Investment Real Estate - Portland, Oregon - Property Detail

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The Drake Apartments

https://www.josephbernard.net/the-drake-apartments-

Address:: 2308-2326 SW Osage St, Portland, Oregon 97205

Price:: $2,425,000

Units:: 12

Price per unit:: $202,083

Cap Rate:: 5.41%

Year Built:: 1904

Highlights

Rare Kings Hill investment opportunity
City & mountain views in select units
Value-add opportunity through continued interior renovations
Walk Score: 96 (Walker's Paradise)
Bike Score: 72 (Very Bikeable)

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The Drake Apartments

Summary

Incredible Kings Hill location with city and mountain views. The Drake Apartments is comprised of 12 units, and presents an investor with a unique opportunity to capitalize on the continued growth of the urban Portland apartment market. Units are spacious and feature period charm, various upgrades throughout, and select units with views. Parking is available on-site for select units. Irreplaceable Kings Hill location, which will continue to reap the benefits of the growing Portland market.