Summary

The Cascade Garden Apartments represent a unique opportunity to acquire a low-density, well cared for 10-unit apartment community in the Gresham Market. The property features an original duplex comprised of 2BR/1BA floor plans that was built in 1943 and has since been upgraded along with eight unique, 1BR/1.5BA townhome floor plans that were built in 1997. Each unit features a garage (attached or detached), washer/dryer, gas fireplace, and a backyard patio. Sitting on 0.87 acres with pristine landscape and grounds, the majority of the units are set back off of the street providing a tranquil & quiet setting. The property has been well cared for over the years, with recent upgrades including new roofing in 2020, new exterior paint, and various interior upgrades. The majority of the rents have significant proven upside, as many of the long-term tenants have remained below market rent. The most recent 1BR/1.5BA lease up in March 2022, achieved a rent of $1,325. Rare opportunity to acquire a pride of ownership property with operational value-add.