The Powell Terrace Apartments sold for $3,300,000. Like many properties we have seen listed in 2016, there were multiple offers (three) at full price. The 2003 built property was well maintained with long term tenants. Each unit had storage and washer and dryer hookups.
Property Sales Summary:
Price per unit: $117,857
Price per square foot: $145
Cap rate (actual): 5.10%
Bernard Gehret represented the seller and buyer, his annual Buyer Seminar is scheduled for September, 2016 he can be reached at 503-546-9390 to sign up.