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Allendale Apartments

Allendale Apartments

https://www.josephbernard.net/allendale-apartments2
Address:
12870 SW Allen Blvd, Beaverton, Oregon 97005
Price:
$1,750,000
Units:
10
Price per unit:
$175,000
Cap Rate:
6.02%
Year Built:
1963

Highlights

  • Located in the growing city of Beaverton, Oregon (Washington County)
  • Majority of units upgraded, providing future owner stability of operations.
  • Various capital improvements in recent years.
  • Laundry room on-site, along with a utility room – potential value add opportunity to add storage lockers, bike parking, etc. or other income generating amenity
  • Strong rental demand, with historically low vacancy. Strong 2023 & 2024 YTD collected income.
  • Central Beaverton location, set to benefit from the Allen Blvd. District Plan - Allen Blvd. District Plan
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Allendale Apartments

Summary

The Allendale Apartments are located within the strong sub-market of Beaverton, Oregon (Washington County), and provide a stable and affordable housing option within a growing sub-market.  The city of Beaverton population currently sits at approximately 100,000, and offers residents access to many major employers within Beaverton & other neighboring Washington County suburbs, while also providing access to the city of Portland less than 10 miles away. The specific location of the Allendale Apartments is set to benefit from the Allen Blvd. District Plan, which focuses on a roughly one quarter mile stretch of Allen Blvd. between Hwy. 217 & Murray Blvd, and provides a focus on enhancing the livability & businesses in the surrounding area - https://content.civicplus.com/api/assets/ed4343b9-4e6c-460e-843e-45da2a73db69

The Allendale Apartments consist of (4) 1 bedroom/1 bath units and six (6) 2 bedroom/1 bath units, providing tenants with spacious & functional living spaces.  The community has on-site coin-op laundry, off-street parking, and has the potential for a future owner to add storage lockers for the community.  The complex has a combination of newer & long-term tenants, with the majority of units being updated in recent years.   Major capital improvements to the complex include New roofing (2018), New parking lot (2018/19), New exterior paint (2021), New perimeter fencing (2023), New Insulation/Vapor Barrier (2023), and unit upgrades (2018-2024).   

Rare opportunity to acquire a small Washington County apartment community, in the path of progress in Beaverton.

Highlights

  • Located in the growing city of Beaverton, Oregon (Washington County)
  • Majority of units upgraded, providing future owner stability of operations.
  • Various capital improvements in recent years.
  • Laundry room on-site, along with a utility room – potential value add opportunity to add storage lockers, bike parking, etc. or other income generating amenity
  • Strong rental demand, with historically low vacancy. Strong 2023 & 2024 YTD collected income.
  • Central Beaverton location, set to benefit from the Allen Blvd. District Plan - Allen Blvd. District Plan

Allendale Apartments

SW Allen Blvd/SW 130th Ave

Allendale Apartments

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Allendale Apartments

Document Title Document Type
Property Flyer Adobe PDF

Allendale Apartments

Phillip Barry
pbarry@josephbernard.net
Joseph Bernard, LLC
5 Centerpointe Drive, Suite 400
Lake Oswego, OR 97035
503.546.9390 Main
866.546.9390 Toll Free
877.631.5610 Fax