Apartments

Address:: 608-624 NE 87th Ave, Portland, Oregon 97220

Price:: $3,750,000

Units:: 23

Price per unit:: $163,043

Cap Rate:: 6.99%

Year Built:: 2003

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Goodrick Spencer Apartments

Summary

Great Montavilla location, adjacent to Bible College. 2003 year built property features spacious 2 bd/1 ba units, with immaculate laundry room and off-street parking. Very well maintained, vinyl windows, has been utilized for Bible College students (all rental leases expire on 5/31/2017). Seller prefers to sell in conjunction with adjacent 52 unit property. Marketing pro forma contains only market rents due to seller providing below market rents to tenants, all financials available with accepted offers.