1713 9 St Gresham, OR 97080
- Apartment buildings
- 20,125 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1713 9 St
- Year built
- 1973
- Property size
- 20,125 SF
- Property type
- Apartment buildings
Description
Hunter Highlands is a well-maintained 23-unit apartment community situated in Gresham, Oregon's historic Southeast neighborhood. This multifamily investment opportunity boasts a desirable location and strong financial performance. Built in 1973, the property comprises three buildings with two stories each, totaling 20,125 square feet. The unit mix includes twenty-two two-bedroom, one-bathroom units and one one-bedroom, one-bathroom unit. Each unit features a private patio or deck, enhancing resident appeal. Ten units have been recently updated to modern standards. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $254,028. Further adding to its value, the property includes coin-operated laundry facilities and benefits from an on-site manager. An assumable Fannie Mae loan is available at a 4.7% interest rate. The asking price is $3,500,000, representing a price per square foot of $173.91 and a price per unit of $132,609. This presents a compelling opportunity for investors seeking a stable, high-performing multifamily asset in a growing market.
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
- Gresham
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.414
- Latitude
- 45.4909
