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)
Manor Court
SE River Rd/SE Silver Springs Rd
Manor Court
Manor Court
Document Title | Document Type |
---|---|
Property Flyer | Adobe PDF |
Manor Court
Phillip Barry
pbarry@josephbernard.net5 Centerpointe Drive, Suite 400
Lake Oswego, OR 97035
503.546.9390 Main
866.546.9390 Toll Free
877.631.5610 Fax