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Rochelle Villa Apartments 1111 NE 122nd Ave 43 Unit Apartment Building $5,800,000 ($134,884/Unit) 6.69% Cap Rate Portland, OR 97230
Executive Summary
» Strong East Portland Location: The property is situated in a
consistent and well established East Portland neighborhood
with convenient access to retail, services, and community
amenities. This corridor continues to see reinvestment and
remains an attractive option for residents seeking affordability
and convenience.
» Proximity to Major Employment Centers: Residents benefit
from short commutes to major employers including Adventist
Health, Providence Portland Medical Center, Kaiser Permanente,
Boeing, and the Columbia Corridor industrial employment base.
These job anchors support stable, long term renter demand.
» Management and Operational Upside: The property has been
owned and operated by the same long standing owner for
many years. There is clear opportunity to update management
practices and align rents with the surrounding market while
maintaining competitive affordability.
» Transit and Connectivity: Located along NE 122nd Avenue with
direct access to I 84, I 205, TriMet bus routes, and MAX light
rail. These transportation options provide strong connectivity
throughout the metro area.
» Durable Renter Demand: This submarket continues to attract
renters seeking quality housing near employment and transit,
with limited new supply supporting stable occupancy and long
term performance.
consistent and well established East Portland neighborhood
with convenient access to retail, services, and community
amenities. This corridor continues to see reinvestment and
remains an attractive option for residents seeking affordability
and convenience.
» Proximity to Major Employment Centers: Residents benefit
from short commutes to major employers including Adventist
Health, Providence Portland Medical Center, Kaiser Permanente,
Boeing, and the Columbia Corridor industrial employment base.
These job anchors support stable, long term renter demand.
» Management and Operational Upside: The property has been
owned and operated by the same long standing owner for
many years. There is clear opportunity to update management
practices and align rents with the surrounding market while
maintaining competitive affordability.
» Transit and Connectivity: Located along NE 122nd Avenue with
direct access to I 84, I 205, TriMet bus routes, and MAX light
rail. These transportation options provide strong connectivity
throughout the metro area.
» Durable Renter Demand: This submarket continues to attract
renters seeking quality housing near employment and transit,
with limited new supply supporting stable occupancy and long
term performance.
Property Facts
| Price | $5,800,000 | Building Class | C |
| Price Per Unit | $134,884 | Lot Size | 1.28 AC |
| Sale Type | Investment | Building Size | 38,108 SF |
| Cap Rate | 6.69% | Average Occupancy | 90% |
| No. Units | 43 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 1.08/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R3 | ||
| Price | $5,800,000 |
| Price Per Unit | $134,884 |
| Sale Type | Investment |
| Cap Rate | 6.69% |
| No. Units | 43 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.28 AC |
| Building Size | 38,108 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 1.08/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Fireplace
- Storage Space
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Deck
- Freezer
- Patio
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Storage Space
- Online Services
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 640 - 800 |
| 1+1 | 1 | - | 800 - 892 |
| 2+1 | 25 | - | 892 - 984 |
| 2+1.5 | 9 | - | 984 - 1,076 |
| 3+2 | 2 | - | 1,076 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | R177928 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,966,990 |
Property Taxes
Parcel Number
R177928
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,966,990
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Rochelle Villa Apartments | 1111 NE 122nd Ave
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