503-221-4888
2871 SE Division St, Portland, OR for Sale
Apartments - FOR SALE
1/21
null | Request Cap Rate

2871 SE Division St
Portland, OR 97202
Hosford-Abernethy


HIGHLIGHTS

  • Best-in-class construction quality
  • Desirable location
  • On-site parking

OVERVIEW

The Ellen Browning Building is a best-in-class mixed-use building located along the thriving retail corridor of SE Division Street. Built in 2022 with no expense spared, EBB offers 10 existing apartment units ranging from 964 SF to 3,988 SF, averaging 2,187 SF, and a top floor space that is currently used as common area, but is approved as an apartment unit. CBRE underwriting assumes the top floor will be converted to a +/- 4,500-SF penthouse unit. With the penthouse, the 11 units will average 2,398 SF. In addition to the apartments, the building includes 2,956 SF of prime retail space on the ground floor. The subterranean parking garage offers 16 spaces and six large storage units. This is an opportunity to acquire a generational trophy asset at a significant discount to replacement cost that will never be duplicated. Please contact the listing brokers, Matt Dodd and Sean Milligan, for pricing guidance and more information. Confidentiality Agreement and Offering Memorandum can be found here - https://www.cbredealflow.com/buyer/findprofile?pv=Z-I9J549zUFsSziezRAUlEZSRQZ_J8pHhaJe57yNnt3syFps9VLZ2TRS8ZWuzVicdNXYh8AZ5enuVbLm7-VLyg

FOR SALE DETAILS

PRICE

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# OF UNITS

10

CAP RATE

Request Cap Rate

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ellen Browning building

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2022

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

CM

APN/PARCEL ID

R266702

ASK ABOUT THIS PROPERTY

Matt DoddCBREMore Info
503-221-4888

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Matt DoddCBREMore Info
503-221-4888

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