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Multifamily

Terwilliger Terrace

7360 SW Barbur Blvd, Portland, OR 97219

Listing Price: $6,100,000

Cap Rate
5.13%
Number of Units
36
Occupancy
98.0%
Price/Unit
$169,444

Investment Overview

Built in 1980 Terwilliger Terrace is a thirty-six (36) unit apartment complex located in Southwest Portland. It is comprised of thirty-five (35) one (1) bedroom and one (1) bathroom units and one (1) two (2) bedroom and one (1) bathroom unit. Fifteen (15) units also feature working fireplaces. The units average 750 square feet and 900 square feet, respectively. Acquired in 2019 the current ownership group have invested and completed extensive exterior and interior renovations as well as electrical upgrades. Exterior improvements since acquisition include; 30 Year Malarkey Roofs, Sheathing, Hardie Plank Siding, Window Trim, Awnings, Lattices, Gutters Downspouts, and Exterior LED Lighting. Interior upgrades include; LVT Flooring, Carpet, Refurbished Cabinets, and Paint. Every unit's Electrical Panel was replaced in 2021. Ownership is offering the property to investors with the options of utilizing conventional financing, all cash or for qualified investors assuming the current loan. The current loan is a fixed interest rate of 4.015% with a 20 year term, 30 year amortization and a 5 year step-down prepayment penalty. With a majority of the heavy lifting complete this asset is well positioned for an Investor to increase cash flows by completing interior renovations, improving operational efficiencies and pushing rents while remaining competitive in the marketplace.

Investment Highlights

  • Extensive Interior and Exterior Renovations
  • New Electrical Panels in all 36 Units
  • Opportunity for Investor to Improve Cash Flow Thru Operational Efficiencies
  • Close Proximity to OHSU and Easy Access to Major Thruways

Exclusively Listed By

Financing By

  • Tammy Linden

    First Vice President Capital Markets

    Direct:

    Email Tammy

    Seattle, WA

Multifamily

Terwilliger Terrace

Listing Price: $6,100,000

Cap Rate
5.13%
Number of Units
36
Occupancy
98.0%
Price/Unit
$169,444

Investment Highlights

  • Extensive Interior and Exterior Renovations
  • New Electrical Panels in all 36 Units
  • Opportunity for Investor to Improve Cash Flow Thru Operational Efficiencies
  • Close Proximity to OHSU and Easy Access to Major Thruways

Investment Overview

Built in 1980 Terwilliger Terrace is a thirty-six (36) unit apartment complex located in Southwest Portland. It is comprised of thirty-five (35) one (1) bedroom and one (1) bathroom units and one (1) two (2) bedroom and one (1) bathroom unit. Fifteen (15) units also feature working fireplaces. The units average 750 square feet and 900 square feet, respectively. Acquired in 2019 the current ownership group have invested and completed extensive exterior and interior renovations as well as electrical upgrades. Exterior improvements since acquisition include; 30 Year Malarkey Roofs, Sheathing, Hardie Plank Siding, Window Trim, Awnings, Lattices, Gutters Downspouts, and Exterior LED Lighting. Interior upgrades include; LVT Flooring, Carpet, Refurbished Cabinets, and Paint. Every unit's Electrical Panel was replaced in 2021. Ownership is offering the property to investors with the options of utilizing conventional financing, all cash or for qualified investors assuming the current loan. The current loan is a fixed interest rate of 4.015% with a 20 year term, 30 year amortization and a 5 year step-down prepayment penalty. With a majority of the heavy lifting complete this asset is well positioned for an Investor to increase cash flows by completing interior renovations, improving operational efficiencies and pushing rents while remaining competitive in the marketplace.

Exclusively Listed By

Financing By

  • Tammy Linden

    First Vice President Capital Markets

    Direct:

    Email Tammy

    Seattle, WA

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