7070 N Montana Ave 6 Unit Apartment Building $2,295,000 ($382,500/Unit) 4.30% Cap Rate Portland, OR 97217
EXECUTIVE SUMMARY
Modern 6-unit investment in prime Arbor Lodge location! Close to the MAX Yellow Line and major transit routes, this rare multi-fam investment boasts high desirability for those seeking urban convenience. Built in 2019, this building boasts energy-efficient construction, luxury details and thoughtful amenities throughout. EnergyStar rated appliances, quartz and marble finishes, luxury vinyl plank flooring, washer and dryer in every unit, built-in dishwashers and microwaves, Navien tankless water heater, Daikin mini-split heat & AC, and secure front door and gate entries. Second and third floor units have attached decks while ground level units #101 and #102 offer both front patios and backyard space. One unit is ADA-compliant. Close to University of Portland, Adidas headquarters, Peninsula Park & Kenton District, New Seasons Market and more! Don't miss this chance to invest in this desirable NW Portland neighborhood.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$98,799
|
$16.47
|
PROPERTY FACTS
| Price | $2,295,000 |
| Price Per Unit | $382,500 |
| Sale Type | Investment |
| Cap Rate | 4.30% |
| Gross Rent Multiplier | 16.78 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 5,998 SF |
| No. Stories | 3 |
| Year Built | 2019 |
SITE AMENITIES
- Controlled Access
- Courtyard
- Fenced Lot
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 6 | - | 949 |
1 of 1
Walk Score®
Very Walkable (77)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | R704085 | Improvements Assessment | $0 (2023) |
| Land Assessment | $0 (2023) | Total Assessment | $745,120 (2023) |
ZONING
| Zoning Code | Multifamily |
