Investment Highlights
Contemporary Design, Market-Leading Building Amenities and Finishes – The property boasts well-conceived, top-of-the-market finishes, amenities and design, taking pride of place in the Sunnyside submarket.
Easy Access to Major Employers – Direct access to employment in the Central Eastside District (1.5 miles), the employment-heavy Lloyd District (2.0 miles), Central Business District (3.0 miles), and OHSU (5.0 miles) and Providence Health Hollywood (.5 mile) job centers.
Amenity-Rich Desirable Urban Neighborhood Location – Portland’s trendy Sunnyside-Belmont neighborhood is one of the city’s most highly sought-after urban neighborhoods, with an average home price of $549,615 and median household income of $65,311. Median home values in Sunnyside have appreciated 17% from 2016 to 2017.
Walk, Bike, and Transit Friendly – Sunnyside-Belmont has a Walk Score of 87, a Bike Score of 100, and is accessible to Trimet's frequent high capacity bus service from Belmont Street.
Belmont and Hawthorne Retail Corridor – Sunnyside is well situated within the iconic, well-established, retail/restaurant rich Hawthorne Boulevard and Belmont Street commercial corridors.
Robust Lease-Up – In a competitive market, Sunnyside demonstrated a strong leasing velocity demonstrating the desirability of the area, the units, and the scarcity of any new competitive product in the immediate area.
Shielded From Today's Current Pipeline – Unlike other areas of urban Portland, the Sunnyside-Belmont neighborhood is generally shielded from the current Portland multifamily development pipeline. There is only one new multifamily asset under construction within a one-mile radius.
