911 15th St
Oregon City, OR 97045
The Hudson · Multifamily Property For Sale · 20 Units

The River Cliff Terrace apartments are located in Oregon City, one of Portland’s closest and fastest growing suburbs. Consisting of 20 one-bedroom/one-bathroom units, the property was built in 1966 on a bluff overlooking the Willamette River, and today is nestled among the trees and wildlife in a park-like setting at the end of a private drive. Units feature full kitchens with dishwashers, private views through larger windows, an onsite laundry facility, and off-street parking. River Cliff Terrace has had updates during the long current ownership period, including some roof replacements, a recently refinished laundry room, and a new parking lot. Additional improvements are needed, however, to take the building to the next level, such as accentuating the views of the Willamette River through tree trimming and landscaping, painting the building exteriors, and upgrading windows. Coupling exterior improvements with turning unit interiors and increasing rents to market would result in making River Cliff Terrace a highly coveted value-add play. From a location standpoint, tenants benefit from nearby amenities such as a TriMet bus stop just two blocks away, quick access to the I-205 freeway, four public parks within blocks of the property, and several shopping centers – including the Fred Meyer anchored Hilltop Mall, the Oregon City Shopping Center, and Home Depot. River Cliff Terrace is also within walking distance of Oregon City’s historic downtown neighborhood, which features a vibrant mix of unique businesses, activities, and restaurants, attracting local residents and visitors to come explore the “first city” in the Oregon Territory – where the Oregon Trail came to an end along the banks of the Willamette River.