1020 SE 60th Ave - Apartments FOR SALE


Portland, OR 97215- Mt Tabor
$14,250,000 USD
503-218-4387
1020 SE 60th Ave, Portland, OR for Sale
$14,250,000 USD
Apartments - FOR SALE
1/19
null | 5.73% Cap Rate

1020 SE 60th Ave
Portland, OR 97215
Mt Tabor


HIGHLIGHTS

  • Fannie Mae Assumable Financing (Berkadia) - 1% Assumption Fee
  • Current Balance - $10,473,329 (March, 2026)
  • Interest Rate - 2.99% fixed through November, 2031
  • Origination Date - 11/1/21; remaining term 69 months (November, 2031)
  • Prepayment Structure - Yield Maintenance

OVERVIEW

Tabor Commons is rich in local history. It was renovated between 2017-2020 at a cost exceeding $10,000,000 but maintains its original character/charm. Originally constructed in 1928 (the east wing) and 1946 (the west wing), the interior was completely rebuilt with all new mechanical systems, plumbing, electrical, air conditioning, interior fixtures, high quality finishes and innovative design. Original materials were re-purposed and reused. The mahogany paneling in the lobby was built from woodwork original to the building. Some of the improvements include seismic upgrading with: -20,000+ steel helical ties tying the exterior brick walls from the floor to the roof -Installation of a sprinkler system throughout the building -Carbon footprint responsible green energy features (eco-friendly rating higher than LEED) -Sophisticated sound attenuation system to minimize noise and a pressurized circulating air flow system in the hallways to bring 100% fresh air into the building. -$3,000,000 was spent on the structural system alone so it is almost like a new building inside the original exterior shell, which has been beautifully preserved.

FOR SALE DETAILS

PRICE

$14,250,000 USD

PRICE/SF

$340 USD /SF

# OF UNITS

76

PRICE/UNIT

$187,500

CAP RATE

5.73%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Tabor Commons

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1928

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.6 AC

LAND SF

26,136 SF

ZONING

R5

APN/PARCEL ID

R206292

ASK ABOUT THIS PROPERTY

Benjamin MurphyCommercial Integrity NWMore Info
503-218-4387

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Benjamin MurphyCommercial Integrity NWMore Info
503-218-4387

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.