NEW TO MARKET: Built in 1967, and beautifully renovated to its mid-century glory in 2017, Twenty Two Twenty Two Apartments consists of 44 apartment units located in SW Portland. This turnkey opportunity features new flooring, fixtures, and updated kitchens/baths in all units, and all supply and drain lines have recently been replaced. The four-story (plus basement) building is concrete and features elevator service, and all of the two bedroom units have energy efficient washers and dryers. Residents enjoy extra amenities rare to a building this size, including a seasonal outdoor pool, sauna, recreation/exercise room, indoor sports court, multiple on-site laundry facilities, as well as off-street parking (most of which is covered). Additionally, there are four penthouse units with rooftop patios that have views of Mt. Hood.
Located just a 10 minute drive from Downtown Portland, tenants benefit from close proximity to Interstate-5 (I-5) and Highway 99, known locally as Barbur Boulevard. Barbur runs parallel to I-5 and serves as a major retail and transit thoroughfare. Construction on a new, 12-mile SW Corridor MAX light rail line is due to begin by 2022, and slated to be delivered in 2027, allowing for convenient public transit to and from important employment, retail, and education centers, including Downtown Portland. The line is set to stretch as far southwest as Tigard.
The property is less than a five-minute walk from the #12 bus stop, with regular service to and from multiple college campuses and downtown Portland. A Safeway grocery store and the Burlingame Fred Meyer shopping center are located within a mile of the subject property. Nearby Gabriel Park and the 650+ acre Tryon Creek State Natural Area provide abundant outdoor amenities for tenants. Capitol Hill Elementary is just two blocks down the street.
