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Del Ray Apartments

Del Ray Apartments

https://www.josephbernard.net/del-ray
Address:
221 NE 162nd Avenue, Portland, Oregon 97230
Price:
$1,500,000
Units:
34
Price per unit:
$44,118
Cap Rate:
9.00%
Year Built:
1979

Highlights

  • Can Be Purchased with a 50% Interest
  • Additional Storage Space for Rent
  • Zoned for 75 Units - Front Zoned Commercial
  • New Management Stabilized
  • Located Near TriMet MAX Light Rail
  • Off-Street Parking
  • On-Site Laundry
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Del Ray Apartments

Summary

The Del Ray Apartments are a 34 unit garden-style community built in 1979. They are located just north of E Burnside Street on NE 162nd Avenue in the Greenfair Neighborhood of Portland, Oregon. The TriMET MAX Light Rail runs along E Burnside Street, giving residents easy access to Portland's extensive public transportation system.

Del Ray features a mix of both one and two bedroom units, on-site laundry, additional storage space for rent, and off-street parking. It is zoned for up to 75 multifamily units and the front is zoned commercial. Del Ray can be purchased with a 50% interest - please contact Joseph Chaplik for details at 503-546-9390.

Highlights

  • Can Be Purchased with a 50% Interest
  • Additional Storage Space for Rent
  • Zoned for 75 Units - Front Zoned Commercial
  • New Management Stabilized
  • Located Near TriMet MAX Light Rail
  • Off-Street Parking
  • On-Site Laundry
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Del Ray Apartments

The Glenfair neighborhood is located between NE Glisan Street and SE Stark Street along 148th Avenue, on the border of Portland and Gresham. Home to Glenfair Park, a 5 acre park acquired in 1989, this area enjoys open green spaces and easy access to the TriMet bus line and MAX Lightrail. 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. Recently Portland was ranked #1 in the country in terms of lowest vacancy (US Census Bureau), and #2 in rent growth (Axiometrics, Inc.)

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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Del Ray Apartments

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Del Ray Apartments

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Del Ray Apartments

Document Title Document Type
Property Flyer Adobe PDF
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Del Ray Apartments

Joseph Bernard, LLC
5200 SW Macadam Avenue
Suite 300
Portland, Oregon 97239
503.546.9390 Main
866.546.9390 Toll Free
503.546.9395 Fax