Assumable loan at 3.36% interest with over 6 years of term remaining! Built in 2017, the Powell Apartments are located on SE 38th Ave & Powell Blvd. The 30 units are comprised of six two-bed/one bath units and twenty four studio units, all with modern finishes, full kitchens with hard surface counters, wood-look flooring and stainless appliances. All units feature high ceilings, washer/ dryers and select units have electric fireplaces and private patios or balconies. A community BBQ area is located outside for tenants to enjoy. The asset features a highly attractive assumable loan with a 3.36% interest rate with nearly seven years of term remaining (including 7 months left with interest-only payments) and a loan balance of approximately $4 million. Additionally, the property has a MULTE property tax abatement on the real property improvements through June of 2028. The City will give a 5-year extension when that expires. See flyer for more information Located in SE Portland, Powell Blvd is one of Portland’s major East/ West arterial streets connecting SE Portland to Gresham. Located just minutes from downtown Portland, SE 38th Ave is in the heart of this corridor. Powell is surrounded by an array of retail and dining options, including John’s Marketplace and food carts (1 block), Starbucks (1 block), Chipotle (1 block) Orange Theory Fitness (1 block) Studio One Theaters (2 blocks), and Hopworks Brewery (7 blocks). Additionally, a Safeway grocery store is two blocks away. The location has a Walk Score of 89 and a 95 Bike Score and is served by a number of bus lines. Taking advantage of the loan assumption, an investor should achieve a day one in-place equity yield of 9.71%.