The Ivy Terrace Apartments represents a unique value-add asset, in the highly sought after neighborhood of SW Portland (Washington County). The community has been meticulously maintained with a variety of exterior improvements in recent years, along with higher end interior renovation of select units (10 out of 28) – providing a proof of concept for an investor to step in and finish out the modernization of the interiors organically over time. Additional operational efficiencies can be improved, providing a significant value-add opportunity for new ownership. The community features a low-density courtyard setting, spread out amongst four-plex style apartment buildings - providing a unique housing option in the market. The large site (1.41 acres) provides additional opportunities for a new owner to bring their own vision and add tenant friendly amenities (Dog Park, BBQ/Picnic tables, etc.). The surrounding area near Ivy Terrace benefits from strong renter demand and has experienced more stable operations and low vacancy in recent years compared to other sub-markets (2br/1ba floor plans reported at a vacancy rate of 4.7% for Tigard/SW Portland). In addition to the stable nature of this sub-market, the strong single-family sales market in the area (median listing price of $629,000 for zip code 97223 as of December 2024) provides a significant renter pool that will remain renting in the market, which in turn provides an investor with stability & additional runway to increase rents in the coming years. The Ivy Terrace Apartments offer a truly unique opportunity to acquire a value-add apartment community in the Washington County sub-market, with the rare mix of suburban living, and modern conveniences. The renovation model has been set in motion over the past few years and allows a new owner to come in with a proven and efficient system for revenue growth. An offering that provides a safety net in the stable Washington County apartment market, and the ability to acquire a legacy asset for years to come.