Gilbert Square Apartments | 13718 SE Division St
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Gilbert Square Apartments 13718 SE Division St
19 Unit Apartment Building $1,999,500 ($105,237/Unit) 7.61% 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 |
$23,800
|
$0.74
|
| Operating Expenses |
$66,000
|
$2.05
|
| Total Expenses |
$89,800
|
$2.79
|
| Net Operating Income |
$139,460
|
$4.33
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $229,260 |
| Annual Per SF | $7.11 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $229,260 |
| Annual Per SF | $7.11 |
| Taxes | |
|---|---|
| Annual | $23,800 |
| Annual Per SF | $0.74 |
| Operating Expenses | |
|---|---|
| Annual | $66,000 |
| Annual Per SF | $2.05 |
| Total Expenses | |
|---|---|
| Annual | $89,800 |
| Annual Per SF | $2.79 |
| Net Operating Income | |
|---|---|
| Annual | $139,460 |
| Annual Per SF | $4.33 |
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 |
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Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | R334241 | Total Assessment | $1,097,150 |
| Land Assessment | $0 | Annual Taxes | $23,800 ($0.74/SF) |
| Improvements Assessment | $0 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
R334241
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,097,150
Annual Taxes
$23,800 ($0.74/SF)
Tax Year
2023
zoning
| Zoning Code | SC (CM1 - Commercial mixed use RM1 - Residential multi-dwelling) |
| SC (CM1 - Commercial mixed use RM1 - Residential multi-dwelling) |
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Gilbert Square Apartments | 13718 SE Division St
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