For Sale
$1,000,000

16927 Glisan StPortland, OR 97230

Portland Multifamily Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
97
This stabilized, six-unit apartment building in Portland, Oregon, presents a compelling investment opportunity. Located at 16927 NE Glisan St, 97230, this Class C property boasts 6,384 square feet across three buildings on a 0.64-acre lot. Built in 1978, the property currently enjoys 100% occupancy, generating a Net Operating Income (NOI) of $59,730, resulting in a 5.97% cap rate. A pro-forma NOI of $68,650 projects a 6.86% cap rate. The property includes nine parking spaces, a significant amenity for tenants. Each of the six units is priced at $166,667, contributing to the overall asking price of $1,000,000. The property's garden-style design and serene setting create an attractive living environment, enhancing its appeal to renters and promising strong returns for investors. The property's strong occupancy and potential for increased NOI make it an attractive addition to any investment portfolio. This is a rare opportunity to acquire a well-maintained multifamily property in a desirable Portland location.

Highlights

  • Six-unit apartment building in Portland, OR, at 16927 NE Glisan St, 97230.
  • 6,384 square feet on a 0.64-acre lot; Class C property built in 1978.
  • Currently 100% occupied, generating a $59,730 NOI and 5.97% cap rate; pro-forma NOI of $68,650 projects a 6.86% cap rate.
  • Nine parking spaces.
  • Asking price: $1,000,000 ($166,667 per unit).

Property Details for 16927 Glisan St

Property type
Multifamily properties, Apartment buildings
Square Feet
6,384 SF
Class
C
Year Built
1978
Buildings
3
Lot Size (sq. ft)
27,878 SF
Units
6

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.526388479769
Longitude
-122.48830966735
16927 Glisan St, Portland, Oregon

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16927 Glisan St
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