Gilbert Square Apartments 13718 SE Division St 19 Unit Apartment Building $1,799,500 ($94,711/Unit) 8.46% Cap Rate Portland, OR 97236
INVESTMENT HIGHLIGHTS
- Separately Sub-Metered
- New Roofs, Windows & Insulation
- Close to Mass Transit
EXECUTIVE SUMMARY
Cash Flow & Opportunity! The buildings are at the lower end of the spectrum, price per door is very attractive!
Price Per Unit: $105,000
Occupancy, very solid
Don't let looks deceive you. This property is always occupied and has many long term tenants with various avenues of rent support.
All but a few units have recent upgrades which include all interior surfaces. New roofs on 3 of the buildings in 2020. Windows & insulation have been upgraded. All but 1 building have been separately sub-metered giving the financials a huge opportunity moving forward.
600 Sq. Ft. Storage Unit rent: $750
Price Per Unit: $105,000
Occupancy, very solid
Don't let looks deceive you. This property is always occupied and has many long term tenants with various avenues of rent support.
All but a few units have recent upgrades which include all interior surfaces. New roofs on 3 of the buildings in 2020. Windows & insulation have been upgraded. All but 1 building have been separately sub-metered giving the financials a huge opportunity moving forward.
600 Sq. Ft. Storage Unit rent: $750
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$229,260
|
$7.11
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$229,260
|
$7.11
|
| Taxes |
$24,032
|
$0.75
|
| Operating Expenses |
$66,000
|
$2.05
|
| Total Expenses |
$90,032
|
$2.79
|
| Net Operating Income |
$139,228
|
$4.32
|
PROPERTY FACTS
UNIT AMENITIES
- Cable Ready
- Kitchen
- High Speed Internet Access
- Tub/Shower
- Double Pane Windows
- Smoke Free
- Vinyl Flooring
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 7 | $900.00 | 425 |
| 1+1 | 11 | $1,050 | 475 |
| 2+1 | 1 | $1,200 | 565 |
1 of 1
Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | R334241 | Total Assessment | $1,097,150 |
| Land Assessment | $0 | Annual Taxes | $24,032 ($0.75/SF) |
| Improvements Assessment | $0 | Tax Year | 2023 |
ZONING
| Zoning Code | SC (CM1 - Commercial mixed use RM1 - Residential multi-dwelling) |
