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Camelia Apartments 13145 SE Division St 29 Unit Apartment Building $3,750,000 ($129,310/Unit) 5.36% Cap Rate Portland, OR 97236
INVESTMENT HIGHLIGHTS
- New Roofs 2019
- Updated With Window Package and Newer Kitchens + Flooring
- In-Unit Laundry
EXECUTIVE SUMMARY
The Camelia Townhouse Apartments, built in 1972, has 29 units located in 6 buildings spread over 1.5 Acres. This fully rented complex features Townhomes that have been updated over the years with new kitchen cabinets, flooring and newer vinyl windows in most of the apartments. Each of the 6 buildings have new roofs, installed in 2019, and every apartment has its own Washer & Dryer and is on a separate electrical meter. Camelia Townhomes have 25- 2 Bedroom 1.5 Bath, 930 sq ft apartments and 4- 3 Bedroom 1.5 Bath 1148 sq ft apartments, AND every Townhome comes with a dedicated parking space with 20 overflow spaces. On a Bus Line and close to multiple Parks, local services, shopping and restaurants, this 29 unit complex is priced under $130K per door. Below market rents offer top line growth opportunity.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $3,750,000 | Apartment Style | Townhome |
| Price Per Unit | $129,310 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.49 AC |
| Cap Rate | 5.36% | Building Size | 27,842 SF |
| Gross Rent Multiplier | 9.48 | Average Occupancy | 100% |
| No. Units | 29 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1972 |
| Property Subtype | Apartment | Parking Ratio | 1.76/1,000 SF |
| Zoning | R2a | ||
| Price | $3,750,000 |
| Price Per Unit | $129,310 |
| Sale Type | Investment |
| Cap Rate | 5.36% |
| Gross Rent Multiplier | 9.48 |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 1.49 AC |
| Building Size | 27,842 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 1.76/1,000 SF |
| Zoning | R2a |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Oven
- Tub/Shower
- Pantry
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 25 | $1,113 | 930 |
| 3+1.5 | 4 | $1,338 | 1,148 |
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Bike Score®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Number | R144042 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,741,600 |
PROPERTY TAXES
Parcel Number
R144042
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,741,600
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Camelia Apartments | 13145 SE Division St
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