1232 Wygant StPortland, OR 97217

For Sale
$1,100,000

North Portland Multifamily Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional 5-unit apartment building presents a compelling investment opportunity in the desirable North Portland neighborhood. Built in 1943, this single-story property boasts 2,810 square feet situated on a 0.12-acre lot, offering a compelling price per square foot of $293 and a price per unit of $220,000. The property features a mix of one- and two-bedroom units, each with desirable amenities including hardwood floors, a fenced yard, private back patios, and covered bike storage. Individual entries for each unit enhance privacy and convenience. Located just minutes from Portland Community College and major transportation arteries like Interstate Avenue and I-5, the property benefits from excellent access to public transit and a wealth of retail options, including New Seasons Market. Its proximity to vibrant retail corridors like N Mississippi Ave and NE Alberta St provides residents with abundant shopping and dining choices. The TriMet MAX light rail Yellow Line is also within easy reach, further enhancing the property's accessibility. With an average unit rent of $562, this property offers a strong 6.29% cap rate and significant potential for future appreciation. The asking price is $1,100,000, representing a land value of $41.67 per acre. This is a rare opportunity to acquire a well-maintained, income-producing multifamily property in a highly sought-after Portland location.

Highlights

  • $1,100,000 asking price for a 5-unit apartment building.
  • Portland, Oregon multifamily property with 2,810 square feet.
  • 6.29% cap rate with $293 per square foot price.
  • Five units averaging $562 monthly rent each, totaling $220,000 per unit.
  • 1943-built, single-story building on a 0.12-acre lot in Multnomah County.

Property Details for 1232 Wygant St

Property type
Multifamily properties, Apartment buildings
Square Feet
2,810 SF
Year Built
1943
Stories
1
Lot Size (sq. ft)
5,227 SF
Units
5

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.5574218
Longitude
-122.6797785
1232 Wygant St, Portland, Oregon

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1232 Wygant St
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