11012 Stark StPortland, OR 97216

This exceptional 13-unit apartment building, known as Gables on Stark, presents a compelling investment opportunity in Portland, Oregon. Built in 2008, this Class B multifamily property boasts 17,524 square feet situated on a 0.4-acre lot (APN: 1S2E03BA 6900). Each of the 13 units offers substantial living space at 1,348 square feet, featuring two bedrooms, two and a half bathrooms, and an attached garage. The units are well-appointed with full kitchens including hard surface counters, wood-look flooring and carpeting, private decks, and washer/dryer hookups. Heating is provided by efficient forced-air furnaces. The property's strong financial performance is highlighted by a current NOI of $200,446, resulting in a 5.50% cap rate and a pro-forma cap rate of 6.17%. The asking price is $3,250,000, translating to $250,000 per unit and $185 per square foot. Located at 11012 SE Stark St, Portland, OR 97216, this property benefits from a highly convenient location, less than half a mile from I-205 and within walking distance of major employers like Home Depot and Target, as well as numerous national retailers and restaurants. The proximity to three city parks, including the 7.7-acre Floyd Light City Park, adds to the property's appeal. Current rents are below market, offering significant potential for increased revenue. The energy-efficient construction, including vinyl windows, further enhances the investment value. This property represents a rare opportunity to acquire a well-located, newer construction multifamily asset with substantial upside potential.