1951-1967 NW Burnside St - Apartments FOR SALE


Portland, OR 97209- Uptown Portland
$7,500,000 USD
503-241-5541
1951-1967 NW Burnside St, Portland, OR for Sale
$7,500,000 USD
Apartments - FOR SALE
1/27
null | 5.55% Cap Rate

1951-1967 NW Burnside St
Portland, OR 97209
Uptown Portland


OVERVIEW

The Cambridge-Trinity & Trinity Plaza Apartments, built in 1908 and 1910, are three adjacent communities with 79 units in Northwest Portland’s Alphabet District. They offer budget-friendly living with historic charm in one of the city’s most vibrant neighborhoods. The sellers recently introduced professional third-party management after many years of self-managing the buildings – where they often struggled to keep up with normal turnover, leasing and market rents. The buildings would benefit from continued professional oversight, and value can be added with a refresh of interior finishes and market rental rates. The Cambridge-Trinity Apartments include two connected buildings with 49 residential units and four retail spaces on West Burnside Street. Trinity Plaza, across a shared private courtyard, houses 30 residential units. Located in NW Portland’s vibrant Alphabet District, the buildings are steps from Northwest 21st and 23rd Avenues’ dining, shopping, and entertainment. Providence Park, home to the Portland Timbers and Thorns professional soccer teams, is directly across the street. With easy access to downtown, Portland State University, and outdoor attractions, tenants enjoy immediate proximity to Forest Park—one of the nation’s largest urban forests— and Washington Park, home to scenic trails, the International Rose Test Garden and the Portland Japanese Garden.

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$145 USD /SF

# OF UNITS

79

PRICE/UNIT

$94,937

CAP RATE

5.55%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cambridge & Trinity Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

C3

APN/PARCEL ID

R141207,R198654

ASK ABOUT THIS PROPERTY

Lee FehrenbacherHFO Investment Real EstateMore Info
503-241-5541

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Lee FehrenbacherHFO Investment Real EstateMore Info
503-241-5541

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