Pacific Ce Aame 5235 Shea Lambe See Plad, OR 97206 Pice: $2,600,000 Ce Ca Rae 5.68% Ui: 16 G.R.M. 11.77 COLE ROFFMAN Picial Bke 971-279-2798 [email protected]200606083 AMY ROFFMAN Bke 503-887-0199 [email protected]201222702 7460 SW Ca Die Plad, Oeg 97225 Pe Highligh Ecelle lcai eighbig he h Wdck Si, ea Reed Cllege, ih cle imi D Plad Pe feae a e f, ee eei ai, il id, ce lmbig, -ie lad faciliie, ealed/ied akig l, eaae eace f gabage clleci, eci camea, eei bildig fie alam, d CMU cci Siee (16) i cmied f eigh (8) 825 f. 2-bed 1- bah i, ee (7) lage 725 f. 1-bed 1-bah i, ad e (1) 625 f. 1-bed 1-bah i 15 Ui feae gaded iei hich iclde e aliace, flig, me cabie, ce , ad fie. Remaiig i ha ee aliace Uide e ad hgh ili eimbeme. Dal CM1/R2 ig ma all f mied e edeelme
Transcript
Pacific Crest Apartments5235 Southeast Lambert Street
Property Highlightsb Excellent location neighboring the hot Woodstock Strip,
near Reed College, with close proximity to DowntownPortland
b Property features a new roof, newer exterior paint, vinylwindows, copper plumbing, on-site laundry facilities,sealed/striped parking lot, separate entrance for garbagecollection, security cameras, exterior building fire alarm,sturdy CMU construction
b Sixteen (16) units comprised of eight (8) 825 sqft. 2-bed 1-bath units, seven (7) large 725 sqft. 1-bed 1-bath units, andone (1) 625 sqft. 1-bed 1-bath unit
b 15 Units feature upgraded interiors which include newappliances, flooring, some cabinets, counter tops, andfixtures. Remaining unit has newer appliances
b Upside on turnover and through utility reimbursement.Dual CM1/R2 zoning may allow for mixed useredevelopment
Pacific Crest Apartments | DescriptionPacific Crest Apartments feature a close in east side location which neighbors the hotWoodstock Strip, is near Reed College, and is in close proximity to Downtown Portland.Public Transportation is available via a short two block walk to Busline 71. Residentsenjoy a bike score of 78 and all the benefits that excellent access to bicycleinfrastructure entails including very convenient access to the Brentwood DarlingtonCommunity Center, Errol Heights City Park, and Hazeltine Park nearby.
Originally built in 1966; extensive recent capital improvements include new sealcoat andstriping on the parking lot, new roof under warranty, vinyl windows, new appliances,new counter tops, new flooring, and new fixtures. The exterior has been recently paintedand is in excellent condition. The subject property consists of a desirable mix of eight (8)One Bed One Bath and eight (8) Two Bed One Bath units.There is ample parking andresidents have secure access to laundry facilities available onsite. Residents also haveaccess to an outdoor barbecue and picnic area and bicycle storage.
The property presents an opportunity for significant upside on unit turnover throughsetting new rents and through implementing a utility reimbursement program, andshould experience continued growth and stability as the submarket continues todevelop. With the properties R2/CM1 dual zoning; there may be a possible long termmixed use re-development opportunity as an exit strategy.
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PROPERTY SUMMARYPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
Property SummaryCounty MultnomahYear Built 1966Units 16Unit Mix (8) 1/1 & (8) 2/1Purchase Price $2,600,000Price Per Unit $162,500Rentable Sq. Ft. 12,300Cap Rate 5.68%Price Per Sq. Ft. $211.38APN R144746Zoning R2/CM1Lot Size 21,450 Sq. Ft.Floors 2Construction Type Reinforced ConcreteRoof Built Up *NEW 2018Foundation ConcreteWindows VinylParking Lot Asphalt *2018Parking Ratio 1.63Laundry On-site Coin
OperatedHeat Cadet/Baseboard
Property OverviewOriginally built in 1966; this copper plumbed reinforced concretebuilding features extensive recent capital improvementsincluding new sealcoat and striping on the parking lot, new roofunder warranty, vinyl windows, new appliances, new counter tops,new flooring, and new fixtures. All but one of the units have beenupdated. The exterior paint is in excellent condition. The subjectproperty consists of a desirable mix of eight (8) large One Bed OneBath and eight (8) Two Bed One Bath units.There is ample parkingand residents have secure access to laundry facilities availableonsite. Residents also have access to an outdoor barbecue andpicnic area.
Location OverviewPacific Crest Apartments feature a close in east side locationwhich neighbors the hot Woodstock Strip, is near Reed College,and is in close proximity to Downtown Portland. PublicTransportation is available via a short two block walk to Bus Line71. Residents enjoy a bike score of 78 and all the benefits thatexcellent access to bicycle infrastructure entails including veryconvenient access to the Brentwood Darlington CommunityCenter, Errol Heights City Park, and Hazeltine Park nearby.
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Pricing & FinancialAnalysis
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UNIT MIX REPORTPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
Units Type Approx. SqFt Avg. Rents Monthly Mkt Rents Monthly
7 1+1 725 $1,016 $7,110 $1,150 $8,050
1 1+1(A) 625 $975 $975 $1,050 $1,050
8 2+1 825 $1,259 $10,070 $1,350 $10,800
16 12,300 $18,155 $19,900
UNIT MIX UNIT MIX SQUARE FEET
● 1+1● 1+1(A)● 2+1
● 1+1● 1+1(A)● 2+1
UNIT MIX INCOME UNIT MIX MARKET INCOME
● 1+1● 1+1(A)● 2+1
● 1+1● 1+1(A)● 2+1
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UNIT RENT ROLLPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
Unit Description Approx. Sq. Ft. Current RentPro Forma
PRO FORMA SUMMARY Pacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
INCOME
Description Actual Per Unit Pro Forma Per UnitGross Potential Rent $217,860 $13,616 $238,800 $14,925 - Less: Vacancy ($6,536) ($408) ($7,164) ($448)
+ Misc. Income $2,988 $187 $19,200 $1,200
Effective Gross Income $214,312 $13,394 $250,836 $15,677
OPERATING EXPENSES
Description Actual Per Unit Pro Forma Per UnitProperty Management Fee $6,625 $414 $8,358 $522
Office/Administration $2,305 $144 $1,640 $103
Pest Control $1,147 $72 $1,175 $73
Building Insurance $3,941 $246 $4,100 $256
General Supplies $397 $25 $450 $28
Landscaping $0 $0 $2,400 $150
Handy Man $9,350 $584 $10,370 $648
Maintenance $5,968 $373 $5,360 $335
Repairs $4,320 $270 $2,935 $183
2018 Taxes - Real Estate $18,133 $1,133 $18,680 $1,168
Trash Removal $3,197 $200 $3,295 $206
Utility - Electricity $1,322 $83 $1,365 $85
Utility - Water & Sewer $9,880 $618 $10,175 $636
TOTAL EXPENSES ($66,585) ($4,162) ($70,303) ($4,394)
NET OPERATING INCOME $147,726 $9,233 $180,533 $11,283
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PRO FORMA SUMMARY Pacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
UNIT MIX & MONTHLY SCHEDULED
Type Units Actual TotalPro
FormaTotal
1+1 7 $1,016 $7,110 $1,150 $8,050
1+1(A) 1 $975 $975 $1,050 $1,050
2+1 8 $1,259 $10,070 $1,350 $10,800
TOTALS 16 $18,155 $19,900
ANNUALIZED INCOME
Description Actual Pro FormaGross Potential Rent $217,860 $238,800 - Less: Vacancy ($6,536) ($7,164)
+ Misc. Income $2,988 $19,200
Effective Gross Income $214,312 $250,836 - Less: Expenses ($66,585) ($70,303)
Net Operating Income $147,726 $180,533 - Debt Service ($79,958) ($79,958)
Net Cash Flow after Debt Service $67,768 $100,575 + Principal Reduction $26,069 $26,069
TOTAL RETURN $93,837 $126,644
ANNUALIZED EXPENSES
Description Actual Pro FormaProperty Management Fee $6,625 $8,358
Office/Administration $2,305 $1,640
Pest Control $1,147 $1,175
Building Insurance $3,941 $4,100
General Supplies $397 $450
Landscaping $0 $2,400
Handy Man $9,350 $10,370
Maintenance $5,968 $5,360
Repairs $4,320 $2,935
2018 Taxes - Real Estate $18,133 $18,680
Trash Removal $3,197 $3,295
Utility - Electricity $1,322 $1,365
Utility - Water & Sewer $9,880 $10,175
TOTAL EXPENSES $66,585 $70,303EXPENSES PER RSF $5.41 $5.72EXPENSES PER UNIT $4,162 $4,394
*Pro Forma Misc. Income: Pet Rent $30/Non-ADA ($540/m) + Utility Fee $45/1Bed +$55/2Bed ($800/m)
INVESTMENT SUMMARY PRICE $2,600,000Year Built 1966Units 16Price/Unit $162,500RSF 12,300Price/RSF $211.38Lot Size 21,450 sfFloors 2APN R144746Cap Rate 5.68%Pro Forma CapRate
PROPERTY PHOTOSPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
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Two Bedroom Unit Kitchen Remodel A Two Bedroom Unit Bathroom Remodel
Two Bedroom Unit Kitchen Remodel B One Bedroom Unit Bathroom Remodel
One Bedroom Unit Kitchen Remodel Bedroom
PROPERTY PHOTOSPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
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Mailbox Laundry Room
Separate Garbage Driveway & Enclosure Signage
PROPERTY PHOTOSPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
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Maps and Aerials
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LOCATION MAPPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
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REGIONAL MAPPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
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AERIAL MAPPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
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BUSINESS MAPPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
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Comparables
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RENT COMPARABLES CHARTSPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
Subject 1 2 3 4 5 6 7 8 9 A B C D E F G
10%
20%
30%
40%
50%
60%
70%
80%
90%
100% Avg.97.313
Occupancy
Two Bedroom One Bath Two Bedroom Two Bath One Bedroom One Bath Three Bedroom One Bath
$150
$300
$450
$600
$750
$900
$1,050
$1,200
$1,350
$1,500
$1,273
$1,418
$1,129
$1,275
Average Rent per Unit Type
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RENT COMPARABLESPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
S
Pacific Crest Apartments5235 Southeast Lambert Street, Portland, OR 97206
Avg $1.48RSF 12,300Occupancy 100%Units 16Year Built 1966
# Units Unit Type Avg Rent7 1+1 $1,016
1 1+1(A) $975
8 2+1 $1,259
NotesSealed and Re-striped Parking Lot, New Roof, and Vinyl Windows. Units recently renovated withAppliances, Flooring, Fixtures, Cabinets, and Countertops. On-site Laundry.
1
Ridgewood Apartments5806-5810 SE Ogden St, Portland, OR 97206
Avg $0.00RSF 12,302Occupancy 97%Units 15Year Built 1972
# Units Unit Type Avg Rent14 Two Bedroom $9861 Two Bedroom $1,150
NotesSome new appliances and flooring. W&D Hookups. Decks/Patios.
2
Holgate Ten4065 SE Holgate Blvd, Portland, OR 97202
Avg $1.62RSF 6,448Occupancy 95%Units 10Year Built 1966
# Units Unit Type Avg Rent10 One Bedroom $1,195
NotesUnits in above average interior condition though not fully renovated. Recently painted exterior. Rent is$1195/month, water/sewer $45/month, Dog is $25/month/dog, Cat is $15/month/cat
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RENT COMPARABLESPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
3
4202 SE 58th Avenue4202 SE 58th Avenue, Portland, OR 97206
Avg $1.59RSF 9,812Occupancy 100%Units 12Year Built 1973
# Units Unit Type Avg Rent12 Two Bedroom $1,300
4
Henry 155213-5331 SE Henry Street, Portland, OR 97206
Avg $1.63RSF 11,060Occupancy 100%Units 15Year Built 1966
# Units Unit Type Avg Rent13 Two Bedroom $1,1952 Three Bedroom $1,275
NotesWater Bill back. W&D hookups.
5
The Arletta5214 SE 72nd Avenue, Portland, OR 97206
Avg $1.74RSF 38,824Occupancy 95%Units 68Year Built 1972
# Units Unit Type Avg Rent12 Two Bedroom $1,47556 One Bedroom $1,165
NotesW&D in Unit.
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RENT COMPARABLESPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
6
Triangle Terrace5625 SE Gladstone, Portland, OR 97206
Avg $1.77RSF 8,208Occupancy 95%Units 14Year Built 1972
# Units Unit Type Avg Rent4 Two Bedroom $1,39510 One Bedroom $1,095
Notes$75 Bill back. On-site Laundry. Full renovation 2008.
7
Rose Place Apartments7424-7434 SE Henry St, Portland, OR 97206
Avg $1.49RSF 10,368Occupancy 95%Units 14Year Built 1961
# Units Unit Type Avg Rent10 Two Bedroom $1,2504 One Bedroom $900
NotesOn-site Laundry. No Parking.
8
7123 SE Powell7123 SE Powell Blvd, Portland, OR 97206
Avg $2.00RSF 21,208Occupancy 100%Units 30Year Built 1972
# Units Unit Type Avg Rent14 One Bedroom $1,050
NotesWasher/Dryer Hookup
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RENT COMPARABLESPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
9
7010 SE Rhone Street7010 SE Rhone Street, Portland, OR 97206
Avg $1.66RSF 2,880Occupancy 100%Units 5Year Built 1960
# Units Unit Type Avg Rent4 Two Bedroom $1,245
A
5912 SE Gladstone St5912 SE Gladstone St, Portland, OR 97206
Avg $1.30RSF 4,500Occupancy 95%Units 5Year Built 1974
# Units Unit Type Avg Rent2 One Bedroom $9753 Two Bedroom $1,262
B
2758 SE 52nd Ave2758 SE 52nd Avenue, Portland, OR 97206
Avg $0.00RSF 28,684Occupancy 100%Units 25Year Built 1948
# Units Unit Type Avg Rent25 Two Bedroom $1,350
Notes$75 Utility Charge
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RENT COMPARABLESPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
C
Chelsea Manor4039 SE Holgate Blvd, Portland, OR 97202
Avg $1.36RSF 15,148Occupancy 95%Units 20Year Built 1977
# Units Unit Type Avg Rent2 One Bedroom $98518 Two Bedroom $1,195
NotesOff Street Parking. Well Maintained.
D
Cedar Breaks Apartments4032 SE Holgate Blvd, Portland, OR 97202
Avg $1.68RSF 6,406Occupancy 95%Units 10Year Built 1973
# Units Unit Type Avg Rent8 Two Bedroom $1,3952 Two Bedroom $1,345
3454 SE Cora Dr3454 SE Cora Dr, Portland, OR 97202
Avg $1.26RSF 6,420Occupancy 95%Units 6Year Built 1972
# Units Unit Type Avg Rent1 One Bedroom $9953 Two Bedroom $1,4502 Two Bedroom $1,625
Notes$50 per month for water/sewer. Large Units. Similar Location.
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RENT COMPARABLESPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
F
3420 SE 58th Ave,3420 SE 58th Avenue, Portland, OR 97206
Avg $1.66RSF 6,240Occupancy 100%Units 8Year Built 1970
# Units Unit Type Avg Rent8 Two Bedroom $1,295
Notes$50 Utility Charge. Single Level Courtyard Style 4-Plex Buildings.
G
3408 SE 55th Ave3408 SE 55th Avenue, Portland, OR 97206
Avg $0.00RSF 3,206Occupancy 100%Units 5Year Built 1950
# Units Unit Type Avg Rent5 One Bedroom $1,195
NotesSingle Level 5 Unit Building. Similar Neighborhood. Pets: $25 a mo rent each (1 pet max under 35lbs each)
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RENT COMPARABLESPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
S 5235 Southeast Lambert StreetPortland, OR, 97206 1 5806-5810 SE Ogden St
Portland, OR, 97206 2 4065 SE Holgate BlvdPortland, OR, 97202
3 4202 SE 58th AvenuePortland, OR, 97206 4 5213-5331 SE Henry Street
Portland, OR, 97206 5 5214 SE 72nd AvenuePortland, OR, 97206
6 5625 SE GladstonePortland, OR, 97206 7 7424-7434 SE Henry St
Portland, OR, 97206 8 7123 SE Powell BlvdPortland, OR, 97206
9 7010 SE Rhone StreetPortland, OR, 97206 A 5912 SE Gladstone St
Portland, OR, 97206 B 2758 SE 52nd AvenuePortland, OR, 97206
C 4039 SE Holgate BlvdPortland, OR, 97202 D 4032 SE Holgate Blvd
Portland, OR, 97202 E 3454 SE Cora DrPortland, OR, 97202
F 3420 SE 58th AvenuePortland, OR, 97206 G 3408 SE 55th Avenue
Portland, OR, 97206
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RECENT SALE COMPARABLESPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
Subject 1 2 3 4 5
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
Avg.5.146
Cap Rate
Subject 2 3 4 5
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
20.0
Avg.12.875
Gross Rent Multiplier
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RECENT SALE COMPARABLESPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
Subject 1 2 3 4 5
$21,000
$42,000
$63,000
$84,000
$105,000
$126,000
$147,000
$168,000
$189,000
$210,000
Avg.$159,170
Price per Unit
Subject 1 2 3 4 5
$28
$56
$84
$112
$140
$168
$196
$224
$252
$280
Avg.$200.85
Price per Sq. Ft.
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RECENT SALE COMPARABLESPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
S
Pacific Crest Apartments5235 Southeast Lambert Street, Portland, OR 97206
Sale Price $2,600,000Units 16Price / Unit $162,500Price/SqFt $211.38Lot Size 21,450Cap Rate 5.68%GRM 11.77Year Built 1966
# Units Unit Type7 1+11 1+1(A)
8 2+1
NotesSealed and Re-striped Parking Lot, New Roof, and Vinyl Windows. Units recently renovated withAppliances, Flooring, Fixtures, Cabinets, and Countertops. On-site Laundry.
1
Cedar Breaks Apartments4032 SE Holgate Blvd, Portland, OR 97202
Sale Price $1,775,000Units 10Price / Unit $177,500Price/SqFt $277.08Lot Size 9,990Cap Rate 6.1%Year Built 1973Sale Date 4/7/2017Days-On- 270
# Units Unit Type8 2 Bedroom / 1 Bath2 2 Bedroom / 2 Bath
Holgate Ten4065 SE Holgate Blvd, Portland, OR 97202
Sale Price $1,400,000Units 10Price / Unit $140,000Price/SqFt $217.12Lot Size 9,500Cap Rate 4.31%GRM 14.0Year Built 1966Sale Date 7/12/2017
# Units Unit Type10 1 Bedroom / 1 Bath
NotesUnits in above average interior condition though not fully renovated. Recently painted exterior. Rent is$1195/month, water/sewer $45/month, Dog is $25/month/dog, Cat is $15/month/cat
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RECENT SALE COMPARABLESPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
3
Ridgewood Apartments5806-5810 SE Ogden St, Portland, OR 97206
Sale Price $2,010,000Units 15Price / Unit $134,000Price/SqFt $163.39Lot Size 39,564Cap Rate 5.61%GRM 11.6Year Built 1972Sale Date 1/11/2018
# Units Unit Type14 2 Bedroom / 1 Bath
1 2 Bedroom / 2 Bath
NotesSome new appliances and flooring. W&D Hookups. Decks/Patios.
4
5912 SE Gladstone St5912 SE Gladstone St, Portland, OR 97206
Sale Price $703,000Units 5Price / Unit $140,600Price/SqFt $156.22Lot Size 8,000Cap Rate 5.41%GRM 11.1Year Built 1974Sale Date 7/30/2018
# Units Unit Type2 1 Bedroom / 1 Bath3 2 Bedroom / 1 Bath
5
3454 SE Cora Dr3454 SE Cora Dr, Portland, OR 97202
Sale Price $1,222,500Units 6Price / Unit $203,750Price/SqFt $190.42Lot Size 12,400Cap Rate 4.3%GRM 14.8Year Built 1972Sale Date 3/30/2018Days-On- 98
# Units Unit Type1 1 Bedroom / 1 Bath3 2 Bedroom / 1 Bath2 2 Bedroom / 2 Bath
Notes$50 per month for water/sewer. Large Units. Similar Location.
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RECENT SALE COMPARABLESPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
S 5235 Southeast Lambert StreetPortland, OR, 97206$2,600,000
1 4032 SE Holgate BlvdPortland, OR, 97202$1,775,000
2 4065 SE Holgate BlvdPortland, OR, 97202$1,400,000
3 5806-5810 SE Ogden StPortland, OR, 97206$2,010,000
4 5912 SE Gladstone StPortland, OR, 97206$703,000
5 3454 SE Cora DrPortland, OR, 97202$1,222,500
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IN ESCROW COMPARABLESPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
Subject 1
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
Avg.4.87
Cap Rate
Subject 1
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
20.0
Avg.14.1
Gross Rent Multiplier
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IN ESCROW COMPARABLESPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
Subject 1
$19,000
$38,000
$57,000
$76,000
$95,000
$114,000
$133,000
$152,000
$171,000
$190,000Avg.$180,00
Price per Unit
Subject 1
$24
$48
$72
$96
$120
$144
$168
$192
$216
$240 Avg.$237.66
Price per Sq. Ft.
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IN ESCROW COMPARABLESPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
S
Pacific Crest Apartments5235 Southeast Lambert Street, Portland, OR 97206
Sale Price $2,600,000Units 16Price / Unit $162,500Price/SqFt $211.38Lot Size 21,450Cap Rate 5.68%GRM 11.77Year Built 1966
# Units Unit Type7 1+11 1+1(A)
8 2+1
NotesSealed and Re-striped Parking Lot, New Roof, and Vinyl Windows. Units recently renovated withAppliances, Flooring, Fixtures, Cabinets, and Countertops. On-site Laundry.
1
Chelsea Manor4039 SE Holgate Blvd, Portland, OR 97202
Asking Price $3,600,000Units 20Price / Unit $180,000Price/SqFt $237.66Lot Size 19,945Cap Rate 4.87%GRM 14.1Year Built 1977Sale Date In EscrowDays-On- 8
# Units Unit Type2 1 Bedroom / 1 Bath
18 2 Bedroom / 1 Bath
NotesOff Street Parking. Well Maintained.
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IN ESCROW COMPARABLESPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
S 5235 Southeast Lambert StreetPortland, OR, 97206$2,600,000
1 4039 SE Holgate BlvdPortland, OR, 97202$3,600,000
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Demographics
SEC
TIO
N V
I
DEMOGRAPHICSPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
Population 1 Mile 3 Mile 5 Mile
Male 9,847 76,174 198,816
Female 10,080 78,623 205,911
Total Population 19,927 154,797 404,727
Age Breakdown 1 Mile 3 Mile 5 Mile
Ages 0-4 1,029 8,122 20,540
Ages 5-9 1,295 9,924 24,741
Ages 10-14 1,216 8,915 22,351
Ages 15-19 1,190 8,478 21,713
Ages 20-24 1,224 8,780 22,361
Ages 25-29 1,199 9,353 23,961
Ages 30-34 1,232 10,189 26,432
Ages 35-39 1,269 11,271 29,357
Ages 40-44 1,415 12,147 31,373
Ages 45-49 1,560 12,468 32,106
Ages 50-54 1,560 11,933 31,209
Ages 55-59 1,477 11,052 29,389
Ages 60-64 1,256 9,418 25,710
Ages 65-69 986 7,443 20,630
Ages 70-74 722 5,381 15,029
Ages 75-79 475 3,584 10,228
Ages 80-84 310 2,218 6,485
Ages 85+ 512 4,121 11,112
Household Income 1 Mile 3 Mile 5 Mile
Median $52,760 $45,700 $49,831
< $10000 389 4,535 13,360
$10000-$14999 347 4,015 9,960
$15000-$19999 312 3,358 8,607
$20000-$24999 433 3,715 9,262
$25000-$29999 368 3,299 8,783
$30000-$34999 431 3,897 8,984
$35000-$39999 418 3,807 8,377
$40000-$44999 354 3,552 8,792
$45000-$49999 414 3,062 7,943
$50000-$60000 870 5,721 14,633
$60000-$74000 1,097 7,579 18,676
$75000-$99999 1,041 8,126 21,266
$100000-$124999 444 4,206 12,575
$125000-$149999 306 1,884 6,411
$150000-$199999 288 1,800 6,180
> $200000 272 1,319 6,317
Housing 1 Mile 3 Mile 5 Mile
Total Units 8,549 71,095 187,062
Occupied 8,108 67,388 175,844
Owner Occupied 5,997 37,708 94,934
Renter Occupied 2,111 29,680 80,910
Vacant 441 3,707 11,218
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DEMOGRAPHICSPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
Population 1 Mile 3 Mile 5 Mile
Male 9,847 (49.42 %) 76,174 (49.21 %) 198,816 (49.12 %)
Population Non Hispanic White 17,773 130,895 345,147
Population Black 136 2,567 7,833
Population Am In/Ak Nat 61 444 1,014
Housing 1 Mile 3 Mile 5 Mile
Housing Units 8,549 71,095 187,062
Occupied Units 8,108 67,388 175,844
Owner Occupied Units 5,997 37,708 94,934
Renter Occupied Units 2,111 29,680 80,910
Vacant Units 441 3,707 11,218
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DEMOGRAPHICSPacific Crest Apartments5235 Southeast Lambert Street | Portland, OR 97206
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or otherprofessional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax orother professional area before making any decisions.
The information in this document has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty, or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs
