12870 SW Allen Blvd - Apartments FOR SALE


Beaverton, OR 97005- Highland Beaverton
$1,750,000 USD
503-593-9707
12870 SW Allen Blvd, Beaverton, OR for Sale
$1,750,000 USD
Apartments - FOR SALE
1/30
null | 6.02% Cap Rate

12870 SW Allen Blvd
Beaverton, OR 97005
Highland Beaverton


HIGHLIGHTS

  • Located in the growing city of Beaverton, Oregon (Washington County)
  • Majority of units upgraded, providing future owner stability of operations.
  • Various capital improvements in recent years.
  • Laundry room on-site, along with a utility room – potential value add opportunity to add storage lockers, bike parking, etc.
  • Strong rental demand, with historically low vacancy & strong income history
  • Central Beaverton location, set to benefit from the Allen Blvd. District Plan

OVERVIEW

The Allendale Apartments are located within the strong sub-market of Beaverton, Oregon (Washington County), and provide a stable and affordable housing option within a growing sub-market. The city of Beaverton population currently sits at approximately 100,000, and offers residents access to many major employers within Beaverton & other neighboring Washington County suburbs, while also providing access to the city of Portland less than 10 miles away. The specific location of the Allendale Apartments is set to benefit from the Allen Blvd. District Plan, which focuses on a roughly one quarter mile stretch of Allen Blvd. between Hwy. 217 & Murray Blvd, and provides a focus on enhancing the livability & businesses in the surrounding area. The Allendale Apartments consist of (4) 1 bedroom/1 bath units and six (6) 2 bedroom/1 bath units, providing tenants with spacious & functional living spaces. The community has on-site coin-op laundry, off-street parking, and has the potential for a future owner to add storage lockers for the community. The complex has a combination of newer & long-term tenants, with the majority of units being updated in recent years. Major capital improvements to the complex include New roofing (2018), New parking lot (2018/19), New exterior paint (2021), New perimeter fencing (2023), New Insulation/Vapor Barrier (2023), and unit upgrades (2018-2024).

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$233 USD /SF

# OF UNITS

10

PRICE/UNIT

$175,000

CAP RATE

6.02%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Allendale Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,197 SF

ZONING

R2, Beaverton

APN/PARCEL ID

R0171628

ASK ABOUT THIS PROPERTY

Phillip BarryJoseph Bernard, LLCMore Info
503-593-9707

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Phillip BarryJoseph Bernard, LLCMore Info
503-593-9707

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