Portland Multifamily Investment
2500 SE 157th Ave, Portland, OR 97236
Value-add 48-unit apartment complex in Portland's Centennial neighborhood.
Type:Multifamily
- Added:
- Nov 20, 2024
- Days on Market:
- 547
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 2500 SE 157th Ave
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Building Details
- Year Built
- 1973
Listing agent Georgie Christensen-Riley License #201253912
Listing office Marcus & Millichap - Portland
Listing date Nov 20, 2024
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Portland
HighLights
- Value‑add investment opportunity to increase rental rates.
- Renovated in 2022, offering modern amenities.
- Located in the desirable Centennial neighborhood with a lower vacancy rate.
- Features desirable unit amenities such as luxury vinyl tile flooring, granite countertops, air conditioning, dishwashers, and private fenced yards.
- Offers community amenities including a pool, onsite leasing office, laundry facilities, and a community room.
- Strategic location provides easy access to shopping, dining, Powell Butte Nature Park, major freeways, and public transportation.
Overview
Bridge City Apartments presents a value-add investment opportunity in Portland, Oregon. Built in 1973 and renovated in 2022, this 48-unit complex is located in the Centennial neighborhood. The property consists of sixteen one-bedroom, one-bathroom units and thirty-two two-bedroom, one-bathroom units. The one-bedroom units have an average rent of $1,258 per month, while the two-bedroom units average $1,443 per month. The apartments feature luxury vinyl tile flooring, granite countertops, air conditioning, dishwashers, and private fenced yards. Community amenities include a pool, onsite leasing office, laundry facilities, and a community room. The property is located 12 miles east of Downtown Portland, offering access to Division Street’s shopping and dining options and proximity to Powell Butte Nature Park. The location also provides convenient access to major freeways and public transportation. The Centennial neighborhood serves as a gateway between Gresham and Southeast Portland, offering affordable rents within an evolving market. Nearby employment centers, including the Oregon Department of Human Services and Microchip Technology Inc., contribute to the neighborhood’s stable tenant base. The Centennial multifamily vacancy rate stands at 4.7% reflecting strong demand.
Location Intelligence
Current Use by Public Records
RjswildwoodsandthingsLlc
Department Store
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.5015461
- Latitude
- 45.504385
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Value-add 48-unit apartment complex in Portland's Centennial neighborhood.
Where is this apartment building located?
The property is located at 2500 SE 157th Ave Portland, OR.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: Value‑add investment opportunity to increase rental rates.; Renovated in 2022, offering modern amenities.; Located in the desirable Centennial neighborhood with a lower vacancy rate.
