7560 Emerald Ave Portland, OR 97217

Property Details for 7560 Emerald Ave

Year built

2021

Property size

9,148 SF

Property type

Residential income homes

Property subtype

Dormitories

Description

This exceptional investment opportunity presents eleven brand-new, two-story apartment units in a desirable Portland, Oregon location. Situated on a 10,000 square foot lot, this two-building complex boasts a total of 9,148 square feet of living space, with each unit offering 819-836 square feet of thoughtfully designed living area. The units feature superior quality finishes, including open-concept floor plans, lofty ceilings, hard surface flooring, modern kitchens with slab counters and stainless steel appliances, and in-unit washer/dryer hookups. Exterior amenities include patio space, bike parking, and tasteful landscaping. Currently, 99% of the building is complete and 85% of the units are leased. Built in 2021, the property benefits from a builder's warranty and a 15-year rent control exemption. This prime location in North Portland offers easy access to the University of Portland, parks, shops, and public transportation. A unique aspect of this offering is the possibility to acquire additional buildings and units, expanding the investment to a total of 22 or 33 units across 2-6 buildings. The asking price is $3,999,900, representing a price per unit of $363,627.27 and a price per square foot of $437.24. This is a rare chance to acquire a high-quality, nearly fully leased multifamily property in a thriving Portland neighborhood.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Longitude

-122.6999384

Latitude

45.5777721