1020 183Rd AvePortland, OR 97230

For Sale
$5,675,000

28-Unit Multifamily Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
96
This exceptional 28-unit apartment building in Gresham, Oregon presents a compelling investment opportunity. Located at 1020 NE 183rd Ave, this 30,520 square foot property sits on a 2.44-acre lot and boasts a 5.47% cap rate. Built in 1995, the complex comprises fourteen two-story buildings, offering spacious two-bedroom, two-and-a-half-bathroom units. Each unit features an attached garage with direct access, a fully equipped kitchen with dishwasher and garbage disposal, a breakfast nook, a utility room with washer/dryer hookups, ample closet space, a wood-burning fireplace, and a private backyard patio. Residents enjoy central heating and off-street parking. The property's prime location in north Gresham provides easy access to major employers like Boeing, Albertsons Distribution, Amazon, and Subaru, as well as significant retail options, schools, and parks. Its proximity to I-84 ensures convenient connectivity to the greater Portland metro area. The asking price is $5,675,000, representing $202,679 per unit and $186 per square foot. Average rent per unit is $1,090. This well-maintained property offers a strong potential for both immediate and long-term returns. The combination of desirable amenities, convenient location, and strong rental income makes this a truly attractive investment.

Highlights

  • 28-unit apartment building in Gresham, OR, offering a 5.47% cap rate.
  • Spacious two-bedroom, two-and-a-half-bathroom units with attached garages.
  • Each unit features a fully equipped kitchen with dishwasher and disposal, breakfast nook, utility room with washer/dryer hookups, ample closet space, wood-burning fireplace, and private backyard patio.
  • Central heating and off-street parking.
  • Prime location near major employers (Boeing, Albertsons, Amazon, Subaru) and I-84, offering easy access to Portland.

Property Details for 1020 183Rd Ave

Property type
Multifamily properties, Apartment buildings
Square Feet
30,520 SF
Year Built
1995
Buildings
14
Stories
2
Lot Size (sq. ft)
106,286 SF
Units
28

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.5302975
Longitude
-122.4748433
1020 183Rd Ave, Portland, Oregon

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1020 183Rd Ave
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