6040 Belmont StPortland, OR 97215

For Sale
$15,250,000

Prime SE Portland Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional Portland investment property, located at 6040 SE Belmont St, offers a compelling blend of income generation and value-add potential. The 131,640 square foot building sits on a 3.77-acre lot encompassing two parcels. The main parcel houses a multi-tenant complex anchored by Marquis Mt. Tabor, a regional senior care provider with 30 locations, currently occupying a significant portion of the space. Additional office and creative office tenants contribute to the property's strong occupancy rate of 84.35%. The property boasts a substantial net operating income (NOI) of $640,406, translating to a 4.20% cap rate and a price per square foot of $115.85. Built in 1922, the Class B building is zoned RM1, presenting opportunities for future development or expansion. The second parcel, a separate lot across the street, offers additional development potential. This property presents a rare opportunity to acquire a well-located, income-producing asset with significant upside through lease-up, rent increases, and potential redevelopment of underutilized space. The asking price is $15,250,000. This investment is ideal for those seeking a value-add opportunity in a thriving Portland market.

Highlights

  • Investment opportunity: SE Portland senior living/office building with value-add potential.
  • 131,640 SF building anchored by Marquis Mt. Tabor, a regional senior care provider with 30 locations, representing 84.34% occupancy.
  • Strong in-place income with long-term anchor tenant and additional office tenants.
  • Value-add potential through renovations, rent increases, and conversion of underutilized space.
  • 3.77 acres across two parcels: main building and a separate developable parcel zoned RM1.

Property Details for 6040 Belmont St

Property type
Retirement homes, Multifamily properties
Square Feet
131,640 SF
Class
B
Year Built
1922
Lot Size (sq. ft)
164,221 SF

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.51675221
Longitude
-122.60143566
6040 Belmont St, Portland, Oregon

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6040 Belmont St
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