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The Flair Apartments

The Flair Apartments

https://www.josephbernard.net/the-flair-apartments
Address:
23134 NE Halsey Street, Wood Village, Oregon 97060
Price:
$953,000
Units:
16
Price per unit:
$59,563
Cap Rate:
6.99%
Year Built:
1974

Highlights

  • All 2 Bedroom Units
  • Located on Trimet Bus Line
  • Extensive Improvements in 2011
  • Ample Parking
  • New Hands-On Management
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The Flair Apartments

Summary

The Flair Apartments are a 16 unit community located in Wood Village, Oregon. This property features five buildings on one tax lot and is comprised of all two bedroom units. Most units are single level and have new flooring, new carpet, and replaced appliances as needed.
There is on-site laundry which provides additional annual income as well as ample parking available. The property has hands-on management and has undergone extensive capital improvements in 2011. Rent increases are in effect, with current units re-renting at $725 upon turnover.

Highlights

  • All 2 Bedroom Units
  • Located on Trimet Bus Line
  • Extensive Improvements in 2011
  • Ample Parking
  • New Hands-On Management
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The Flair Apartments

Wood Village is located 12 miles east of Portland, Oregon, and is nestled between Troutdale, Fairview and Gresham along I-84 in the Columbia River Gorge. It hosts a main road to Mt. Hood that is part of the Mt. Hood Scenic Byway Corridor.
The US Census Bureau reports that approximately 3,300 people reside in Wood Village of which about 33% rent their homes. According to the Fall 2011 MMHA Vacancy Report, Wood Village has an average vacancy rate of 4.8%.
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The Flair Apartments

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The Flair Apartments

Phillip Barry
pbarry@josephbernard.net
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