8719 SE Monterey Ave - Apartments FOR SALE


Happy Valley, OR 97086
$5,000,000 USD
503-208-9393
8719 SE Monterey Ave, Happy Valley, OR for Sale
$5,000,000 USD
Apartments - FOR SALE
1/28
null | 5.54% Cap Rate

8719 SE Monterey Ave
Happy Valley, OR 97086


HIGHLIGHTS

  • Attractive Location: Situated in the Happy Valley/Clackamas submarket, one of the fastest-growing areas in Oregon.
  • Transit-Oriented Development: Within proximity to Fuller MAX light rail station, providing direct access to downtown Portland & surrounding metro.
  • Proven Occupancy & Demand: Historically high occupancy rates, supported by a limited supply of comparable rental housing in the immediate area.
  • Value-Add Potential: Improved property management strategies to reduce expenses and bring units to max allowable rents.
  • Affordable Housing: The units are designated for workforce housing, appealing to both investors seeking stable, government-supported cash flow.
  • Strong Economic Drivers: The property benefits from nearby employment hubs, including Clackamas Town Center, Kaiser Permanente & Clackamas College.

OVERVIEW

Town Center Station Apartments is a well-maintained, transit-oriented affordable housing property located in the growing and desirable Happy Valley submarket of the Portland metro area. Built in 2010 utilizing LIHTC and OAHTC programs, this 52-unit community offers a mix of Studio and one-bedroom apartments. The property benefits from strong local demographics, excellent walkability, and proximity to retail (directly across the street from Clackamas Town Center Mall), employment centers, and public transportation. Town Center Station Apartments presents an attractive opportunity for long-term holders seeking a stabilized asset in a high-growth market with strong historical occupancy. With strong economic fundamentals, strategic location, and an under-market rent profile, this property offers immediate cash flow with upside potential through revenue optimization.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$100 USD /SF

# OF UNITS

52

PRICE/UNIT

$96,154

CAP RATE

5.54%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Town Center Station

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1983

PARKING SPACES

55

LAND DETAILS

LAND ACRES

0.69 AC

LAND SF

30,000 SF

ZONING

RCHD

APN/PARCEL ID

00117279

ASK ABOUT THIS PROPERTY

Hugh HoltmanSVN | Imbrie RealtyMore Info
503-208-9393

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Hugh HoltmanSVN | Imbrie RealtyMore Info
503-208-9393

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