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Ritz Manor 1323 NW 23rd Ave 18 Unit Apartment Building $3,300,000 ($183,333/Unit) 6.21% Cap Rate Portland, OR 97210
EXECUTIVE SUMMARY
Introducing Ritz Manor, a well-located 18-unit multifamily asset in
the heart of Portland’s growing Northwest District. The property has
a classic architectural style that complements the historic charm
of Northwest Portland. Ritz Manor offers a mix of studio and onebedroom
layouts with amenities including fully equipped kitchens with
eating nooks, walk-in closets with built-in storage, secure access, and
an on-site laundry room. The property also includes two retail tenants,
an occupied restaurant and office space.
Ritz Manor’s prime location on NW 23rd Avenue makes it an extremely
appealing option for renters seeking an amenity-rich, urban lifestyle.
Ritz is surrounded by some of the city’s most desirable lifestyle
amenities, such as award-winning restaurants, boutique retailers,
cafés, and local parks. Residents have excellent walkability and access
to public transportation, with multiple streetcar and bus lines nearby,
providing direct access to the Pearl District, downtown Portland, and
major employment centers.
the heart of Portland’s growing Northwest District. The property has
a classic architectural style that complements the historic charm
of Northwest Portland. Ritz Manor offers a mix of studio and onebedroom
layouts with amenities including fully equipped kitchens with
eating nooks, walk-in closets with built-in storage, secure access, and
an on-site laundry room. The property also includes two retail tenants,
an occupied restaurant and office space.
Ritz Manor’s prime location on NW 23rd Avenue makes it an extremely
appealing option for renters seeking an amenity-rich, urban lifestyle.
Ritz is surrounded by some of the city’s most desirable lifestyle
amenities, such as award-winning restaurants, boutique retailers,
cafés, and local parks. Residents have excellent walkability and access
to public transportation, with multiple streetcar and bus lines nearby,
providing direct access to the Pearl District, downtown Portland, and
major employment centers.
PROPERTY FACTS
| Price | $3,300,000 | Apartment Style | Low-Rise |
| Price Per Unit | $183,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 6.21% | Building Size | 12,474 SF |
| No. Units | 18 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1929 |
| Property Subtype | Apartment | ||
| Zoning | CS | ||
| Price | $3,300,000 |
| Price Per Unit | $183,333 |
| Sale Type | Investment |
| Cap Rate | 6.21% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 12,474 SF |
| No. Stories | 3 |
| Year Built | 1929 |
| Zoning | CS |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
- Views
- Freezer
SITE AMENITIES
- 24 Hour Access
- Picnic Area
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 16 | - | 390 - 460 |
| 1+1 | 2 | - | 500 |
1 1
Walk Score®
Walker's Paradise (97)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | R141431 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,554,580 |
PROPERTY TAXES
Parcel Number
R141431
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,554,580
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Ritz Manor | 1323 NW 23rd Ave
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