8 Units sold on NW 23rd and NW Glisan for $1,300,000 (The property in the middle with the blue awning)
The Charming 8 Unit Sold in December, 2018

Recently sold: 8 units located at 2354 NW Glisan Street, Portland, Oregon for $1,300,000. The property features a fantastic NW Alphabet District location, one half block from NW 23rd.

Beautiful, vintage units

TRANSACTION SUMMARY:

Price: $1,300,000

Price per unit: $162,500

Price per square foot: $286.59

Estimated cap rate (Actual): 5.14%

Estimated cap rate (Pro forma): 6.83%

The large “studio plus” units have vintage furnishings with outdoor porch areas.

The 1910 property is the classic NW Portland apartment house: front entry, two story walk up with stairwells and porches on the side of the building. You could call this apartment building a “hidden NW 23rd gem” due to the quiet spot and a half block off the main NW 23rd Avenue.

For more information on apartments for sale in Portland, call Bernard Gehret at 503-546-9390.

Bernard Gehret represented the parties in the transaction, for more details call Bernard at 503-546-9390. Here is the property flyer: www.josephbernard.net.