2157 W Burnside St - Apartments FOR SALE


Portland, OR 97210- Uptown Portland
$3,680,000 USD
503-218-4387
2157 W Burnside St, Portland, OR for Sale
$3,680,000 USD
Apartments - FOR SALE
1/18
null | 6.99% Cap Rate

2157 W Burnside St
Portland, OR 97210
Uptown Portland


OVERVIEW

Long-Term Ownership - significant Capital Expenditures in the recent term including elevator upgrades, security gate, high efficiency gas hot water system, and updated electrical/wiring 7% cap on current rents - recent lease trade-outs achieving 9.3% increases Significant Ancillary Commercial Income - billboard lease through 2030 with base rent of $2k/month + 50% of advertising revenue A+ Location / Walkability - Located next door to the iconic Ringside Steak House and blocks from NW 23rd Avenue, the heart of Portland’s NW Alphabet District Potentially Assumable Financing - for qualified Buyers, 4.55% fixed through October, 2029. Surrounded by some of Portland’s Most Iconic Amenities - walking distance to Powell’s Books, Providence Park, Multnomah Athletic Club, Washington Park, & NW 23rd Avenue shopping/dining. Studio and 1-Bedroom Units - provide an affordable price point for urban renters.

FOR SALE DETAILS

PRICE

$3,680,000 USD

PRICE/SF

$178 USD /SF

# OF UNITS

35

PRICE/UNIT

$105,143

CAP RATE

6.99%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Topanga Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1909

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,820 SF

ZONING

CXD

APN/PARCEL ID

R143136

ASK ABOUT THIS PROPERTY

Benjamin MurphyCommercial Integrity NWMore Info
503-218-4387

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Benjamin MurphyCommercial Integrity NWMore Info
503-218-4387

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