The Walnut Grove Apartments, located at 3803 NE 152nd Avenue, sold in March, 2019 for $4,000,000. The property consists of 32 units with a mix of one, two and three bedroom units.
-Low density complex
-Two laundry rooms
Price Per Unit: $125,000
Price Per Square Foot: $147.30
Estimated Cap rate: 6.24% (actual rents, stabilized expenses)
Over recent ownership history, the property has many units upgraded, and the pool was filled in (as with many Portland apartment complexes).
Here is the property flyer: www.josephbernard.net
Bernard Gehret of Joseph Bernard Investment Real Estate brokered the deal, call Bernard for market details: 503.546.9390.