1570 James St - Apartments FOR SALE


Woodburn, OR 97071
$4,850,000 USD
503-222-0282
1570 James St, Woodburn, OR for Sale
$4,850,000 USD
Apartments - FOR SALE
1/72
null | 6.43% Cap Rate

1570 James St
Woodburn, OR 97071


HIGHLIGHTS

  • Extensively Renovated in 2018 | All major systems, siding, windows, roof, interiors
  • I-5 Corridor Location | Dual-Metro Access Midway between Portland and Salem on Oregon's primary commerce corridor
  • Strong Submarket Fundamentals | North Marion County workforce vacancy sits at just 3.2%

OVERVIEW

Willamette Pointe Apartments presents a rare opportunity to acquire a fully stabilized, 24-unit apartment community in the heart of Oregon's I-5 Corridor - Located in Woodburn, Oregon midway between Portland (30 miles) and Salem (20 miles). Comprised of six two-story buildings on 1.27 acres, the property was built in 1970 and extensively renovated in 2018 — including updated interiors, roofing, and exterior improvements — offering the operational profile of a modern asset at a compelling basis well below replacement cost. All 24 units are identically configured as two-bedroom, one-and-a-half-bath floor plans of 931 SF, providing management simplicity and broad tenant appeal. The property benefits from a dual-metro employment base and an established renter population. In-place rents average $1,737 per unit.

FOR SALE DETAILS

PRICE

$4,850,000 USD

PRICE/SF

$225 USD /SF

# OF UNITS

24

PRICE/UNIT

$202,083

CAP RATE

6.43%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Willamette Pointe Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

48

LAND DETAILS

LAND ACRES

1.27 AC

LAND SF

55,321 SF

ZONING

RM

APN/PARCEL ID

107267

ASK ABOUT THIS PROPERTY

Cory CarlsonConstant Commercial Real Estate IncMore Info
503-222-0282

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Cory CarlsonConstant Commercial Real Estate IncMore Info
503-222-0282

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