1129 SW Gaines St - Apartments FOR SALE


Portland, OR 97239- Homestead-Council Crest
$2,400,000 USD
503-702-4218
1129 SW Gaines St, Portland, OR for Sale
$2,400,000 USD
Apartments - FOR SALE
1/21
null | 4.5% Cap Rate

1129 SW Gaines St
Portland, OR 97239
Homestead-Council Crest


HIGHLIGHTS

  • OHSU Pill Hill Location
  • 1999 Construction
  • Two Bedroom Units
  • Carport Off-Street Parking-8 Tandem
  • Marquam Walking Trails
  • Large Storage Units

OVERVIEW

Introducing the Marquam Trail 8-Plex Apartments located at 1129 SW Gaines Street, Portland, OR 97239. This charming property boasts 1999 construction with a new 2023 roof by Interstate Roofing, ensuring durability and protection for years to come. Each of the eight 2-bedroom, one-bath units features an in-unit full-size washer and dryer, air conditioning/heat pump, and a private patio or balcony, offering modern convenience and comfort to residents. Unique amenities include controlled access to the common area unit entry, 8 carports with extra tandem off-street parking space, a rare find in the OHSU Pill Hill area. Residents also enjoy large lockable storage units in front of each carport. An Owner/Manager may enjoy the dedicated Maintenance-Work Room. Don't miss this opportunity on pill hill by OHSU Marquam Campus, with all the jobs and medical students. The Marquam Trails 8-Plex is nestled in a prime location, offering a front-row seat to Portland's largest employer, OHSU.OHSU has established itself as Portland's largest employer and as a statewide economic powerhouse. OHSU operations generate, directly and indirectly, $7.2 billion a year in total gross economic output in Oregon. OHSU's total economic impact grew 196% percent from 2007 to 2019. OHSU supports 42,639 jobs, both at OHSU and in the community. With a significant economic impact and over 42,000 jobs at OHSU, this area is a hub of growth and opportunity. Located in the sought-after Homestead neighborhood on Marquam Hill, by OHSU's medical school and two renowned hospitals, the Oregon Health & Science University Hospital and Doernbecher Children's Hospital. Additionally, a third hospital is connected from OHSU by a skybridge to the Portland Veterans Affairs Medical Center hospital that has approximately 656 employees as of January 2024 . Don't miss out on the chance to own a piece of this thriving area with immense potential. Whether you're looking to expand your investment portfolio or capitalize on the growing demand for housing near OHSU, the Marquam Trail 8-Plex presents a lucrative opportunity.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$283 USD /SF

# OF UNITS

8

PRICE/UNIT

$300,000

CAP RATE

4.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Marquam Trail Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1999

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,500 SF

ZONING

R1

APN/PARCEL ID

R247178

ASK ABOUT THIS PROPERTY

John KennedyPacific Real Estate Investments, LLCMore Info
503-702-4218

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John KennedyPacific Real Estate Investments, LLCMore Info
503-702-4218

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