6115 NE Multnomah St, Unit 10 Portland, OR 97213
- Residential income homes
- 7,497 SF
Current Use by Public Records
- Residential income homes
Property Details for 6115 NE Multnomah St
- Year built
- 2023
- Property size
- 7,497 SF
- Property type
- Residential income homes
- Property subtype
- Dormitories
Description
This exceptional investment opportunity presents a newly constructed 15-unit apartment building in Portland, Oregon's desirable Rose City Park neighborhood. Located near the Hollywood district, Laurelhurst, and Providence Medical Center, this property offers unparalleled convenience and accessibility. The building boasts 7,497 square feet, encompassing three stories and fifteen spacious one-bedroom units, each featuring high-end finishes such as custom cabinetry, stainless steel appliances, in-unit laundry, and air conditioning. Many units include covered patios or balconies. Additional amenities include bike storage with electrical hookups and an enclosed trash area. The property benefits from a 1-year builder warranty and a 15-year new construction rent-control exemption. With a pro-forma NOI of $182,055 and a pro-forma cap rate of 6.62%, this property presents a strong return on investment. The asking price is $2,749,900, or $183,327 per unit, and the price per square foot is $366.80. This is a turnkey investment ready for immediate income generation. The property is situated at 6115 NE Multnomah St, Portland, OR 97213. A virtual tour is available online.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.6008485
- Latitude
- 45.5318775
