5704 Beaverton Hillsdale Hwy Portland, OR 97221-1947

Property Details for 5704 Beaverton Hillsdale Hwy

Year built

1974

Construction

FRAME

Lot size

0.25 lot acres

Property size

3,804 SF

Zone code

R1

Property type

Apartment buildings

APN

1S1E18BD 00900

APU

1S1E18BD00900

Description

This exceptional 17-unit apartment complex, located in Southwest Portland at 5704 & 5636-5648 SW Beaverton Hillsdale Hwy, presents a compelling value-add investment opportunity. The property, situated on a 0.82-acre lot, boasts 11,750 square feet of net rentable space across three buildings, each two stories high. Built in 1974 and 1978, the complex comprises a mix of one and two-bedroom units, many featuring territorial views and private decks or patios. Approximately half of the units have undergone recent updates. Recent improvements include new gutters and a freshly striped parking lot providing ample parking for residents and guests. The property benefits from a prime location between Raleigh Hills and Hillsdale, two highly desirable neighborhoods. Convenience is key, with a grocery store, pharmacy, coffee shop, and several restaurants within a block, and the Portland Athletic Club directly across the street. Excellent access to public transportation ensures easy commutes to downtown Portland and Beaverton. The property's current NOI is $160,602, with a pro-forma NOI of $176,490, yielding a current cap rate of 5.44% and a pro-forma cap rate of 5.98%. The asking price is $2,950,000, translating to a price per unit of $173,529.41 and a price per square foot of $251.06. On-site laundry adds to the property's appeal. The property is zoned RM2. This park-like setting offers a quiet residential experience with significant upside potential for rental income.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Longitude

-122.736

Latitude

45.4866

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments