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Berna Court

Berna Court

https://www.josephbernard.net/berna-court-197
Address:
10746 NE Wygant Street, Portland, Oregon 97220
Price:
$742,000
Units:
12
Price per unit:
$61,833
Cap Rate:
7.78%
Year Built:
1942

Highlights

  • Strong Occupancy Rate Past 2 Years
  • Quality Construction, Built in 1942
  • Turnkey Property, No Apparant Deferred Maintenance
  • 26 Parking Spots for 12 Units
  • Roof, Siding, Parking Lot, & Paint Appear to be in Good Condition
  • On-Site Laundry, Machines Owned by Seller
  • Tenants Cultivate a Garden in Next-Door Lot
  • Located Near Jobs by PDX Airport/Cascade Station (>1 Mile Away)
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Berna Court

Summary

The seller of Berna Court purchased the property in July of 2004, and have the unique position of owning a family operated property management company.  The property features a solidly built 1942 construction located near I 205 and I 84 near the airport and Cascade Station.

When the sellers purchased the property in 2004, the Cascade Station job base did not yet exist, and the property was in decent shape but needed some repair work.  The sellers completed a number of repairs including all of the plumbing under the buildings, they repaved and restriped the 26 spot parking lot, replaced the old coil heaters with Cadet wall heaters, tore out old carpeting and replaced with high quality linoleum that is easy to clean.  In addition, the sellers replaced the landscaping and created a new sign for the property which sits prominently on NE Wygant Street.

The overall philosophy of the sellers has been to take “good careâ€

Highlights

  • Strong Occupancy Rate Past 2 Years
  • Quality Construction, Built in 1942
  • Turnkey Property, No Apparant Deferred Maintenance
  • 26 Parking Spots for 12 Units
  • Roof, Siding, Parking Lot, & Paint Appear to be in Good Condition
  • On-Site Laundry, Machines Owned by Seller
  • Tenants Cultivate a Garden in Next-Door Lot
  • Located Near Jobs by PDX Airport/Cascade Station (>1 Mile Away)
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Berna Court

Parkrose Heights is located off 1-84 and is near I-205. This convenient location gives it's residents easy access to the rest of the city, and downtown Portland is just a 15 minute drive away. Parkrose Heights is also home to open green spaces, includingt Knott Park; a 12 acre park offering the community softball and soccer fields, pathed walking areas and picnic tables. According the 2000 Census approximately 6,093 people reside in the Parkrose Heights community, with approximately 38% being renters and 62% home owners.

According  to the 2000 Census approximately 2,575 people reside in the Glenfair community, with approximately 72% being renters and 28% home owners.  Portland is the largest city in Oregon, and the fourth largest city on the west coast.  The Portland Metro Area is home to nearly 2 million people, and sits approximately 78 miles from the ocean and 65 miles from the Cascade Mountains.  In 2008 Money Magazine named Portland one of the "Top 10  Places to Live".  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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Berna Court

Weidler East
10615 NE Weidler Street, Portland , Oregon, 97220
josephbernard
Price: $895,000 Units: 12 Price per Unit: $74,583 Cap Rate: 6.14%
6901-6923 NE Prescott Street
6901-6923 NE Prescott Street, Portland, Oregon, 97218
josephbernard
Price: $597,744 Units: 14 Price per Unit: $42,696 Cap Rate: 0.00%
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Berna Court

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Berna Court

Document Title Document Type
Property Flyer Adobe PDF
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Berna Court

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