134 160Th AvePortland, OR 97233

For Sale
$4,500,000

30-Unit Apartment Building, Excellent ROI

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents Concord Village Apartments, a 30-unit multifamily property situated on a 0.86-acre lot in Portland, Oregon's desirable Multnomah County (zip code 97233). Built in 1996, this two-story, two-building complex boasts a total of 22,920 square feet. The property features a mix of spacious one, two, and three-bedroom apartments, each equipped with modern amenities including fully-equipped kitchens featuring stainless steel appliances, hardwood-style flooring, in-unit washers and dryers, and private patios or balconies. Residents enjoy the convenience of ample off-street parking and a pet-friendly environment. The average unit rent is $764, generating a strong 5.05% cap rate on the $4,500,000 asking price ($150,000 per unit, $224 per square foot). Concord Village benefits from its strategic location near major retailers and dining at 205 Place and Gresham Station, and enjoys proximity to significant employers such as Boeing, Albertsons, Amazon, FedEx, and Subaru. Excellent public transportation access via TriMet MAX Light Rail and multiple bus lines ensures easy commuting throughout the Portland metro area. This well-maintained property offers a compelling combination of strong rental income, desirable location, and significant upside potential for a savvy investor. The address is 134 SE 160th Ave, Portland, OR 97233.

Highlights

  • $4,500,000 asking price for a 30-unit apartment building.
  • Multifamily property with 22,920 square feet, offering a price per square foot of $224.
  • 5.05% cap rate with an average unit rent of $764.
  • 30 units at $150,000 per unit.
  • Built in 1996, the property consists of two, two-story buildings on a 0.86-acre lot in Portland, Oregon.

Property Details for 134 160Th Ave

Property type
Multifamily properties, Apartment buildings
Square Feet
22,920 SF
Year Built
1996
Buildings
2
Stories
2
Lot Size (sq. ft)
37,462 SF
Units
30

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.5212021
Longitude
-122.4987438
134 160Th Ave, Portland, Oregon

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134 160Th Ave
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