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Green Seed Apartments 16111 E Burnside St 32 Unit Apartment Building $4,200,000 ($131,250/Unit) 6.56% Cap Rate Portland, OR 97233
INVESTMENT HIGHLIGHTS
- Completed in 2021, the property benefits from modern construction standards, and has a low risk of deferred maintenance.
- Located directly on a light rail stop, the asset has great public transit access and close proximity to major thoroughfares.
- Through leasing two ground-floor commercial spaces and/or daylight basement you can improve your annual scheduled revenue.
- The property features solar panels, thermal heating systems, and water-saving appliances that minimize both operating costs and environmental impact.
- The property is fully leased and designed as workforce housing, a highdemand segment that supports long-term stability.
- Through implementing charges to laundry machines, Wi-Fi service, and individual tenant storage units you can further increase your potential income.
EXECUTIVE SUMMARY
Green Seed is a recently constructed and fully occupied 32-unit, carbon-neutral multifamily community featuring a compelling value-add opportunity in a highly desirable, transit-oriented location.
PROPERTY FACTS
| Price | $4,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $131,250 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.51 AC |
| Cap Rate | 6.56% | Building Size | 25,000 SF |
| Gross Rent Multiplier | 8.63 | No. Stories | 3 |
| No. Units | 32 | Year Built | 2021 |
| Property Type | Multifamily | Parking Ratio | 0.64/1,000 SF |
| Property Subtype | Apartment |
| Price | $4,200,000 |
| Price Per Unit | $131,250 |
| Sale Type | Investment |
| Cap Rate | 6.56% |
| Gross Rent Multiplier | 8.63 |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.51 AC |
| Building Size | 25,000 SF |
| No. Stories | 3 |
| Year Built | 2021 |
| Parking Ratio | 0.64/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Deck
- Garden
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Gated
- Storage Space
- Bicycle Storage
- Car Charging Station
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 31 | $1,313 | 313 - 511 |
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Bike Score®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | R217908 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,133,040 |
PROPERTY TAXES
Parcel Number
R217908
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,133,040
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Green Seed Apartments | 16111 E Burnside St
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