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Chardonnay Apartments

Chardonnay Apartments

https://www.josephbernard.net/chardonnay-2011
Address:
2162 NW Everett Street, Portland, Oregon 97210
Price:
$1,900,000
Units:
21
Price per unit:
$90,476
Cap Rate:
5.79%
Year Built:
1910

Highlights

  • Historically 100% Occupied
  • Little to No Deferred Maintenance
  • Remodeled Hallways/Misc Interior Improvements
  • Many Units with New/Re-done Hardwood Floors
  • New Plumbing & Electrical
  • Many Capital Improvements
  • Fantastic Northwest District Location
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Chardonnay Apartments

Summary

The Chardonnay Apartments are located on NW Everett Street in the Northwest District of Portland, Oregon. This property features a mix of studio and one bedroom units. Various work has been done to the interior of the units, including new or refinished hardwood floors and installation of individual water heaters.

The current owner has put forth an extensive amount of capital improvements to upgrade the building since ownership, include new plumbing, new electrical, and remodeled hallways. This property has historically low vacancy, with consistent 100% occupancy. The owner reports very low maintenance in terms of ownership and turnover.

Highlights

  • Historically 100% Occupied
  • Little to No Deferred Maintenance
  • Remodeled Hallways/Misc Interior Improvements
  • Many Units with New/Re-done Hardwood Floors
  • New Plumbing & Electrical
  • Many Capital Improvements
  • Fantastic Northwest District Location
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Chardonnay Apartments

The Chardonnay Apartments are located in one of the most historically desired communities in Portland, the Northwest District.  This district stretches from the base of the West Hills to the Willamette river, and from NW Nicolai Street to W Burnside Street.  This neighborhood features Craftsman and Old Portland-style homes and buildings, and is home to many shops and boutiques, trendy restaurants, bars, and many other local hot spots.

Chardonnay Apartments score a 92/100 for "Walkability". The Walkability Score indicates locations that have concentrations of commercial services that are within relatively short walking distance of homes. Besides taking into account the availability of grocery stores and other commercial services, it takes into account factors that impact pedestrian access, such as sidewalks, street connectivity, and topography.

With just a 5 minute drive to Downtown Portland, easy access to freeways, and an extensive public transportation system with the Portland Streetcar and TriMet Bus Line, residents literally have the entire city at their fingertips.

The Portland rental market is ranked #4 in the country in terms of apartment rent growth, according to Axiometrics, Inc., a provider of data and analysis on the multi-family housing sector. 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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Chardonnay Apartments

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Chardonnay Apartments

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Chardonnay Apartments

Document Title Document Type
Property Flyer Adobe PDF
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Chardonnay Apartments

Phillip Barry
pbarry@josephbernard.net
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