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8451-8463 SE Foster Rd
Portland, OR 97266
Lents Apartments Lents Apartments · Multifamily Property For Sale
·
7 Units
Investment Highlights
- New Roof 2021
- Zoning CM3 in Key Lents Location
- New Siding and Exterior Paint 2016
Executive Summary
Discover a prime investment opportunity in Southeast Portland with this well-maintained 7-unit multifamily property located in the vibrant Lents neighborhood. Originally built in 1973, this property offers a balanced unit mix of three 2-bedroom apartments and four 1-bedroom apartments, appealing to a wide range of renters. Positioned conveniently along a major bus line, residents enjoy easy access to public transportation, local shops, dining, and neighborhood amenities, making it a desirable and accessible location. This asset offers investors solid financial performance, featuring a cap rate of 5.12 and an NOI of $9,137 per door. Priced competitively at $1,250,000, it presents an excellent balance of stable cash flow and long-term appreciation potential within one of Portland’s continually improving submarkets.
Property Facts
| Price Per Unit | $178,571 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 5.12% | Building Size | 6,558 SF |
| Gross Rent Multiplier | 11.48 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Parking Ratio | 1.52/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | CM3 - The CM3 zone is a large-scale, commercial mixed-use zone intended for sites close to the Central City, in high-capacity transit station areas or town | ||
| Price Per Unit | $178,571 |
| Sale Type | Investment |
| Cap Rate | 5.12% |
| Gross Rent Multiplier | 11.48 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 6,558 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 1.52/1,000 SF |
| Zoning | CM3 - The CM3 zone is a large-scale, commercial mixed-use zone intended for sites close to the Central City, in high-capacity transit station areas or town |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 650 - 750 |
| 2+1 | 1 | - | 914 |
| 2+1.5 | 2 | - | 900 |
Property Taxes
| Parcel Number | R159034 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $323,500 |
Property Taxes
Parcel Number
R159034
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$323,500
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