740 NE 53rd Ave - Apartments FOR SALE


Portland, OR 97213- Rose City Park
$5,930,000 USD
503-218-4387
740 NE 53rd Ave, Portland, OR for Sale
$5,930,000 USD
Apartments - FOR SALE
1/17
null | 5.5% Cap Rate

740 NE 53rd Ave
Portland, OR 97213
Rose City Park


OVERVIEW

*Assumable Financing: Fannie loan at 5.52% interest/only through Nov. 2026 (see Proforma for more info) *~60% of the units left to renovate w/ “classic” finishes offering future upside/reposition potential for a new owner *$684,000 of capital improvements in 2023 including new roof, exterior paint/repairs, & interior renovations *Walkable to Hollywood District, home to the Historic Hollywood Theater and offering a wide array of shopping/dining options *Nearby to a major NE Portland Employer: Providence Portland Medical Center

FOR SALE DETAILS

PRICE

$5,930,000 USD

PRICE/SF

$239 USD /SF

# OF UNITS

38

PRICE/UNIT

$156,053

CAP RATE

5.5%

% LEASED

5%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Orlo Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

27

LAND DETAILS

LAND ACRES

0.95 AC

LAND SF

41,382 SF

ZONING

R1

APN/PARCEL ID

R192781

ASK ABOUT THIS PROPERTY

Benjamin MurphyCommercial Integrity NWMore Info
503-218-4387

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Benjamin MurphyCommercial Integrity NWMore Info
503-218-4387

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