11 units, Extensively Renovated Single-Level apartments in SE Portland near Division Street

$2,450,000
For Sale

8162

Property ID

8,231 SqFt

Size

Description

The Tabor Villa Apartments represent a unique opportunity to acquire a turn-key & stabilized asset in the well performing central Southeast Portland sub-market. The property is comprised of 11 units, and is well situated in a quiet residential setting, making for serene living for the residents. Located in the Montavilla neighborhood, near local colleges (Warner Pacific & PCC) and just blocks from the popular amenities along the hubs of SE Portland, Hawthorne, Division, etc, the property appeals to a broad tenant base. The community features single level, modernized apartments with spacious floor plans, and on-site parking. The community underwent a complete transformation in 2022 on both the interior & exterior, with each unit featuring new cabinets, flooring, paint, quartz countertops, SS appliances and various touches throughout.

The property was leased up at strong rental rates in 2022 & 2023, allowing the opportunity for an investor to step in and reap the benefits of a stabilized investment with strong cash flow day 1. The investment also provides additional upside as units re-lease during more favorable leasing months (Spring/Summer), and as the community transitions to a tenant utility bill back system which is currently in motion ( 5 out of 11 units are now on the new system, and the income should continue to increase as more units are added). A truly unique & quality investment opportunity, with the upgrades in place to meet the demands of today’s renters.

Address

  • Province / State: Oregon
  • City / Town: Portland
  • Postal code / ZIP: 97215
  • Property ID 8162
  • Price $2,450,000
  • Property Type Multifamily
  • Property status For Sale
  • Year Built 1966
  • Size 8,231 SqFt
  • Land area 0.00.43 Acres
  • Number of Units 9

Contact

Joseph Chaplik

Property Seller
(503) 546-9390
josephbernardllc@josephbernard.net
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