Here is the press release from Joseph Bernard”s website, the property is a beautiful 52 unit apartment property that is one block away from Portland State University.  Rents are increasing downtown, and this property indicated the turnover rents downtown may

be increasing faster than people think, stay tuned…

Bernie

SOLD! – Park Terrace Apartments in Southwest Portland, OR

Tue,

2012-01-03

Park TerraceWe are pleased to announce the sale of the Park Terrace Apartments, a 52 unit community located in Southwest Portland, Oregon. This garden court community was built in 1945 and sold for $6,300,000 at a 5.98% cap rate.

For further information on this property or transaction, please contact Bernard Gehret.