Roseway Court Apartment
11 Unit Apartment Building | $1,750,000 ($159,091/Unit) | 6.09% Cap Rate | Portland, OR 97220
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,750,000
- Property Type
-
Multifamily
- Square Feet
- 4,073 SF
Listing Contacts
Cooper Collins
Verified Profile
- Property Info
Property Overview
The Roseway Court Apartments consist of 11 cottage cluster-type units and a traditional single-family residence. The property, built in 1948, has been generally well maintained and is postured for investors seeking value-add opportunities. Ownership has benefited from a strong tenant pool, allowing for quick lease-up. A pervasive sense of community is present, with tenants actively contributing to the upkeep of the property.
The property is located in Northeast Portland's Parkrose Neighborhood. Parkrose is a diverse community with a mix of residential, commercial, and industrial areas. It is known for its proximity to Portland International Airport (PDX) and its accessibility to major highways, such as Interstate 205 and Interstate 84, making it a convenient location for commuters. The neighborhood itself boasts a variety of shops, restaurants, and businesses, contributing to its vibrant and community-oriented atmosphere. Overall, Parkrose is often described as a family-friendly and welcoming neighborhood with a mix of urban and suburban characteristics.
The property is located in Northeast Portland's Parkrose Neighborhood. Parkrose is a diverse community with a mix of residential, commercial, and industrial areas. It is known for its proximity to Portland International Airport (PDX) and its accessibility to major highways, such as Interstate 205 and Interstate 84, making it a convenient location for commuters. The neighborhood itself boasts a variety of shops, restaurants, and businesses, contributing to its vibrant and community-oriented atmosphere. Overall, Parkrose is often described as a family-friendly and welcoming neighborhood with a mix of urban and suburban characteristics.
Property Details
- Class
- C
- Year Built
- 1948
- Stories
- 1
- Lot Size (sq. ft)
- 26,572 SF
- Units
- 11
Highlights
- Value-add opportunity
- Fast lease-up
- Tangible upside in rental income
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