5109 NE Killingsworth St
19 Unit Apartment Building $4,200,000 ($221,053/Unit) 4.60% Cap Rate Portland, OR 97218
INVESTMENT HIGHLIGHTS
- Additional 18 unit can be added, shovel ready!
- All Architectural Plans completed
- Long history of high occupancy
EXECUTIVE SUMMARY
Prime Investment Opportunity in Portland, 37 Unit Potential. 19 existing units and permit ready to build 18 more.
Opportunity to own a high-performing 19-unit apartment community with significant value-add potential in Portland’s thriving rental market. 5109 NE Killingsworth Street benefits from a consistent history of high occupancy, ensuring strong and stable cash flow for investors.
This turnkey asset includes vacant land and permit-ready plans for an 18-unit expansion, allowing for immediate growth and increased rental income. Located in a high-demand rental corridor, the property is ideally positioned to capitalize on Portland’s strong housing market.
Opportunity to own a high-performing 19-unit apartment community with significant value-add potential in Portland’s thriving rental market. 5109 NE Killingsworth Street benefits from a consistent history of high occupancy, ensuring strong and stable cash flow for investors.
This turnkey asset includes vacant land and permit-ready plans for an 18-unit expansion, allowing for immediate growth and increased rental income. Located in a high-demand rental corridor, the property is ideally positioned to capitalize on Portland’s strong housing market.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $4,200,000 |
| Price Per Unit | $221,053 |
| Sale Type | Investment |
| Cap Rate | 4.60% |
| Sale Condition | 1031 Exchange |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.07 AC |
| Building Size | 15,364 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 1.3/1,000 SF |
UNIT AMENITIES
- Kitchen
- Refrigerator
- Range
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | $1,148 | 625 - 675 |
| 2+1 | 16 | $1,313 | 750 - 775 |
1 of 1
Bike Score®
Biker's Paradise (90)
PROPERTY TAXES
| Parcel Number | R194241 | Total Assessment | $788,080 (2023) |
| Land Assessment | $0 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2023) | Tax Year | 2024 |
ZONING
| Zoning Code | N/Av |
CONTACT
-
Grayson Pounder - 6105 S Macadam Ave, Portland, or 97239
