232 NE 61st Ave
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232 NE 61st Ave
15 Unit Apartment Building $3,999,900 ($266,660/Unit) 5.45% Cap Rate Portland, OR 97213
Investment Highlights
- FULLY LEASED + STABLIZIED
- QUALITY FINISH
- NEW CONSTRUCTION
- POPULAR TABOR LOCATION!
Executive Summary
Bolster your investment portfolio with this phenomenal opportunity to own an exquisite, FULLY LEASED + STABILIZED, new construction 15-unit apartment complex from a quality local builder. Nestled in NEs hotspot of North Tabor this location will have everything you need at your doorstep! High-end, modern finishes grace each space of these expertly crafted units which feature tall ceilings + an open concept floor plan bringing an abundance of natural light with designer tones! With a mix of 1 be + 2 bed units further diversifying your investment portfolio. Custom cabinetry, desirable stainless-steel appliances + stackable W/D finish out the interior! Indoor bike storage + enclosed trash area round out a few other notable items plus 1-year builder warranty with peace of mind + 15-year new construction rent-control exemption!
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$277,065
|
$22.64
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$59,072
|
$4.83
|
| Net Operating Income |
$217,993
|
$17.81
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $277,065 |
| Annual Per SF | $22.64 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $59,072 |
| Annual Per SF | $4.83 |
| Net Operating Income | |
|---|---|
| Annual | $217,993 |
| Annual Per SF | $17.81 |
Property Facts
| Price | $3,999,900 | Property Subtype | Apartment |
| Price Per Unit | $266,660 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 5.45% | Building Size | 12,240 SF |
| No. Units | 15 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2024 |
| Price | $3,999,900 |
| Price Per Unit | $266,660 |
| Sale Type | Investment |
| Cap Rate | 5.45% |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 12,240 SF |
| No. Stories | 3 |
| Year Built | 2024 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,345 | 419 - 500 |
| 2+1 | 9 | $1,688 | 536 - 692 |
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Walk Score ®
Very Walkable (79)
Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | R230713 | Improvements Assessment | $0 |
| Land Assessment | $98,710 | Total Assessment | $98,710 |
PROPERTY TAXES
Parcel Number
R230713
Land Assessment
$98,710
Improvements Assessment
$0
Total Assessment
$98,710
zoning
| Zoning Code | R2 (Residential) |
| R2 (Residential) |
-
Darryl Bodle II -
Kelly Christian -
Keller Williams Realty, Portland Premiere
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232 NE 61st Ave
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