Investment Overview

The Rhoades Group at Marcus & Millichap is pleased to exclusively represent the sale of Cedarbrook Apartments in Portland, Oregon. Since construction in 1969, Cedarbrook Apartments have been well maintained, with new roofs and paint since 2019. The property features an appreciable unit mix with one studio, and four one-bedroom flats, ten two-bedroom flats, and two two-bedroom townhomes. This is a unique opportunity to acquire a well-built asset in a desirable part of Oregon's largest metro. Cedarbrook Apartments are ideally located in Southwest Portland, providing a residential feel, while still being situated just ten minutes from downtown Portland. The property sits in a residential neighborhood off SW Beaverton Hillsdale Highway, near a copious amount of retail, dining, parks, and academic options. Serving the growing workforce of Portland and its suburban neighborhoods, these apartments will continue to grow increasingly desirable. Value-add can be achieved through further renovations to the property to decrease operating expenses, and by continuing to upgrade units. These upgrades will promote increased tenant appeal and retention, allowing the capture of over 25% rental upside as indicated by competing properties.