475 NE 74th Ave - Apartments FOR SALE


Portland, OR 97213- Gateway
$3,150,000 USD
503-200-2022
475 NE 74th Ave, Portland, OR for Sale
$3,150,000 USD
Apartments - FOR SALE
1/12
null | 5.78% Cap Rate

475 NE 74th Ave
Portland, OR 97213
Gateway


HIGHLIGHTS

  • Spacious and High Quality Units with High Ceilings and Modern Windows
  • Kitchens Featuring Stainless Steel Appliances
  • High Walk and Bike Score in Desirable NE Portland Neighborhood

OVERVIEW

Mt. Tabor Villas, located in Portland’s Roseway neighborhood, offers an opportunity to acquire a newly-constructed asset in the midst of a growing, dynamic market. The three-story apartment complex is comprised of an appealing unit mix, inclusive of predominantly two-bedroom floorplans, in keeping with population trends. Each unit is equipped with high-end finishes, including in-unit washer/dryers, custom cabinets, wood shelving, stainless steel appliances, high ceilings, and modern windows. The property is situated between the amenity-rich neighborhoods of Montavilla and North Tabor in Northeast Portland. The location boasts a Walk Score of 86 and a Bike Score of 97, deemed “Very Walkable” and a “Biker’s Paradise”. Current rents at Mt. Tabor Villas are just over 12% below market, offering an immediate opportunity to continue to grow revenue as the neighborhood continues to attract a strong tenant base. New construction in the immediate area offers a broad range of housing options to appeal to a multi-faceted prospective tenant base, further underscoring the continuous growth in the submarket.

FOR SALE DETAILS

PRICE

$3,150,000 USD

PRICE/SF

$308 USD /SF

# OF UNITS

12

PRICE/UNIT

$262,500

CAP RATE

5.78%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mt Tabor Villas

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2020

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

CSB

APN/PARCEL ID

R222338

ASK ABOUT THIS PROPERTY

Whitney RhoadesMarcus & MillichapMore Info
503-200-2022

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Whitney RhoadesMarcus & MillichapMore Info
503-200-2022

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.