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Greeley Apartments PDX 5880 N Greeley Ave

14 Unit Apartment Building $3,300,000 ($235,714/Unit) 5.01% Cap Rate Portland, OR 97217

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Investment Highlights

New-Construction Apartment Building in North Portland
Modern Finishes, Quartz Countertops, Mini Split Air, In-Unit W/D, Private Balcony or Patio
Convenient to Adidas HQ, Legacy Emanuel, University of Portland

14 Market-Rate Units (Studio and 1 Bedroom) - 100% Leased
Bike Score of 97 and Less than 1 Mile to MAX Light Rail Station

Executive Summary

New-Construction Apartment Building in North Portland
14 Market-Rate Units • 100% Leased • Near Adidas HQ
--------------------
Sale Price: $3,300,000 ($235,714 / Unit)
Proforma NOI: $165,436
Proforma CAP: 5.01%
Units: 14 Market-Rate Units
Leaseup: 100% Leased
Construction Date: 2023
Building Gross Area: 7,249 SF
Building Rentable Area: 5,944 SF
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Property Features:
• New-Construction Multifamily Investment in North Portland
• 14 Market-Rate Units with Studio & 1 Bedroom Unit Mix
• 5,944 Rentable SF, Currently 100% Leased
• Modern Finishes, Mini Split Air, Quartz Countertops, Private Patios / Balconies, In-Unit W/D
• Landlord not currently charging RUBS to Tenants
--------------------
Location Features:
• Located in the Overlook Neighborhood of North Portland
• Walkable Area less than One Mile to MAX Light Rail Yellow Line Station
• Convenient to Adidas HQ, Legacy Emanuel, University of Portland and St Johns
• Bike Score of 97 - "Biker's Paradise"

Greeley Apartments PDX flyer

Property Facts

Price	$3,300,000	Apartment Style	Low Rise
Price Per Unit	$235,714	Building Class	B
Sale Type	Investment	Lot Size	0.11 AC
Cap Rate	5.01%	Building Size	7,249 SF
No. Units	14	Average Occupancy	100%
Property Type	Multifamily	No. Stories	3
Property Subtype	Apartment	Year Built	2023

Price	$3,300,000
Price Per Unit	$235,714
Sale Type	Investment
Cap Rate	5.01%
No. Units	14
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	B
Lot Size	0.11 AC
Building Size	7,249 SF
Average Occupancy	100%
No. Stories	3
Year Built	2023