Imperial Arms 1429 SW 14th Ave 54 Unit Apartment Building $7,850,000 ($145,370/Unit) 6.25% Cap Rate Portland, OR 97201

The Imperial Arms is a 54-unit classic Bricker located in the Goose Hollow neighborhood of SW Portland. This
grand historical property is an iconic fixture of the Portland skyline with dramatic views of both the West Hills
and Downtown Portland. A well-kept trophy asset, with sophisticated old-world charm. The stunning exterior
features a beautiful court-yard entrance, and period finishes that are true to the era. A once in a lifetime
opportunity to acquire this legacy asset that will continue to be a staple of the Urban Portland apartment
market as the market improves.
The Imperial Arms offers a unique and timeless housing option in the market, with a strong unit mix and large
average unit size compared to its vintage counterparts - providing an investor with stability of operations.
The offering is comprised of 54 units in total, ranging in size from 325 to 860 sq. ft. The unit mix provides a
stable investment and variety of floor-plan options – encouraging long-term residency and functionality.
Units offered at Imperial Arms include (19) studios, (22) 1BR, and (13) 2BR floorplans – with varying degrees of
sizes (each unit type offers a standard and large floor-plan option to meet residents needs). All units have
hardwood floors, high ceilings, period finishes true to the era, walk in closets, tiled bathrooms with clawfoot
tubs and select units have balconies. The common areas feature one-of-a-kind woodwork throughout and
paintings that provide a true historic living experience. On-site amenities include laundry, bike parking, and
additional storage – along with an array of common areas for increased security and quality of living.
Additional revenue is generated via a cell-tower lease (NNN) and provides an additional $22,454 per year of
revenue to the property (with an escalation clause of 4% per year).
The property has been owned for multiple generations and has undergone extensive capital improvements in
recent years including Extensive Exterior Repair/Paint (2025), New Boiler (2024), Elevator work and new
bearings (2024), New Windows & Balcony Doors Throughout (2017), New Roof (2015), New Radiator Valves
for all units (2015), and Interior Renovations that have been ongoing throughout the ownership.
The Imperial Arms provides a new owner with a rare opportunity to acquire a well-cared for, vintage asset
with considerable capex completed. Providing a haven for investors to focus on revenue driving
improvements, and improved operations. The current rents in place trail the market by approximately 5% to
10%, and there is additional value-add opportunity through the implementation of a utility bill back system to
residents (which is a commonly accepted charge in the marketplace in 2025).