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Tabor Terrace Apartments 2219-2231 SE 66th Ave 24 Unit Dormitory $3,600,000 ($150,000/Unit) 6.50% Cap Rate Portland, OR 97215
Investment Highlights
- Absolute Net Lease Sale | 10 Year NNN Term
- Offers Stable, Long-term Cash Flow and a Strong Credit Tenant
- Ideally Located Near the Retail Corridors of SE Division, Hawthorne, and Belmont
- Net Leased 24-Unit Apartment Building in the South Tabor Neighborhood
- Operating as Student Housing for Warner Pacific University
- Brand New Roof
Executive Summary
24-Unit Multi-Family Investment Opportunity
Absolute Net Lease Sale | 10 Year NNN Term
Gross Land: 40,269 SF
Building: 3 Buildings | 19,800 SF Total
Unit Mix: 2 Bed, 1 Bath
Tenant: Warner Pacific University
Sale Price: $3,600,000 ($150,000/unit)
CAP Rate: 6.50%
NOI - Year 1: $234,000
Annual Rent Increases: 3%
Term: 10 Years NNN
Absolute Net Lease Sale | 10 Year NNN Term
Gross Land: 40,269 SF
Building: 3 Buildings | 19,800 SF Total
Unit Mix: 2 Bed, 1 Bath
Tenant: Warner Pacific University
Sale Price: $3,600,000 ($150,000/unit)
CAP Rate: 6.50%
NOI - Year 1: $234,000
Annual Rent Increases: 3%
Term: 10 Years NNN
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 24 | - | - |
Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | R332535 | Improvements Assessment | $2,330,660 |
| Land Assessment | $465,370 | Total Assessment | $2,796,030 |
Property Taxes
Parcel Number
R332535
Land Assessment
$465,370
Improvements Assessment
$2,330,660
Total Assessment
$2,796,030
Contacts
-
Nicholas Diamond -
Riley Henderson -
Michael Horter -
Capacity Commercial Group LLC
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Tabor Terrace Apartments | 2219-2231 SE 66th Ave
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