Franklin Court Apartments is a four-building, 20-unit community located in the Richmond Neighborhood of SE Portland. Each of the buildings includes five one-bedroom units and a full basement. The property includes 20 on-site parking spaces (one per unit), which is rare in the local area. The units have been lightly upgraded over the years, and there is an opportunity to complete further renovation work. Current ownership has stayed up-to-date with maintenance, and the property shows very well. The basements have potential to be improved with storage units or potentially additional apartments. Management is in the process of implementing a rental increase that will improve the average in-place rent by 4.8%. This will increase the going in cap rate to +/- 6.2%, allowing a buyer positive leverage at closing. At full market rents, which are +/- 11% higher than current averages, the cap rate will be +/- 6.75%. Please contact the listing brokers for additional information.