855.375.4001
Listing Courtesy of: Santino Filipelli - Modern Realty 971-340-6636
$1,895,000 affordable loan icon Calculate Payment

22920 NE HALSEY St Unit 22920 WoodVillage, OR 97060

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Multi-Family Residence
Beds
Baths
... Bed/Bath
7,056 Sq. Ft.

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Last updated on 7/1/2024 7:08 AM
Built in 1975, The Tristy Ann Apartments are a turn-key 9-unit complex consisting of all 2-bedroom 1-bathroom apartments flats, located within three (3) one-level triplex style buildings. The property sits on approximately 0.8 acres with a mix of NC (Neighborhood Commercial) and MR-2 (Multi Resident...ial 2,000) zoning. Located in the City of Wood Village, an eastern suburb only 20 minutes from Downtown Portland, the property benefits from its convenient access to Interstate 84, Mt. Hood Community College, and its proximity to major retailers, employers, entertainment options, city parks, and regional destinations. The unit mix is comprised entirely of 2-bedroom apartments roughly 784 square feet in size. Units are arranged such that there are no residents above or below other tenants, maximizing privacy and minimizing noise from neighbors. The flag lot and courtyard setting provides ample privacy and parking for residents. Current ownership has invested significant capital into improving the condition of the property and resident experience over the course of ownership. Recent interior improvements include new cabinetry, LVP flooring, paint, carpet, countertops, and hardware & fixtures. Each unit contains washer/dryer hookups. Current ownership has successfully renovated a majority of the units, proving out a market rent that is more than $200/month higher than the current average rent. Additionally, management has implemented a resident utility bill-back program that has effectively passed-through more than 98% of the utility expenses, from owner to the occupant(s). A new owner may renovate the remaining units to capture the 14%+ loss to lease, or elect to continue operating the property in its current condition and benefit from the steady and reliable cash flow. The subject property presents an ideal opportunity for an investor looking to acquire an already stabilized asset with proven upside, that is located in a growing submarket outside the City of Portland. Continue reading
MLS#
24220911
Property Type
Multi-Family
Status
Year Built
1975
Square Feet
7,056 sq. ft
Lot Size
0.8
Sewer
Public Sewer Available

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Listing Courtesy of: Santino Filipelli - Modern Realty 971-340-6636
Andrea D. Conner, License 201225347, Xome Inc., License 201213296, [email protected], 844-400-XOME (9663), 725 S. Main Street, Milton-Freewater, OR 97862


The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS™ of Portland, Oregon. Real estate listings sourced from RMLS™ of Portland Oregon are marked with the RMLS™ logo, and detailed information about these properties includes the names of the listing brokers. Listing content is Copyright 2024, RMLS of Portland, Oregon. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
This content last refreshed on 7/1/2024 7:08 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
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