SOLD! The Broadway apartments sold on October 1, 2018 for $2,350,000. The mixed-use property consists of twelve apartments with two retail spaces, including the popular Saint Simon Coffee Co. coffee shop.
TRANSACTION SUMMARY:
Price: $2,350,000
Price per unit: $167,857
Price per square foot: $361.87
Estimated cap rate: 5.30%
Estimated pro forma cap rate: 6.57%
PROPERTY HIGHLIGHTS:
-2015 Year built
-Well maintained
-Fantastic close-in NE Irvington location
Some units have fireplaces, all have microwaves, and some of the one-bedrooms are townhouse style, which is very rare in the Portland apartment market. The two retail spaces contain a popular coffee shop (Saint Simon Coffee Co.) and a nail salon.
For more information on the transaction and available apartments for sale in Portland, Oregon, call Bernard Gehret at Joseph Bernard Investment Real Estate: 503-546-9390. Joseph Bernard Investment website is here for more information on the market.
