1329 14Th AvePortland, OR 97201

For Sale
$5,995,000

46-Unit Apartment Building, Downtown Portland

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional 46-unit apartment building presents a compelling investment opportunity in Portland, Oregon's vibrant Goose Hollow neighborhood. Built in 1907, the four-story Grandview Apartments boasts 26,495 square feet on a 0.19-acre lot, offering a blend of classic charm and modern convenience. The property features a mix of studio, one-, two-, and three-bedroom apartments, each equipped with high ceilings, full-sized kitchens and baths, and many with panoramic views. Residents enjoy community amenities including an elevator, storage space, controlled access, bike room, on-site laundry, and on-site management and maintenance. The building's prime location provides easy access to public transportation (TriMet Max, Streetcar, and bus lines), Providence Park, Oregon Zoo, numerous parks, and is close to Portland State University and Lincoln High School. With an asking price of $5,995,000, a cap rate of 7.01%, and an average unit rent of $576, this property offers a strong return on investment. The price per unit is $130,326, and the price per square foot is $226. The land value is assessed at $242.11 per acre. This is a rare opportunity to acquire a well-maintained, historically significant multifamily property in a highly desirable Portland location. The building's strong occupancy and convenient location make it an attractive investment for both seasoned and new investors.

Highlights

  • 46-unit apartment building in Portland, Oregon's Goose Hollow neighborhood.
  • 1907-built, four-story building with 26,495 square feet on a 0.19-acre lot.
  • Mix of studio, one-, two-, and three-bedroom apartments with high ceilings, full kitchens, and baths; many with panoramic views.
  • Amenities include elevator, storage, controlled access, bike room, on-site laundry, management, and maintenance.
  • Prime location near public transit, Providence Park, Oregon Zoo, parks, Portland State University, and Lincoln High School.
  • Asking price: $5,995,000; Cap rate: 7.01%; Avg. unit rent: $576; Price per unit: $130,326; Price per sq ft: $226.

Property Details for 1329 14Th Ave

Property type
Multifamily properties, Apartment buildings
Square Feet
26,495 SF
Year Built
1907
Stories
4
Lot Size (sq. ft)
8,276 SF
Units
46

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.5167021
Longitude
-122.6889378
1329 14Th Ave, Portland, Oregon

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1329 14Th Ave
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