Rare Opportunity to Acquire 32 Units in Historic Oregon City

4302

Property ID

30,208 SqFt

Size

Description

Tuscany Villa is located in the Barclay Hills neighborhood less than two miles from Main Street Oregon City, an area that has gained popularity for its quaint coffee shops, craft breweries, and local shops. Residents enjoy a short commute to Clackamas Community College (2 miles from Tuscany Villa), and easy access to Portland’s Core Business District via both Highway 99 and I-205/I-5.

SOLID INVESTMENT BENCHMARKS

Tuscany Villa is strategically positioned to sustain cash flow. It has been a reliable asset despite few upgrades to unit interiors, producing consistent income through high occupancy and the adjustment of rents to near- or at-market with organic turnover. An investor can immediately benefit from this continuation of market rate practices.

SIGNIFICANT UPSIDE OPPORTUNITY

As natural turnover occurs, an investor can execute capital improvements upgrading unit interiors with modern finishes. Renovations present the opportunity to elevate performance in a market poised for growth and continued development. Upside potential includes creating new branding and marketing, new exterior paint and refreshed signage/curb appeal. Income growth potential is also possible through monthly garage rentals and utility bill back.

ATTENTIVELY OWNED & MANAGED

This asset has been actively owned and maintained by a local family for 13 years. Recent cap-ex projects include a parking lot upgrade (2020). New windows, garage doors and full exterior paint were completed in 2008. Attentive ownership has helped maintained a high occupancy rate at the property.

ATTRACTIVE UNIT MIX

Tuscany Villa is comprised of 1-bedroom flats and 2-bedroom townhomes averaging 944 sq. ft. per unit. Recent new construction in the Portland metro has delivered an increasing number of relatively smaller studio and one-bedroom product, fueling a demand for larger, two-level townhomes. In addition to spacious floor plans, all Tuscany Villa units offer a full-sized washer/dryer and private deck/patio comprising a competitive amenity set among existing Oregon City product.

 

Address

Address: 581 Holmes Ln, Oregon City, OR 97045, USA
  • Province / State: Oregon
  • City / Town: Oregon City
  • Postal code / ZIP: 97045
Get Directions - Open on Google Maps
  • Property ID 4302
  • Price $4,900,000
  • Property Type Multifamily
  • Property status For Sale
  • Year Built 1968
  • Size 30,208 SqFt
  • Land area 1.52 Acres
  • Label Under Contract
  • Number of Units 32

Map View

Contact

Lindsey Zehel

Property Seller
(971) 888-4010
Lindsey@imgnorthwest.com
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