Available For Sale - Multifamily

9,240 SF | Show Pricing $

Multifamily Space in Portland for sale

LISTED BY

Rae Nomura MAI CCIM
SVN | Imbrie Realty, 503-575-8065

AVAILABILITY DETAILS

Size
9,240 SF
Price/SF
Show Pricing $
Listing ID
SA532759
Notes
Water Avenue Apartments is a well-maintained multifamily asset strategically located in the desirable Southwest Portland Metro. Built in 1976, this property comprises 23 units, including 22 studio apartments and one two bedroom unit. Amenities such as off-street parking, coin-operated laundry facilities, and ample storage space enhance the overall appeal, value-add potential, and functionality of the property.



Situated on the quaint neighborhood street of Water Avenue, residents benefit from excellent walkability and convenient access to major transportation routes, including I-5, facilitating easy commutes to Downtown Portland, the Southwest Waterfront, and surrounding areas. The property’s proximity to several universities, including OHSU, makes it particularly appealing to students, health care employees, and young professionals seeking housing options near their academic and professional pursuits. Moreover, the property’s proximity to the Willamette River ensures stunning views and recreational opportunities.



With a list price of $3,800,000 and a current cap rate of 5.45%, along with a pro forma cap rate of 6.84%, this investment presents a compelling opportunity to acquire a well-positioned value-add property in a prime location.
Uses
Multifamily

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Rae Nomura MAI CCIM, SVN | Imbrie Realty
BRE# 201246079