17350-17360 SE Pine St, Gresham, Oregon, United States

Report Listing

Home For Sale

$900,000

17350-17360 SE Pine St
Gresham, Oregon, United States

Listed By: Realtyww Info

Listed On: 09/04/2024

Listing ID: GL11353493 View More Details

Description

The Pine Street Apartments represent a unique value-add opportunity in the Rockwood neighborhood of Gresham, Oregon. The property is comprised 6 units, all of which are single level, duplex style units with extensive amenities. The units feature 2br/1ba floor plans, with a dedicated attached garage for each unit, Washer/Dryer hook ups in unit, fireplaces, and private back patios. The units are large and functional, and appeal to a diverse range of tenants, resulting in long-term and stable occupancy over the years. The property has strong in place income (with an average rent of $1, 461 as of August 2024), but also provides an investor with additional runway and upside as units turn and existing leases renew. Located in the Rockwood neighborhood, a diverse and dynamic neighborhood located in East Multnomah County. The neighborhood features a mix of residential and commercial amenities. There are a variety of housing options ranging from modest single-family homes to apartment complexes. Pine Street apartments provides a quiet and serene, residential setting - catering to a strong tenant base providing an investor with stability of operations. The neighborhood of Rockwood has seen significant development and investment in recent years from both the private and public sector, with efforts focused on improving infrastructure and amenities for quality of living. Pine Street apartments present a rare chance to invest in a small apartment community, with strong in-place income - yet an operational value add opportunity and rent upside to be captured. Unique opportunity at an attractive price point.

For more details:

Listed by: Phillip Barry