Available For Sale - Multifamily

14,753 SF | Show Pricing $

LISTED BY

Hugh Holtman
SVN | Imbrie Realty, 503-208-9393

AVAILABILITY DETAILS

Size
14,753 SF
Price/SF
Show Pricing $
Listing ID
SA526971
Notes
Discover the extraordinary Markwell and Annex Apartments, a multifamily investment gem nestled in Portland’s vibrant Cully neighborhood. This property boasts (18) 1 and 2-bedroom units, offering a modern and comfortable living experience. The thoughtfully designed units cater to diverse tenant preferences, ensuring a blend of convenience and urban comfort. Positioned at the heart of the bustling Cully neighborhood, residents will relish the convenience of local eateries, shopping, neighboring grocery, parks, and cultural attractions, fostering a dynamic lifestyle. A standout feature of this investment is the 0.37 acre lot accompanying the property. This promising addition opens doors to future development possibilities, with previous plans for an additional 53 units within the RM1 zoning, enhancing the property’s value and offering an avenue for expansion or improvements Markwell and Annex Apartments present an ideal investment prospect, combining immediate returns with long-term potential. Fully occupied units help offset any carrying costs for the future development and new investors can continue the improvement plan on existing units, with 33% of the units having been updated and achieving 30-40% rent premiums over the most affordable classic units. The property’s strategic location, modern amenities, and the possibility of future development make it a compelling venture for seasoned investors and newcomers alike. Seize this opportunity to become part of the vibrant Cully community with this remarkable investment. Whether you’re seeking a secure income stream or strategic growth potential, Markwell and Annex Apartments offer the best of both worlds.
Uses
Multifamily

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Hugh Holtman, SVN | Imbrie Realty
BRE# 200311162