Mt Tabor Villas | 475 NE 74th Ave
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Mt Tabor Villas 475 NE 74th Ave
12 Unit Apartment Building $3,300,000 ($275,000/Unit) 5.52% Cap Rate Portland, OR 97213
Investment Highlights
- Spacious and High Quality Units with High Ceilings and Modern Windows
- High Walk and Bike Score in Desirable NE Portland Neighborhood
- Kitchens Featuring Stainless Steel Appliances
Executive Summary
Mt. Tabor Villas, located in Portland’s Roseway neighborhood, offers an opportunity to acquire a newly-constructed asset in the midst
of a growing, dynamic market.
The three-story apartment complex is comprised of an appealing unit mix, inclusive of predominantly two-bedroom floorplans, in
keeping with population trends. Each unit is equipped with high-end finishes, including in-unit washer/dryers, custom cabinets, wood
shelving, stainless steel appliances, high ceilings, and modern windows. The property is situated between the amenity-rich neighborhoods
of Montavilla and North Tabor in Northeast Portland. The location boasts a Walk Score of 86 and a Bike Score of 97, deemed
“Very Walkable” and a “Biker’s Paradise”.
Current rents at Mt. Tabor Villas are just over 12% below market, offering an immediate opportunity to continue to grow revenue as
the neighborhood continues to attract a strong tenant base. New construction in the immediate area offers a broad range of housing
options to appeal to a multi-faceted prospective tenant base, further underscoring the continuous growth in the submarket.
of a growing, dynamic market.
The three-story apartment complex is comprised of an appealing unit mix, inclusive of predominantly two-bedroom floorplans, in
keeping with population trends. Each unit is equipped with high-end finishes, including in-unit washer/dryers, custom cabinets, wood
shelving, stainless steel appliances, high ceilings, and modern windows. The property is situated between the amenity-rich neighborhoods
of Montavilla and North Tabor in Northeast Portland. The location boasts a Walk Score of 86 and a Bike Score of 97, deemed
“Very Walkable” and a “Biker’s Paradise”.
Current rents at Mt. Tabor Villas are just over 12% below market, offering an immediate opportunity to continue to grow revenue as
the neighborhood continues to attract a strong tenant base. New construction in the immediate area offers a broad range of housing
options to appeal to a multi-faceted prospective tenant base, further underscoring the continuous growth in the submarket.
Property Facts
| Price | $3,300,000 | Property Subtype | Apartment |
| Price Per Unit | $275,000 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 5.52% | Building Size | 10,211 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2020 |
| Price | $3,300,000 |
| Price Per Unit | $275,000 |
| Sale Type | Investment |
| Cap Rate | 5.52% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Building Size | 10,211 SF |
| No. Stories | 3 |
| Year Built | 2020 |
Unit Amenities
- Washer/Dryer
- Kitchen
- Stainless Steel Appliances
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 10 | - | - |
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Walk Score ®
Very Walkable (84)
Bike Score ®
Biker's Paradise (97)
PROPERTY TAXES
| Parcel Number | R222338 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $811,500 |
PROPERTY TAXES
Parcel Number
R222338
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$811,500
zoning
| Zoning Code | CSB |
| CSB |
-
Whitney Rhoades -
Donaven Santana -
Marcus & Millichap
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Mt Tabor Villas | 475 NE 74th Ave
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