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- LoopNet Team
11921 SE Ankeny St
Portland, OR 97216
Ankeny Six · Multifamily Property For Sale
·
6 Units
INVESTMENT HIGHLIGHTS
- 2001 Construction
- Luxury Vinyl Plank Flooring
- Washer/Dryer Hook-ups in Each Unit
- Townhome Floor Plans
- Easy Access to MAX Lightrail
PROPERTY FACTS
| No. Units | 6 | Building Size | 5,184 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 2001 |
| Building Class | B | Parking Ratio | 0.58/1,000 SF |
| Lot Size | 0.18 AC | ||
| Zoning | RM3 - Mixed-Use Residential | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.18 AC |
| Building Size | 5,184 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2001 |
| Parking Ratio | 0.58/1,000 SF |
| Zoning | RM3 - Mixed-Use Residential |
ABOUT 11921 SE ANKENY ST , PORTLAND, OR 97216
The Ankeny Six Unit offers investors the opportunity to acquire a newer asset with huge potential at an excellent price point. Comparable properties of this vintage trade for about 200K per unit, and the property is conservatively estimated to be operating with rents about 18% below market. There are very few improvements needed to push the existing rents, but further upside could be captured by renovating interiors with more luxury finishes and fixtures (eg. granite, stainless steel, etc.). This property is best suited for a long term investor who is willing to bring the rents to market over time, and renovate interiors upon turnover. According to CoStar, apartments in the 97216 area code of Portland have increased in sales price per unit by 12.12% since March 2017. The long term outlook for this area continues to look strong as apartment demand remains high, in spite of changing laws and regulations.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | - | 850 |
