110-162 NW 15th St - Apartments FOR SALE


Gresham, OR 97030- Downtown Gresham
$3,500,000 USD
503-679-9243
110-162 NW 15th St, Gresham, OR for Sale
$3,500,000 USD
Apartments - FOR SALE
1/33
null | Request Cap Rate

110-162 NW 15th St
Gresham, OR 97030
Downtown Gresham


HIGHLIGHTS

  • A+ Location Proximity to DT Gresham, transit, schools, shopping
  • Exterior Systems Updates: vinyl windows, roof replacement, additional roof ventilation, patio doors, siding
  • Interior Cosmetic Updates to 13 units: light fixtures, ceiling fan, blinds, new carpet in LR, LVT in remaining rooms
  • Refrigerator, stove, W/D hookups in every unit
  • Private patios
  • 2 dedicated parking spots per unit

OVERVIEW

Welcome to the Fran-Mar Apartments, located at the end of a quiet cul-de-sac in the heart of Gresham. This unique property offers 11 well-maintained duplex units in one of the area's most convenient locations. Each apartment is 890 square feet, with 2 bedrooms and 1 bathroom, and dedicated yard space. Spacious living rooms open onto private back patios, creating an inviting indoor-outdoor flow that tenants love. Substantial interior and exterior improvements, including the renovation of 13 units, position this asset for reduced near-term capital needs. The location is truly what sets this property apart. Residents enjoy proximity to Historic Downtown Gresham and Gresham Station with easy access to the MAX, multiple bus lines, and the new Trader Joe’s. A nearby golf course, the Gresham Farmer’s Market, and proximity to Mt. Hood offer additional recreation options. Beyond the strong fundamentals, this property presents an excellent future condo conversion opportunity—offering investors both stable cash flow today and significant upside potential tomorrow.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$140 USD /SF

# OF UNITS

22

PRICE/UNIT

$159,091

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fran-Mar Apartments - 22 Unit

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1966

PARKING SPACES

22

LAND DETAILS

LAND ACRES

1.45 AC

LAND SF

63,162 SF

ZONING

DRL2

APN/PARCEL ID

R337354

ASK ABOUT THIS PROPERTY

Hope BerakaThink Real EstateMore Info
503-679-9243

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Hope BerakaThink Real EstateMore Info
503-679-9243

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