Investment Overview

Sheridan Plaza is a 33-unit, two-story apartment complex located at 208 SE 5th Ave, Albany, OR 97321. Originally constructed in 1963, Sheridan Plaza totals 26,460 rentable square feet, and features eight (8) 1-Bed/1-Bath, one (1) 1-Bed/1.5-Bath, and twenty-four (24) 2-Bed/1-Bath floorplans Over the last year, the owner has invested more than $1,250,00 renovating the property. Of the thirty-three (33) units, thirteen (13) have been substantially renovated, six (6) have been partially renovated, and one (1) has been newly converted from an office. The property has received substantial improvements in the past few years including; all new roofs and gutters, resurfaced parking lot, exterior siding, landscaping and paint. Sheridan Plaza is ideally located less than four blocks from the retail center of downtown Albany, and less than two miles from shopping and big box retailers. Sheridan Plaza presents an opportunity for an investor to acquire a project with the major work compete allowing for focus on improving cashflow through interior renovations on a proven model. Rents in the area have increased by more than 50% over the past decade and are projected to continue to increase based on demand and low apartment supply.