University Park Condo in
1500 SW PARK AVE #303 Portland, OR 97201
For Sale
$205,000
Move-in ready condo with parking, storage, and city views.
Property Size597 SF
Price / SF$343.38
Days on Market559
Property Features for 1500 SW PARK AVE #303
General Information
- Standard status
- Active
- Size
- 597 SF
- Property subtype
- Condominium
Building Details
- Year Built
- 1988
Listing Agency:
Keller Williams Realty S.W. Portland
(503) 317-8299
Listed By:
Tomas Navarro · License #981100157
(503) 317-8299
Source:
Kw
Added: Jan 10, 2025
Changed: Jul 6
Last Checked: Jul 23 at 8:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty S.W. Portland
Investment Insights
Based on property information with market context.
This University Park condo is situated in the heart of the Cultural District, offering affordable city living with views overlooking Portland's historical Park Blocks. The move-in ready unit features 1 bedroom and 1 bathroom, with a property size of 597 square feet. It includes deeded underground parking and a deeded storage unit. The location provides convenient access to PSU, the Farmer's Market, freeways, the streetcar, Max lines, restaurants, and shopping. Residents can enjoy a private secured courtyard, a fitness center, a shared community room, and a rooftop deck with city views. The building offers safe and secure elevator access from the underground parking garage to the unit. The condo provides easy access to The Schnitzer, the Portland Art Museum, the Keller Auditorium, and other cultural attractions. A washer, dryer, and refrigerator are included.
Key Highlights
- Deeded underground parking and deeded storage unit in a prime location.
- Move‑in ready 1 bedroom, 1 bathroom condo overlooking Portland's historical Park Blocks.
- Enjoy the rooftop deck with city views, private secured courtyard, fitness center, and shared community room.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $14.7k | $24.60 |
| − Vacancy | −$749 | −$1.25 |
| EGI | $13.9k | $23.35 |
| − OpEx | −$6.3k | −$10.51 |
| NOI | $7.7k | $12.84 |
597 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$109.5K
$95.8K – $127.8K
NOI $7,665 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$167.7K
$146.7K – $195.6K
NOI $11,736 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
University Park Condos
Condominium Complex
Portland Power Systems
Hardware & Home Improvement
Local Goods LLC
Rehabilitation Center
MTConnect
Corporate Office
RD
Art Gallery
FAQs
What type of property is this?
Apartment building - Move-in ready condo with parking, storage, and city views.
Where is this apartment building located?
The property is located at 1500 SW PARK AVE #303 Portland, OR.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Deeded underground parking and deeded storage unit in a prime location.; Move‑in ready 1 bedroom, 1 bathroom condo overlooking Portland's historical Park Blocks.; Enjoy the rooftop deck with city views, private secured courtyard, fitness center, and shared community room.
