- For Sale $10,800,000
- Property Type Multi-Family
- Property Size 139,479 SF
- Units 120
- Lot Size 0.81 Acre
- Property Tenancy Multi-Tenant
- Year Built 1998
- Date Updated Feb 7, 2024
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Attachments
Highlights
- - Approximately 20% of units are market rate, remainder on restrictions through OHCS and/or PHB
- - Loan is assumable with agency consent
- - Formerly "congregate senior housing," new owner has many other options
- - Recently updated elevator, Flood detection system installed, recent roof moss removal, gate and parking garage repairs,
- - Second Floor laundry, with recently installed card operated units
- - Adjacent to new library, close to county services, on the MAX Blue Line
- - Approximately +/-4,000 square feet for kitchen and dining room could be converted to other uses or meal services could be resumed
- - When ownership acquired in 2019, 68% occupancy. Despite Covid, occupancy now at 98%
- - Vast recent improvement to NOI after congregate (meal and cleaning) services dropped, leaving buyer with better financial position and significant rent upside.
False
Contacts
Bjorn Beer
SVN | Imbrie Realty
(541) 745-4050
Location
Getting Around
-
Walk Score ®
Very Walkable (75) -
Transit Score ®
Good Transit (56) -
Bike Score ®
Biker's Paradise (95)
- City Portland, OR
- Neighborhood Hazelwood
- Zip Code 97220
- Market Portland
Points of Interest
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East 122nd Avenue
0.16 miles
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East 102nd Avenue
0.91 miles
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Gateway/Northeast 99th Avenue Transit Center
1.24 miles
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Southeast Main Street
1.39 miles
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East 148th Avenue
1.41 miles
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Southeast Division Street
1.96 miles
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Northeast 82nd Avenue
1.96 miles
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East 162nd Avenue
2.10 miles
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Southeast Powell Boulevard
2.37 miles
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East 172nd Avenue
2.60 miles
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76
0.18 miles
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Astro
0.37 miles
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Space Age
0.59 miles
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Arco
0.61 miles
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76
0.92 miles
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Chevron
1.01 miles
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76
1.03 miles
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Blink
1.07 miles
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Arco
1.11 miles
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Shell Express
1.39 miles
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E 122nd/Menlo Park
0.23 miles
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Gateway
1.24 miles
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SE Main St
1.40 miles
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The Columba Center
1.94 miles
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Vestal Elementary Guest Parking
1.97 miles
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Walgreens parking lot
2.12 miles
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Grace Baptist Church Parking
2.17 miles
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Lot B
2.24 miles
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Lot A
2.28 miles
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Lot C
2.29 miles
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Little Caesars
0.02 miles
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Pig 'N Pancake
0.10 miles
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La Isla Bonita
0.11 miles
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Amai Teriyaki
0.11 miles
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KFC
0.13 miles
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Taco Bell
0.14 miles
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McDonald's
0.17 miles
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Clearys Restaurant and Spirts
0.26 miles
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Victorio's
0.35 miles
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Don Pedro Restaurante
0.45 miles
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Ventura Park Elementary School
0.28 miles
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Menlo Park Elementary School
0.43 miles
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Floyd Light Middle School
0.77 miles
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Saint Therese School
0.80 miles
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Christian School of Portland
0.83 miles
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East Portland Community Center
0.88 miles
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Fir Ridge Campus
0.90 miles
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David Douglas High School
0.93 miles
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Sacramento Elementary School
0.99 miles
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Mill Park Elementary School
1.02 miles
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Shannon's Child Care & Preschool
1.93 miles
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YMCA Child Care
2.42 miles
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Early Learning Center
2.81 miles
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Happy Valley Children's Garden
3.11 miles
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DiscoveryLand
3.11 miles
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Rose City Cooperative Preschool
3.30 miles
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Mt. Tabor Preschool
3.33 miles
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KinderCare
3.34 miles
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Happy Valley Children's Garden
3.42 miles
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Alameda Preschool
3.67 miles
Contact Listing Broker
Bjorn Beer
SVN | Imbrie Realty
(541) 745-4050