287 NE 3rd St - Apartments FOR SALE


Gresham, OR 97030- Downtown Gresham
$8,500,000 USD
503-314-7273
287 NE 3rd St, Gresham, OR for Sale
$8,500,000 USD
Apartments - FOR SALE
1/15
null | Request Cap Rate

287 NE 3rd St
Gresham, OR 97030
Downtown Gresham


HIGHLIGHTS

  • High-Quality Condominium Development Offered as Premier Rental Housing
  • Enhanced Livability and Quiet Comfort
  • Exceptional Walkability with Amenities at Your Doorstep
  • Fully Occupied, High-Demand Retail Component
  • Proximity to Employment Hubs and Outdoor Recreation

OVERVIEW

Condominium Opportunity | Beranger Condominiums offers two distinct pathways to enhance long-term value: 1. Individual Unit Sales – Originally developed and mapped as for-sale condominiums, the property retains its condominium map structure, providing the future opportunity to sell individual residential and commercial units. This flexibility allows for a phased exit strategy or a retail sales approach to maximize returns. 2. Condominium Map Collapse – Alternatively, the existing condominium map can be collapsed into a single legal parcel. This action would trigger a reassessment of the property, resulting in a significantly reduced property tax liability, offering immediate operational cost savings and increased net operating income. These options provide investors with multiple strategic approaches to unlock additional value from this well-located, high-quality asset.

FOR SALE DETAILS

PRICE

$8,500,000 USD

PRICE/SF

$225 USD /SF

# OF UNITS

24

PRICE/UNIT

$354,167

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Beranger Condominiums

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2007

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,651 SF

ZONING

DCC

APN/PARCEL ID

R612945

ASK ABOUT THIS PROPERTY

Robert BlackNorthmarqMore Info
503-314-7273

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Robert BlackNorthmarqMore Info
503-314-7273

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