1100 N Davis St - Apartments FOR SALE


Cornelius, OR 97113
$7,900,000 USD
503-702-6362
1100 N Davis St, Cornelius, OR for Sale
$7,900,000 USD
Apartments - FOR SALE
1/25
null | 6.38% Cap Rate

1100 N Davis St
Cornelius, OR 97113


HIGHLIGHTS

  • Delivered 100% Occupied
  • Desirable 2-bedroom Floor Plans
  • Walking Distance to Local Schools & Parks
  • Attractive Submarket with Minimal New Supply
  • Affordable Alternative to Portland Metro Core

OVERVIEW

The Mogharebi Group is pleased to present the opportunity to acquire Davis Street Apartments, a 46-unit garden-style apartment community located at 1100 North Davis Street in Cornelius, Oregon. This Class B asset benefits from a consistent unit mix of two-bedroom floorplans, each approximately 750 square feet in size. The property offers a range of amenities designed to enhance resident satisfaction, including large windows that allow ample natural light, spacious bathrooms, electric ranges, and carpeting. Community features comprise a picnic area, basketball court, courtyard, laundry facilities, BBQ grill, on-site parking, and 24-hour maintenance services. Strategically situated in Cornelius, the property is within walking distance to downtown, offering residents easy access to coffee shops, boutiques, and the library. The location boasts a Walk Score of 58, indicating that some errands can be accomplished on foot, and a Bike Score of 74, reflecting very bikeable conditions. Proximity to public transportation is another advantage, with multiple bus stops located within 0.3 miles, facilitating convenient commutes to surrounding areas. The area is experiencing growth, with ongoing infrastructure improvements enhancing its appeal to potential tenants. Given its desirable unit mix, comprehensive amenities, and prime location, Davis Street Apartments represents a compelling investment opportunity with strong potential for tenant retention and value appreciation.

FOR SALE DETAILS

PRICE

$7,900,000 USD

PRICE/SF

$203 USD /SF

# OF UNITS

46

PRICE/UNIT

$171,739

CAP RATE

6.38%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Davis Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2004

PARKING SPACES

73

LAND DETAILS

LAND ACRES

2.28 AC

LAND SF

99,317 SF

ZONING

A2, Cornelius

APN/PARCEL ID

R0752732,R0752750,R2125136

ASK ABOUT THIS PROPERTY

Jim GiblinThe Mogharebi GroupMore Info
503-702-6362

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Jim GiblinThe Mogharebi GroupMore Info
503-702-6362

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