16111 Burnside St, Unit 16137 Portland, OR 97233-3519
- Apartment buildings
- 15,136 SF
- 0.51 lot acres
Current Use by Public Records
- Green Seed Apartments / Housing Development
Property Details for 16111 Burnside St
- Year built
- 2021
- Lot size
- 0.51 lot acres
- Property size
- 15,136 SF
- Zone code
- NC
- Property type
- Apartment buildings
- APN
- 1N2E36DA 02100
- APU
- 1N2E36DA02100
Description
Exceptional investment opportunity: This 31-unit apartment building in Portland, Oregon, offers a 3.94% cap rate and a strong NOI of $295,254.86. Built in 2021, the property boasts 100% occupancy and features 18,200 square feet of net rentable space across a variety of studio and one-bedroom units ranging from 313 to 511 square feet. The building is uniquely positioned as the only carbon-neutral apartment complex in the Pacific Northwest, incorporating sustainable features such as solar panels, water-saving appliances, and a rainwater harvesting system. Amenities include onsite parking, two ground-floor commercial spaces, and a 1,741-square-foot daylight basement space suitable for various community uses. A community room fosters resident interaction, while individual locking storage spaces add convenience. Located at 16111 E Burnside St, Portland, OR 97233, this property benefits from its proximity to public transportation and is zoned SC Station Center. The asking price is $7,500,000, representing a compelling investment in a high-demand market with a focus on sustainability and community. The property's energy efficiency and focus on affordability make it an attractive option for workforce housing. Rent includes all utilities except internet, starting at $1,150 per month for studio units. This fee-simple ownership opportunity presents a rare chance to acquire a high-performing, environmentally responsible asset in a thriving Portland neighborhood.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $390,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $335,000
- 6.5%
- $310,000
- 7%
- $330,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $380,000
- Geo Method
- $370,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $330,000
- Retail
- $320,000
- Mixed-Use
- $360,000
- Hospitality
- $345,000
- Educational
- $370,000
- Residential Income
- $305,000
- Energy
- $335,000
- Income-Based Land
- $290,000
- Food Service
- $360,000
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.497
- Latitude
- 45.5226
- CBSA code
- 38900
- CBSA name
- PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA
