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Zavier Apartments 7122 N Greenwich Ave 12 Unit Apartment Building $2,400,000 ($200,000/Unit) 5.21% Cap Rate Portland, OR 97217
INVESTMENT HIGHLIGHTS
- Quality construction with large, 2-bedroom 1.5 bath units and 1 bedroom units
- In-unit laundry
- Brick facade with Pella windows
- Stainless steel kitchen appliances
EXECUTIVE SUMMARY
Quality construction twelve unit with six large, 2-bedroom 1.5 bath Townhouse style units and six 1-bedroom units with separate entrances.
Quartz countertops, stainless appliances, in-unit laundry, bike storage LVP flooring and tiled showers/backsplashes.
Separate trash and recycling area.
Close 1/2 a block from the Max line or bus stop.
Close to Fred Meyer and New Seasons.
Easy I-5 access from Rosa Parks Way.
**Sellers are licensed real estate brokers in Oregon and Montana.
Quartz countertops, stainless appliances, in-unit laundry, bike storage LVP flooring and tiled showers/backsplashes.
Separate trash and recycling area.
Close 1/2 a block from the Max line or bus stop.
Close to Fred Meyer and New Seasons.
Easy I-5 access from Rosa Parks Way.
**Sellers are licensed real estate brokers in Oregon and Montana.
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$244,080
|
$26.37
|
| Other Income |
$2,000
|
$0.22
|
| Vacancy Loss |
$12,204
|
$1.32
|
| Effective Gross Income |
$233,876
|
$25.27
|
| Taxes |
$29,000
|
$3.13
|
| Operating Expenses |
$57,390
|
$6.20
|
| Total Expenses |
$86,390
|
$9.33
|
| Net Operating Income |
$147,486
|
$15.93
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $244,080 |
| Annual Per SF | $26.37 |
| Other Income | |
|---|---|
| Annual | $2,000 |
| Annual Per SF | $0.22 |
| Vacancy Loss | |
|---|---|
| Annual | $12,204 |
| Annual Per SF | $1.32 |
| Effective Gross Income | |
|---|---|
| Annual | $233,876 |
| Annual Per SF | $25.27 |
| Taxes | |
|---|---|
| Annual | $29,000 |
| Annual Per SF | $3.13 |
| Operating Expenses | |
|---|---|
| Annual | $57,390 |
| Annual Per SF | $6.20 |
| Total Expenses | |
|---|---|
| Annual | $86,390 |
| Annual Per SF | $9.33 |
| Net Operating Income | |
|---|---|
| Annual | $147,486 |
| Annual Per SF | $15.93 |
PROPERTY FACTS
| Price | $2,400,000 | Apartment Style | Low-Rise |
| Price Per Unit | $200,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 5.21% | Building Size | 9,256 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2020 |
| Property Subtype | Apartment | ||
| Zoning | EX - Multi Family | ||
| Price | $2,400,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 5.21% |
| 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 | 9,256 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2020 |
| Zoning | EX - Multi Family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Heating
- Refrigerator
- Range
- Double Pane Windows
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Recycling
- Smoke Free
- Trash Pickup - Curbside
- Bicycle Storage
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | $1,395 | 496 - 527 |
| 2+1.5 | 6 | $1,845 | 900 - 990 |
1 1
Walk Score®
Very Walkable (83)
Bike Score®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Number | R214120 | Total Assessment | $1,187,670 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | $29,000 ($3.13/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
R214120
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$1,187,670 (2025)
Annual Taxes
$29,000 ($3.13/SF)
Tax Year
2024
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Zavier Apartments | 7122 N Greenwich Ave
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