34 Unit Apartment Building – $8,500,000 ($250,000/Unit) – 5.24% Cap Rate

Wingsong Manor Apartments, a premier property built in 1993, has maintained full occupancy since its inception. Nestled in the vibrant Mount Tabor neighborhood of Portland, Oregon, this garden court apartment building boasts a prime location. Most units offer stunning city views of Portland from their expansive decks. The spacious apartments are equipped with full-sized washers and dryers, and the property’s flag lot ensures minimal street noise. The competitive market rents make Wingsong Manor a desirable choice for long-term residents, setting it apart from other local properties.

Conveniently located near schools, public transit, and the sprawling 196-acre Mt. Tabor Park, this property is ideal for those seeking a stable, long-term residence. The property spans 1.43 acres and includes 14 one-bedroom units, 20 two-bedroom, two-bath units, 12 detached garages, and 48 surface parking spaces. It offers approximately 28,620 rentable square feet. The existing financing includes a $5,000,000 assumable loan with a 3.43% interest rate, running through July 2031, subject to lender approval. In addition to strong cash flow, the property benefits from a substantial annual loan payoff of $120,000.