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Winthrop Halls 714-716 NW 24th Pl 13 Unit Apartment Building $2,800,000 ($215,385/Unit) 5.67% Cap Rate Portland, OR 97210
Executive Summary
Winthrop Halls represents a rare investment opportunity in Portland’s sought-after Northwest district, featuring two historic apartment buildings with timeless architectural character. Originally built in 1904, the property consists of 13 units across approximately 10,379 rentable square feet on a 0.30-acre site. Recent capital improvements include electrical upgrades, replacement panels, and exterior enhancements, ensuring compliance and reducing future maintenance liability. The community offers large and light-filled floor plans, many with private decks or patios, and amenities such as detached garage parking and secured entry access. Located one block from the thriving NW 23rd Avenue retail corridor, Winthrop Halls provides residents with immediate access to boutique shopping, dining, and entertainment, while downtown Portland and the Pearl District are only minutes away via public transportation. With strong historical integrity, modern upgrades, and a walkable urban location, this property is well-positioned for long-term rent stability and value appreciation.
Property Facts
| Price | $2,800,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $215,385 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 5.67% | Building Size | 12,245 SF |
| No. Units | 13 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1904 |
| Property Subtype | Apartment | Parking Ratio | 0.33/1,000 SF |
| Zoning | RM2 - Residential Mixed Density | ||
| Price | $2,800,000 |
| Price Per Unit | $215,385 |
| Sale Type | Investment |
| Cap Rate | 5.67% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 12,245 SF |
| No. Stories | 4 |
| Year Built | 1904 |
| Parking Ratio | 0.33/1,000 SF |
| Zoning | RM2 - Residential Mixed Density |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 13 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | R198450 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,016,130 |
Property Taxes
Parcel Number
R198450
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,016,130
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Winthrop Halls | 714-716 NW 24th Pl
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