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Manor Court

Manor Court

https://www.josephbernard.net/manor-court
Address:
13214 SE River Rd, Milwaukie, Oregon 97222
Price:
$1,746,000
Units:
15
Price per unit:
$116,400
Cap Rate:
5.00%
Year Built:
1959

Highlights

  • Strong Milwaukie location
  • Value add rehab opportunity
  • Rare low-density site, 1.47 acres
  • Duplex style units with W/D hookups
  • Select units with fireplaces
  • Opportunity to re-position the property and increase rents
  • Low vacancy sub-market (Multi-Family NW reports 3.03% vacancy for Milwaukie in 2018)
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Manor Court

Summary

VALUE ADD REHAB OPPORTUNITY

 

The Manor Court Apartments is a 15 unit apartment community located in Milwaukie, Oregon. The property features single level duplex style apartments, on a rare low-density site of 1.47 acres. The community is comprised of large 2 bedroom/1 bath floor plans with washer dryer hookups, and select units with fireplaces. The strong location and unique attributes of the property make it a prime opportunity for an extensive rehab and re-positioning of the property. The current rents range from $500 to $1300, with the current average at $924. Currently there are 3 vacant units (20%), which are in need of extensive turnover work. This opportunity is being offered in AS IS condition.

 

*Square footages reported per the property manager, Buyer to verify.

Highlights

  • Strong Milwaukie location
  • Value add rehab opportunity
  • Rare low-density site, 1.47 acres
  • Duplex style units with W/D hookups
  • Select units with fireplaces
  • Opportunity to re-position the property and increase rents
  • Low vacancy sub-market (Multi-Family NW reports 3.03% vacancy for Milwaukie in 2018)
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Manor Court

SE River Rd/SE Silver Springs Rd

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Manor Court

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Manor Court

Document Title Document Type
Property Flyer Adobe PDF
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Manor Court

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