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Evelyn Apartments 1215 NW 21st Ave 9 Unit Apartment Building $1,700,000 ($188,889/Unit) 5.76% Cap Rate Portland, OR 97209
Investment Highlights
- 4 small office spaces in the basement
- Secured access with alarm system and security camera
- Strong unit mix with seven 2 bed/1 bath units, a 1/1, and 3/1
- Basement storage lockers for each apartment
- Well maintained and operated
- Walking distance to numerous retail, service & entertainment options
Executive Summary
Norris & Stevens Inc., as the exclusive listing agent, is pleased to present for purchase, the Evelyn Apartments. The Evelyn Apartments is a vintage northwest Portland 9-unit property located in the Nob Hill neighborhood of downtown Portland. The Evelyn is made up primarily of 2 bed/1 bath units with a 1 bedroom and a 3 bedroom as well. The property is conveniently located offering access to countless restaurants, shops, entertainment, and services. It sits on the same block as Legacy Medical Center and just 2 blocks from NW 23rd Avenue, along with being just a few blocks from the Pearl district and Slabtown.
Nob Hill is one of the most desirable neighborhoods in Portland. The lively community spirit serves as a consistent draw for the neighborhood in addition to its unique historic charm and central locale. A broad mix of eclectic local businesses provides residents with tasty eats and entertainment options while quiet residential streets create a pleasant, small-town vibe.
Nob Hill is one of the most desirable neighborhoods in Portland. The lively community spirit serves as a consistent draw for the neighborhood in addition to its unique historic charm and central locale. A broad mix of eclectic local businesses provides residents with tasty eats and entertainment options while quiet residential streets create a pleasant, small-town vibe.
Property Facts Under Contract
| Price | $1,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $188,889 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 5.76% | Building Size | 10,870 SF |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1911 |
| Property Subtype | Apartment | ||
| Zoning | N/Av | ||
| Price | $1,700,000 |
| Price Per Unit | $188,889 |
| Sale Type | Investment |
| Cap Rate | 5.76% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 10,870 SF |
| No. Stories | 3 |
| Year Built | 1911 |
| Zoning | N/Av |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 500 |
| 2+1 | 7 | - | 600 - 700 |
| 3+1 | 1 | - | 750 |
1 1
Walk Score®
Walker's Paradise (97)
Bike Score®
Biker's Paradise (97)
Property Taxes
| Parcel Number | R141318 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $870,450 |
Property Taxes
Parcel Number
R141318
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$870,450
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Evelyn Apartments | 1215 NW 21st Ave
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