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    7365 -7375 Se Foster Blvd Portland, OR 97206

    Sponsored
    For Sale
    $1,085,000

    Permit-ready, Portland apartment building

    Property size:
    15,646 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a permit-ready, 37-unit apartment building in Portland, Oregon's vibrant Foster-Powell ("FoPo") neighborhood. Located at 7365-7375 SE Foster Blvd, this three-story, 15,646 square foot wood-frame structure is situated on two tax lots, exempt from Portland's Inclusionary Housing provisions. The approved plans, included in the sale, detail a modern design featuring 5 studio, 31 one-bedroom, and 1 two-bedroom unit, all with contemporary finishes. Top-floor units boast vaulted ceilings, while all units include wide-plank LVT flooring, in-unit stackable washer/dryers, two-tone cabinets, porcelain tile backsplashes, undermount sinks, and stainless steel appliances. The building's efficient design minimizes maintenance costs. This prime location offers a walk score of 93 and a bike score of 97, placing it within a walker and biker's paradise near parks, a community center, and the heart of the Foster Blvd revitalization area. Less than six miles from downtown Portland, it provides convenient access to major employment centers. The property's zoning is CM2. The asking price is $1,085,000, representing a price per unit of $50,000. Buyers can proceed with the current design or customize the building to their specifications. All necessary surveys and reports are included in the sale. Potential buyers are advised to conduct their own due diligence to verify the project status with the City of Portland.

    Property Features for 7365 -7375 Se Foster Blvd

    General Information

    Property type
    Multifamily properties
    Square Feet
    15,646 SF
    Class
    B

    Building Details

    Stories
    3
    Units
    37

    HighLights

    • Walkable and bikeable location with Walk Score of 93 and Bike Score of 97.
    • High concentration of one‑bedroom units.
    • Located in the desirable Foster‑Powell ("FoPo") neighborhood.
    • Exempt from Portland's Inclusionary Zoning requirements.
    • Efficient design for low‑maintenance operation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.5873208
    Latitude
    45.4860417

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    FAQs

    What type of property is this?
    Multifamily property - Permit-ready, Portland apartment building
    Where is this multifamily property located?
    The property is located at 7365 -7375 Se Foster Blvd Portland, OR.
    What is the asking price?
    The asking price for this property is $1,085,000.
    What are key features of this property?
    This property features: Walkable and bikeable location with Walk Score of 93 and Bike Score of 97.; High concentration of one-bedroom units.; Located in the desirable Foster-Powell ("FoPo") neighborhood.
    Request Owner's contact information
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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

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    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
    7365 -7375 Se Foster Blvd Portland, OR 97206
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