5210-5222 SE Rinearson Rd - Apartments FOR SALE


Milwaukie, OR 97267
$2,000,000 USD
503-200-2022
5210-5222 SE Rinearson Rd, Milwaukie, OR for Sale
$2,000,000 USD
Apartments - FOR SALE
1/12
null | 5.91% Cap Rate

5210-5222 SE Rinearson Rd
Milwaukie, OR 97267


HIGHLIGHTS

  • Individual Exterior Entry and Off-Street Parking
  • Walking Distance to Major Retail Corridor—McLoughlin Blvd
  • Spacious Units Featuring One-Bedroom Flats and Two-Bedroom Townhomes

OVERVIEW

The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of The Lynisa. This garden style apartment complex presents an excellent opportunity to acquire a value-add investment in a growing suburb of Portland. This community offers twelve total units with a healthy mix of primarily two bedroom townhomes and by four one bedroom flats. The Lynisa was constructed in 1989 and has been under the same ownership for over 30 years. The property has been well maintained with upgraded finishes in select unit and newer exterior paint. Residents enjoy the oversized floorplans, off-street parking, individual exterior entry, and easy access to major roadways while still being in a quiet residential neighborhood. The property is poised to take advantage of the suburban rental market. Within walking distance of Mcloughlin Blvd, the asset provides for unique retail and dining options, and the property is well-positioned to continue serving the Gladstone community well into the future.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$182 USD /SF

# OF UNITS

12

PRICE/UNIT

$166,667

CAP RATE

5.91%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Lynisa

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1989

PARKING SPACES

20

LAND DETAILS

LAND ACRES

1.57 AC

LAND SF

68,389 SF

ZONING

-

APN/PARCEL ID

00528398,00528423

ASK ABOUT THIS PROPERTY

Whitney RhoadesMarcus & MillichapMore Info
503-200-2022

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Whitney RhoadesMarcus & MillichapMore Info
503-200-2022

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