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Avary Apartments 6940 N Greenwich Ave 12 Unit Apartment Building $2,350,000 ($195,833/Unit) 5.07% Cap Rate Portland, OR 97217
INVESTMENT HIGHLIGHTS
- High Quality Finishes
- Stainless Steel Appliances
- Large windows
- In-unit Laundry
- Brick Exterior
- Close to Fred Meyer and New Seasons
EXECUTIVE SUMMARY
Quality new construction with large units!
Two 2-bedroom 1 bath units
Ten 1-bedroom 1 bath units
In-unit laundry
Stainless Steel appliances
Quartz countertops
Bike storage
Separate trash and recycling center
Heat and AC via PTAC units
Close to the Max line and easy access to Interstate 5
**Sellers are licensed brokers in Oregon and Montana
Two 2-bedroom 1 bath units
Ten 1-bedroom 1 bath units
In-unit laundry
Stainless Steel appliances
Quartz countertops
Bike storage
Separate trash and recycling center
Heat and AC via PTAC units
Close to the Max line and easy access to Interstate 5
**Sellers are licensed brokers in Oregon and Montana
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$233,400
|
$24.83
|
| Other Income |
$9,200
|
$0.98
|
| Vacancy Loss |
$11,670
|
$1.24
|
| Effective Gross Income |
$230,930
|
$24.57
|
| Taxes |
$28,586
|
$3.04
|
| Operating Expenses |
$56,070
|
$5.96
|
| Total Expenses |
$84,656
|
$9.01
|
| Net Operating Income |
$146,274
|
$15.56
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $233,400 |
| Annual Per SF | $24.83 |
| Other Income | |
|---|---|
| Annual | $9,200 |
| Annual Per SF | $0.98 |
| Vacancy Loss | |
|---|---|
| Annual | $11,670 |
| Annual Per SF | $1.24 |
| Effective Gross Income | |
|---|---|
| Annual | $230,930 |
| Annual Per SF | $24.57 |
| Taxes | |
|---|---|
| Annual | $28,586 |
| Annual Per SF | $3.04 |
| Operating Expenses | |
|---|---|
| Annual | $56,070 |
| Annual Per SF | $5.96 |
| Total Expenses | |
|---|---|
| Annual | $84,656 |
| Annual Per SF | $9.01 |
| Net Operating Income | |
|---|---|
| Annual | $146,274 |
| Annual Per SF | $15.56 |
PROPERTY FACTS
| Price | $2,350,000 | Apartment Style | Low-Rise |
| Price Per Unit | $195,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 5.07% | Building Size | 9,400 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2021 |
| Property Subtype | Apartment | ||
| Zoning | R5 - Multi Family | ||
| Price | $2,350,000 |
| Price Per Unit | $195,833 |
| Sale Type | Investment |
| Cap Rate | 5.07% |
| Sale Condition | 1031 Exchange |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 9,400 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2021 |
| Zoning | R5 - Multi Family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Sprinkler System
- Stainless Steel Appliances
- Range
- Double Pane Windows
- Smoke Free
- Window Coverings
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Recycling
- Smoke Free
- Trash Pickup - Curbside
- Bicycle Storage
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 2 | $1,673 | 636 |
| 1+1 | 10 | $1,495 | 560 - 590 |
1 1
Walk Score®
Very Walkable (81)
Bike Score®
Biker's Paradise (100)
PROPERTY TAXES
| Parcel Number | R155860 | Total Assessment | $1,135,750 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | $28,586 ($3.04/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
R155860
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$1,135,750 (2025)
Annual Taxes
$28,586 ($3.04/SF)
Tax Year
2024
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Avary Apartments | 6940 N Greenwich Ave
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