Tabor Commons 1020 SE 60th Ave 76 Unit Apartment Building $14,250,000 ($187,500/Unit) 5.73% Cap Rate Portland, OR 97215

Tabor Commons is rich in local history. It was renovated between 2017-2020 at a cost exceeding $10,000,000 but maintains its original character/charm.
Originally constructed in 1928 (the east wing) and 1946 (the west wing), the interior was completely rebuilt with all new mechanical systems, plumbing, electrical, air conditioning, interior fixtures, high quality finishes and innovative design.
Original materials were re-purposed and reused. The mahogany paneling in the lobby was built from woodwork original to the building.
Some of the improvements include seismic upgrading with:
-20,000+ steel helical ties tying the exterior brick walls from the floor to the roof
-Installation of a sprinkler system throughout the building
-Carbon footprint responsible green energy features (eco-friendly rating higher than LEED)
-Sophisticated sound attenuation system to minimize noise and a pressurized circulating air flow system in the hallways to bring 100% fresh air into the building.
-$3,000,000 was spent on the structural system alone so it is almost like a new building inside the original exterior shell, which has been beautifully preserved.