Investment Real Estate - Portland, Oregon - Property Detail

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Southwest Condor Apartments

https://www.josephbernard.net/southwest-condor-apartments

Address:: 4620-4630 SW Condor Ave, Portland, Oregon 97239

Price:: $1,592,350

Units:: 6

Price per unit:: $265,392

Cap Rate:: 4.25%

Year Built:: 1966

Highlights

Great location, near OHSU
Room to increase rents
Seller owned for about 40 years
Newly installed separate water lines to each unit
Major exterior upgrades including plumbing, a retaining wall, fencing
Upgraded interiors
Shared laundry on-site
On-site parking
Balcony for 4 units
Security system for each unit; security cameras (ethernet enabled)

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Southwest Condor Apartments

Summary

Well located just off SW Barbur Blvd near OHSU. The Southwest Condor Apartments are comprised of six large units and present an investor with a unique opportunity to benefit from high tenant demand and close proximity to transit and employment opportunities of the inner SW urban location. The units all have two bedrooms and four of them have decks and backyard views of a beautifully landscaped garden terrace. Owned for about 40 years, the property has seen consistent care from the ownership and has benefited from significant upgrades. Central location and unique aesthetic will endow the property to SW Portland’s continued growth.