6845 Montana Ave Portland, OR 97217
- Residential income homes
- 3,774 SF
Current Use by Public Records
- Residential income homes
Property Details for 6845 Montana Ave
- Year built
- 2023
- Property size
- 3,774 SF
- Property type
- Residential income homes
- Property subtype
- Dormitories
Description
This exceptional investment opportunity presents two brand-new, side-by-side six-unit apartment buildings totaling twelve units in Portland, Oregon's desirable Arbor Lodge neighborhood. Built in 2023, these meticulously crafted buildings boast a combined 3,774 square feet of net rentable space, offering a mix of one and two-bedroom units. Each unit features modern, open-concept designs with high-end finishes including custom kitchens with slab counters and stainless steel appliances, expansive windows, and private fenced backyards with patios. The buildings benefit from a 15-year rent control exemption, minimizing future regulatory burdens. The property enjoys a prime location with a 92 Bikescore, providing easy access to restaurants, parks, shops, and public transportation. The asking price is $3,199,900, representing a compelling price per square foot of $847.88 and a price per unit of $533,316.67. The property's strong performance is reflected in its impressive 5.15% cap rate and a Net Operating Income (NOI) of $164,773. Further enhancing the investment appeal is the inclusion of a one-year builder warranty, providing peace of mind for the new owner. The property is zoned RM3d and offers low maintenance, making it an ideal addition to any investment portfolio. Individual unit virtual tours are available.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.6801466
- Latitude
- 45.5724455
