4425 SE 26TH Ave - Apartments FOR SALE


Portland, OR 97202- Brooklyn
$1,550,000 USD
503-720-8147
4425 SE 26TH Ave, Portland, OR for Sale
$1,550,000 USD
Apartments - FOR SALE
1/9
null | 5.24% Cap Rate

4425 SE 26TH Ave
Portland, OR 97202
Brooklyn


HIGHLIGHTS

  • Amazing Brooklyn neighborhood location – close to SE Portland’s best neighborhoods
  • Desirable mix of one and two bedroom units with washer/dryer in units
  • Bike Score of 92: Walk Score of 75
  • Several units renovated in last 5 years
  • Off-Street Parking
  • Transit-oriented location, on bus lines, easy freeway access, and 0.5 miles to light rail

OVERVIEW

Located on SE 26th Ave, just off Holgate Blvd, the subject offering consists of eight units in SE Portland’s trendy Brooklyn neighborhood. Built in 1976, the unit mix is comprised of four 2-bed/1-bath units and four 1-bed/1-bath units with an average of 700 square feet. A majority of the units have been remodeled, with the most recent one achieving strong rents, providing a roadmap for future renovation and income growth on the remaining classic units. Additional upside can be achieve through putting all units on utility reimbursements as some do not currently pay RUBS. All units feature full kitchens and washer/ dryers, a rare amenity for apartments in this neighborhood. Tenants enjoy off-street parking in the dedicated parking lot, while plenty of additional parking is available on-street in front of the building. Recent improvements to the building include exterior paint and new trash enclosure. Location is key as this building is positioned in close-in SE Portland’s Brooklyn neighborhood and close to other popular and well-known streets and neighborhoods, like Division, Clinton, and Hawthorne. Sitting a half-block off SE Holgate Blvd, the location provides great access to downtown Portland via car (7 minutes) or bike (15 minutes). This is a true transit-oriented location, with stops for the #17 and #10 busses less than a block away. The Orange Line of TriMet’s Award Winning MAX light rail train stops on SE 17th and Holgate, just nine blocks away. Less than a half-mile away is SE Mcloughlin Blvd (Hwy 99), one of the main north-south thoroughfares running through close-in SE Portland and NE Portland. Next door to the property is Dutch Brothers coffee shop, every tenant’s best friend. Additionally, bars and restaurants are aplenty and walkable, while a Trader Joes and Walgreens are just 13 blocks away. Six blocks east of the property is Kenilworth park, with tennis courts, ball fields, and walking paths. Access to the Willamette River via Oaks Bottom Wildlife Refuge and the Springwater Corridor is a half-mile away, making the location ideal for outdoor enthusiasts.

FOR SALE DETAILS

PRICE

$1,550,000 USD

PRICE/SF

$293 USD /SF

# OF UNITS

8

PRICE/UNIT

$193,750

CAP RATE

5.24%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1976

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

-

APN/PARCEL ID

R274080

ASK ABOUT THIS PROPERTY

Jordan CarterKidder MathewsMore Info
503-720-8147

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Jordan CarterKidder MathewsMore Info
503-720-8147

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