$4,090,000 USD
503-498-5380
HIGHLIGHTS
- Absolute Net Lease Sale | 10 Year NNN Term
- Value-add 24-Unit Apartment Building in the South Tabor Neighborhood
- Offers Stable, Long-term Cash Flow and a Strong Credit Tenant
- Operating as Student Housing for Warner Pacific University
- Ideally Located Near the Retail Corridors of SE Division, Hawthorne, and Belmont
OVERVIEW
24-Unit Multi-Family Investment Opportunity
Absolute Net Lease Sale | 10 Year NNN Term
Gross Land: 40,269 SF
Building: 3 Buildings | 19,800 SF Total
Unit Mix: 2 Bed, 1 Bath
Tenant: Warner Pacific University
Sale Price: $4,090,000 ($1870,417 / Unit)
CAP Rate: 5.50%
NOI - Year 1: $225,000
Annual Rent Increases: 3%
Term: 10 Years NNN
FOR SALE DETAILS
PRICE
$4,090,000 USD
PRICE/SF
$197 USD /SF
# OF UNITS
26
PRICE/UNIT
$157,308
CAP RATE
5.5%
% LEASED
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Tabor Terrace Apartments
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Dormitory
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
1960
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.82 AC
LAND SF
35,719 SF
ZONING
R2, Portland
APN/PARCEL ID
R332535
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503-498-5380
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503-498-5380
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