2048 NE Highway 99W - Apartments FOR SALE


McMinnville, OR 97128
$8,250,000 USD
503-390-6060
2048 NE Highway 99W, McMinnville, OR for Sale
$8,250,000 USD
Apartments - FOR SALE
1/55
null | Request Cap Rate

2048 NE Highway 99W
McMinnville, OR 97128


OVERVIEW

Meadowbrook Apartments is a 48-unit, gardenstyle community on 3.74 acres just north of downtown McMinnville — the heart of Oregon’s Willamette Valley wine country. Built in 1978 and owned since 2019, it offers efficient one- and two-bedroom homes averaging 730 square feet across three buildings, with surface parking, on-site laundry, and individual electric metering. Ownership has reinvested $551,644 recently — including but not limited to, 48 new heat pumps, two roofs, and a repaved and resealed lot. McMinnville anchors a diverse economy spanning healthcare (Willamette Valley Medical Center), manufacturing (Cascade Steel Rolling Mills), higher education (Linfield University), and a nationally recognized wine sector — with 90- plus manufacturers and an 800,000-person labor force within a 45-minute drive. About 40 miles southwest of Portland on Highway 99W, it pairs small-city livability with steady employment that underpins durable rental demand.

FOR SALE DETAILS

PRICE

$8,250,000 USD

PRICE/SF

$244 USD /SF

# OF UNITS

48

PRICE/UNIT

$171,875

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Meadowbrook Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

47

LAND DETAILS

LAND ACRES

3.74 AC

LAND SF

162,914 SF

ZONING

R3

APN/PARCEL ID

129783

ASK ABOUT THIS PROPERTY

Khari GatesSMI Real EstateMore Info
503-390-6060

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Khari GatesSMI Real EstateMore Info
503-390-6060

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