1814-1820 18Th Ave Portland, OR 97205
- Apartment buildings
- 8,291 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1814-1820 18Th Ave
- Property size
- 8,291 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a three-building apartment complex in Portland, Oregon's desirable Goose Hollow submarket. The property, situated on a single tax lot at 1814-1820 Southwest Main Street & 1105 SW 18th Avenue (97205), comprises a six-unit building, a duplex, and a single-family residence, totaling nine units. Currently boasting 100% occupancy, all units are leased below market rates, offering immediate upside potential for rental income growth. The property's 8,291 square feet are priced at $301 per square foot, with an asking price of $2,500,000 ($277,000 per unit). The current Net Operating Income (NOI) is $87,810, yielding a 3.51% cap rate, while the pro-forma NOI projects a 3.91% cap rate. Importantly, the RM4 zoning allows for high-density residential development, presenting significant long-term redevelopment possibilities. This is a rare chance to acquire a well-located, income-producing asset with substantial upside in a thriving Portland neighborhood. The property offers a compelling blend of immediate cash flow and future development potential, making it an attractive investment for discerning buyers.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.692
- Latitude
- 45.5193
