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    11255 Greenburg Rd Portland, OR 97223

    For Sale
    Contact for pricing

    36 Units, Value-Add Opportunity

    Property size:
    32,739 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This 36-unit apartment building presents a compelling value-add investment opportunity in Tigard, Oregon. Built in 1971, the property consists of six, two-story buildings totaling 32,739 square feet on a 1.6-acre lot. The complex features 35 two-bedroom, one-bathroom units averaging 877 square feet and one three-bedroom, two-bathroom unit. Current average rent for the two-bedroom units is approximately 12% below market rate, offering significant rental upside potential. Recent renovations include luxury vinyl plank flooring, custom interior paint, SmartLock keyless entry, stainless steel appliances, new cabinets, and updated lighting. Desirable amenities include a community pool, private yards, air conditioning, and on-site laundry facilities. The property is zoned R12 and is conveniently located near Downtown Tigard, offering residents easy access to shopping, dining, and transportation options, including proximity to the Beaverton Transit Center and Portland International Airport. This well-maintained property, with its substantial rental upside and attractive amenities, represents a strong investment opportunity in a thriving Oregon market. The property's location in Washington County, Oregon's second most populous county, further enhances its investment appeal.

    Property Features for 11255 Greenburg Rd

    General Information

    Property type
    Multifamily properties
    Square Feet
    32,739 SF
    Lot Size
    69,696 SF

    Building Details

    Year Built
    1971
    Buildings
    6
    Stories
    2
    Units
    36

    HighLights

    • Substantially renovated 36‑unit apartment building with significant rental upside potential (rents trail market by ~12%).
    • Located in Washington County, Oregon's second most populous county.
    • Desirable amenities include a community pool, private yards, and air conditioning.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tigardville Apartments Apartment Building

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Gym & Fitness Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.77933859834
    Latitude
    45.438525531154

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    FAQs

    What type of property is this?
    Multifamily property - 36 Units, Value-Add Opportunity
    Where is this multifamily property located?
    The property is located at 11255 Greenburg Rd Portland, OR.
    What are key features of this property?
    This property features: Substantially renovated 36-unit apartment building with significant rental upside potential (rents trail market by ~12%).; Located in Washington County, Oregon's second most populous county.; Desirable amenities include a community pool, private yards, and air conditioning.
    Request Owner's contact information
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    Portland, OR 97223
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    11255 Greenburg Rd Portland, OR 97223
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