Canterbury Terrace Apartments 14130 SW 105th Ave 28 Unit Apartment Building $4,100,000 ($146,429/Unit) 6.41% Cap Rate Tigard, OR 97224

» Recent Capital Investment Reduces Near-Term CapEx Burden
Current ownership has invested approximately $98,000 in major building
systems over the past 24 months, including new gutters (March 2026,
$25,000), a new roof on Units 3-4 (January 2025, $14,826), parking lot
asphalt work in December 2025 and July 2024 (~$37,000 combined), and
underground electrical replacement for site lighting (March 2024). New
ownership steps into a well-maintained 28-unit asset with the heavy lifting on
exterior and site infrastructure already complete.
» Loss-to-Lease with Mark-to-Market Upside on Turnover
Long-tenured residency throughout the property has resulted in meaningful
spread between in-place and market rents, creating a clear path to NOI growth
through natural turnover. With no required interior renovation, a new owner
can systematically capture this loss-to-lease as units roll, providing a low-risk
avenue to organic rent growth.
» Highly Desirable Tigard / Bull Mountain Submarket in Washington County
Canterbury Terrace is located in Tigard’s established Canterbury Hill / Bull
Mountain neighborhood, one of the Portland metro’s most sought-after
suburban submarkets. Washington County offers a more favorable operating
environment than Multnomah County including a lower property tax burden
and no Portland-jurisdiction rent regulations or supportive housing tax while
still placing residents 11 miles from downtown Portland with direct access to the
broader metro employment base.
» Broad-Appeal Unit Mix in an Increasingly Scarce Format
The property offers 27 two-bedroom / one-bath units (816–925 SF) plus one
three-bedroom / one-bath unit (952 SF) a unit mix that appeals to a wide renter
base of couples, roommates, and small families who are increasingly priced
out of newer product. With near-full occupancy at 92.9%, demand for this
functional, affordable format remains durable in a market dominated by smaller
new-construction studios and one-bedrooms.
» Connected Suburban Location with Strong Retail and Employer Access
Residents are within a short drive of Bridgeport Village (~1.5 miles), Washington
Square Mall (~3 miles), and PCC Sylvania, with three shopping centers within a
0.4-mile walk. The site offers convenient access to Highway 217 and Interstate
5, connecting residents to the region’s major employment centers including
Nike’s Beaverton headquarters, Intel’s Hillsboro campuses, Providence St.
Vincent Medical Center, and the broader Sunset Corridor tech base.
» Renter-Friendly Amenities on a Mature, Low-Density Site
Every unit features dishwashers, with patios or decks and private storage
available in select units amenities that are uncommon in vintage product. The
site itself is professionally landscaped with mature trees, low-density two-story
buildings, an on-site leasing office, assigned off-street parking, an on-site
laundry facility, and a pet-friendly policy, delivering a residential, neighborhood
feel that drives long-term tenant retention.