206-240 NE 66th Ave - Apartments FOR SALE


Portland, OR 97213- North Tabor
$3,695,000 USD
503-241-5541
206-240 NE 66th Ave, Portland, OR for Sale
$3,695,000 USD
Apartments - FOR SALE
1/24
null | 5.57% Cap Rate

206-240 NE 66th Ave
Portland, OR 97213
North Tabor


OVERVIEW

HFO is pleased to present Masberg Court, a 25-unit multifamily property located in Portland’s North Tabor neighborhood. Family-owned and self-managed for years, the property offers a compelling opportunity for new ownership to capture operational efficiencies and rent growth, with in-place rents below market and a clear path to increased cash flow without reliance on a capital-intensive renovation program. Current ownership has recently repainted the building exteriors, addressing a meaningful capital item and reducing near-term deferred maintenance exposure. The property features 21 one-bedroom and four two-bedroom units and benefits from a walkable, bike-friendly location near Mount Tabor Park, Providence Portland Medical Center, neighborhood dining and amenities, and the NE 60th Avenue MAX station. Convenient access to three MAX lines, multiple bus routes, and I-84 further connects residents to downtown Portland, PDX Airport, and major employment centers throughout the metro area.

FOR SALE DETAILS

PRICE

$3,695,000 USD

PRICE/SF

$257 USD /SF

# OF UNITS

25

PRICE/UNIT

$147,800

CAP RATE

5.57%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Masberg Court

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1957

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.82 AC

LAND SF

35,719 SF

ZONING

R5

APN/PARCEL ID

R227058,R227096

ASK ABOUT THIS PROPERTY

Greg FrickHFO Investment Real EstateMore Info
503-241-5541

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Greg FrickHFO Investment Real EstateMore Info
503-241-5541

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