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2630 SE 136th Ave 18 Unit Apartment Building $2,250,000 ($125,000/Unit) 6.74% Cap Rate Portland, OR 97236
Investment Highlights
- 18 Units - 50% with Renovated Interiors
- 812 SF Avg. Unit Size - $1,357 Avg. Monthly Rent
- Garden Style Design - 4 Buildings (single story); 1 Building (two-story)
- Compelling Value-Add Potential - 18.2% increase on recent lease trade-outs for 2x1 units
- 6.74% Current Capitalization Rate
- Renovated Units Feature LVT flooring, Hard Surface countertops, Washer/Dryer Hookups
Executive Summary
136th Apartments is an 18-unit multifamily investment opportunity located at 2630-2664 SE 136th Ave in Portland, Oregon. The property consists of five buildings in a garden-style configuration across approximately 1.05 acres. Built in 1972. Approximately 50% of the units have been renovated with new LVT flooring, countertops, stainless appliances, paint and trim, and updated light and plumbing fixtures. The property offers an average unit size of 812 square feet and includes washer/dryer hookups in each unit.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Property Facts
| Price | $2,250,000 | Building Class | C |
| Price Per Unit | $125,000 | Lot Size | 1.05 AC |
| Sale Type | Investment | Building Size | 14,624 SF |
| Cap Rate | 6.74% | Average Occupancy | 95% |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1972/2021 |
| Property Subtype | Apartment | Parking Ratio | 2.19/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | RM-1 - Residential Multi-Dwelling 1 | ||
| Price | $2,250,000 |
| Price Per Unit | $125,000 |
| Sale Type | Investment |
| Cap Rate | 6.74% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.05 AC |
| Building Size | 14,624 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built/Renovated | 1972/2021 |
| Parking Ratio | 2.19/1,000 SF |
| Zoning | RM-1 - Residential Multi-Dwelling 1 |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,250 | 658 |
| 2+1 | 15 | $1,575 | 796 |
| 3+1 | 2 | $1,600 | 1,013 |
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Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | R334244 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,189,490 |
Property Taxes
Parcel Number
R334244
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,189,490
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2630 SE 136th Ave
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