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Multifamily

Stark Street Townhomes

15847 SE Stark St, Portland, OR 97233

Listing Price: $10,600,000

Cap Rate
6.01%
Number of Units
65
Occupancy
95.0%
Price/Unit
$163,077
Price/Gross SF
$225.65
Gross SF
46,975

Investment Overview

The Stark Street Townhomes is a 65-unit property which presents the opportunity to acquire a well maintained and newly remodeled asset in Portland's Glenfair neighborhood. Constructed in 1972 and remodeled in 2019, the property consists of 25 one-bedroom units, two studios, 34 two-bedroom one-bathroom units, one two-bedroom two-bathroom unit, one two-bedroom/one-and-a-half-bathroom unit, and two three-bedroom/two-bathroom units. Included in the unit mix there are 28 townhomes and two of the townhomes have private yards. The current owner has extensively remodeled the units as well as the exterior. The renovations include new flooring, granite countertops, updated cupboards, new doors, new bathtub surrounds, new vanities and stainless-steel appliances throughout. The exterior upgrades include new roofs, siding and windows. New Owner has Value Add Opportunity to continue to raise rents. The Glenfair neighborhood is conveniently located in East Portland. It offers easy access to interstate 84 and interstate 205 and easy access to the city's extensive public transit system via Max Blue Line which is a six-minute walk from the property. Nearby parks include Glenfair City Park, Parklane City Park and Lynchview City Park.

Investment Highlights

  • Value Add Opportunity - Increase in NOI by pushing rents to market levels
  • Recently Remodeled Units
  • Close to Public Transportation
  • New Roof, Windows and Siding

Exclusively Listed By

Multifamily

Stark Street Townhomes

Listing Price: $10,600,000

Cap Rate
6.01%
Number of Units
65
Occupancy
95.0%
Price/Unit
$163,077
Price/Gross SF
$225.65
Gross SF
46,975

Investment Highlights

  • Value Add Opportunity - Increase in NOI by pushing rents to market levels
  • Recently Remodeled Units
  • Close to Public Transportation
  • New Roof, Windows and Siding

Investment Overview

The Stark Street Townhomes is a 65-unit property which presents the opportunity to acquire a well maintained and newly remodeled asset in Portland's Glenfair neighborhood. Constructed in 1972 and remodeled in 2019, the property consists of 25 one-bedroom units, two studios, 34 two-bedroom one-bathroom units, one two-bedroom two-bathroom unit, one two-bedroom/one-and-a-half-bathroom unit, and two three-bedroom/two-bathroom units. Included in the unit mix there are 28 townhomes and two of the townhomes have private yards. The current owner has extensively remodeled the units as well as the exterior. The renovations include new flooring, granite countertops, updated cupboards, new doors, new bathtub surrounds, new vanities and stainless-steel appliances throughout. The exterior upgrades include new roofs, siding and windows. New Owner has Value Add Opportunity to continue to raise rents. The Glenfair neighborhood is conveniently located in East Portland. It offers easy access to interstate 84 and interstate 205 and easy access to the city's extensive public transit system via Max Blue Line which is a six-minute walk from the property. Nearby parks include Glenfair City Park, Parklane City Park and Lynchview City Park.

Exclusively Listed By

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