8 units, Spacious townhome style units in Tigard, Washington County

$1,550,000
For Sale

8169

Property ID

7,272 SqFt

Size

Description

The Greenburg Townhomes are located in the strong sub-market of Tigard, Oregon and are comprised of 8 large townhome style units. Each apartment features 2 bedrooms and 1.5 baths, spacious floor plans, off-street parking, and private back patios. Tenants benefit from a unique oversized lot of nearly half an acre, with ample green space and is located nearby.

The property has operated at a historically low vacancy, which is in line with the latest average vacancy rate reported for the Tigard submarket 2BR townhome style units at 2.55% (Multi-Family NW, Fall 2023). This opportunity provides a new owner with a significant and realistic path to organically increase the revenue at lease renewals or turnovers (the average in place is approx. 10-15% below market). There is also a value-add component by implementing a RUBS system in the future, as there is not one currently in place.

Excellent access to transportation, via 217, I-5, and 99W – and along the path of progress as Tigard continues to make improvements in the surrounding areas. The property has been well maintained and provides a stable home for an investor, with a proven path to grow and get up to market rents.

Address

  • Province / State: Oregon
  • City / Town: Tigard
  • Postal code / ZIP: 97223
  • Property ID 8169
  • Price $1,550,000
  • Property Type Multifamily
  • Property status For Sale
  • Year Built 1967
  • Size 7,272 SqFt
  • Land area 0.00.43 Acres
  • Number of Units 8

Contact

Joseph Chaplik

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