Investment Overview

The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of Belmont Street Apartments, a classic 19-unit property built in 1927, located in the highly desirable Sunnyside/Belmont neighborhood. This exceptional asset seamlessly blends historic charm with modern conveniences, featuring a diverse mix of studio, studio-plus, one, and three-bedroom units that cater to a wide range of tenant needs. The property includes secure bike storage, on-site common laundry facilities, and a secured entrance, ensuring both convenience and peace of mind for residents. Belmont Street Apartments’ prime location grants residents immediate access to one of Portland’s most vibrant and sought-after areas, renowned for its wide mix of dining, shopping, and entertainment options. From the trendy vibe of Belmont to the lively streets of Hawthorne and Burnside, tenants can immerse themselves in a dynamic urban lifestyle, enjoying easy access to top-rated cafes, unique boutiques, local markets, and nightlife. The unparalleled convenience and energetic neighborhood atmosphere make Belmont Street Apartments an ideal choice for a diverse and engaged tenant base. Belmont Street Apartments present a compelling investment opportunity, offering a potential 12% upside through strategic rent adjustments, the implementation of a Ratio Utility Billing System (RUBS), and operational optimization. The property’s timeless architecture, well-maintained condition, and the neighborhood’s enduring popularity contribute to long-term value appreciation and strong returns in the thriving Portland rental market.