This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
1555 NE Village St
Fairview, OR 97024
Permit Issued Mixed Use - East Portland Metro · Multifamily Property For Sale
·
37 Units
INVESTMENT HIGHLIGHTS
- Shovel-ready Opportunity Zone project with building and site work permits issued.
- Surrounded by walkable amenities including a Target, Post Office, library, VA clinic, Credit Union, City Hall, and Main City Park.
- Major employers Boeing, Amazon, US Bank Microchip, Honda, FedEx, ON Semiconductor, and Pella Windows are all within a 10-minute drive.
- Immediate investment opportunity with reduced time between investment and revenue. Revenue on investment by 2nd Quarter 2023.
- Flat site with parking areas already completed. Four-story wood frame construction simplifies construction and reduces costs.
PROPERTY FACTS
| No. Units | 37 | Lot Size | 0.37 AC |
| Property Type | Multifamily | Building Size | 37,205 SF |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 2023 |
| Building Class | A | Parking Ratio | 2.1/1,000 SF |
| Zoning | Village Mixed Use - Multi-family with ground floor restricted to commercial to offices/services. Capitalize on adjacent Target, 26,000 SF VA clinic, post office, main st | ||
| No. Units | 37 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | A |
| Lot Size | 0.37 AC |
| Building Size | 37,205 SF |
| No. Stories | 4 |
| Year Built | 2023 |
| Parking Ratio | 2.1/1,000 SF |
| Zoning | Village Mixed Use - Multi-family with ground floor restricted to commercial to offices/services. Capitalize on adjacent Target, 26,000 SF VA clinic, post office, main st |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Washer/Dryer
- Security System
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Stainless Steel Appliances
- Tub/Shower
SITE AMENITIES
- Playground
- Walking/Biking Trails
- Storage Space
- Elevator
- Green Community
ABOUT 1555 NE VILLAGE ST , FAIRVIEW, OR 97024
1555 NE Village St in Fairview, Oregon, is an in-fill location at a main commercial intersection in the 91-acre Fairview Village project (www.fairviewvillage.com). Located at the SW corner of NE Village and NE Market Drive intersection, this project is ready to go with all utilities stubbed into the pad area. Property includes TWO properties. Property #1 is a 30,000 SF completed 62-stall parking lot to serve the Ceeley project. Property #2 is a 16,000 SF parcel at SW corner of NE Village & NE Market Drive. The building pad is approximately 8,300 Sf. Site work on Property #2 is 90% complete to within 5-7' of the actual building lines. The site work, which is 90% complete, expedites the construction schedule (delivery Fall 2022) and reduces project risk. The project includes three levels of elevator-served apartments (24-one bedroom and 9 two-bedroom) situated above ground floor commercial/office/medical space that can accommodate as many as four tenants. The property benefits from easy access, just one block south of NE Village/NE Halsey Blvd signalized intersection with Tri-Met stop. Major area employers Boeing, Amazon, US Bank Microchip, Honda, FedEx, On SemiConductor, and Pella Windows are all within a 10-minute drive, creating a robust tenant base. The property is located in one of the 86 Opportunity Zones in Oregon. Ceeley is located in Fairview's Opportunity Zone so can be developed as an OZ deal or non-OZ project.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 9 | $1,750 | - |
| 1+1 | 24 | $1,450 | - |
PROPERTY TAXES
| Parcel Number | R519577 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $4,694,580 |
PROPERTY TAXES
