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Wellington Heights Estates 1757 NE 162nd Ave 29 Unit Apartment Building $3,750,000 ($129,310/Unit) 6.10% Cap Rate Portland, OR 97230
Investment Highlights
- Original Owner's
- Low-Density
- Thoughtful design and layouts
- 6.1% CAP on actuals, 7% CAP on Proforma
Executive Summary
First time ever on the market!! The Wellington Heights Estates is a unique 29-unit apartment complex, built in 1979 and located on 2.36 acres. Spanning 23 buildings, the property offers a low-density, home-like setting that is seldom found in the Portland market. The units consist of very spacious 2 and 3 bedrooms, with fireplaces, patios and five double car garages, which are attached to the three bedroom units.
The property is 100% occupied, with an historically low vacancy rate. The outer NE Portland market is a very desirable rental market, with lots of major employers in the area. Maximize your portfolio with this never-before-listed-asset.
The property is 100% occupied, with an historically low vacancy rate. The outer NE Portland market is a very desirable rental market, with lots of major employers in the area. Maximize your portfolio with this never-before-listed-asset.
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $3,750,000 | Apartment Style | Garden |
| Price Per Unit | $129,310 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.36 AC |
| Cap Rate | 6.10% | Building Size | 26,368 SF |
| Gross Rent Multiplier | 8.3 | No. Stories | 1 |
| No. Units | 29 | Year Built | 1979 |
| Property Type | Multifamily | Parking Ratio | 1.53/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R3 | ||
| Price | $3,750,000 |
| Price Per Unit | $129,310 |
| Sale Type | Investment |
| Cap Rate | 6.10% |
| Gross Rent Multiplier | 8.3 |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.36 AC |
| Building Size | 26,368 SF |
| No. Stories | 1 |
| Year Built | 1979 |
| Parking Ratio | 1.53/1,000 SF |
| Zoning | R3 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Fireplace
- Storage Space
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Yard
- Freezer
- Patio
Site Amenities
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Picnic Area
- Recycling
- Storage Space
- Online Services
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 24 | - | 841 - 902 |
| 3+1.5 | 5 | - | 1,000 |
Bike Score®
Very Bikeable (74)
Property Taxes
| Parcel Number | R123537 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,258,200 |
Property Taxes
Parcel Number
R123537
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,258,200
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Wellington Heights Estates | 1757 NE 162nd Ave
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