Green Seed Apartments | 16111 E Burnside St
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Green Seed Apartments 16111 E Burnside St
31 Unit Apartment Building $10,535,100 CAD ($339,842 CAD/Unit) 3.94% Cap Rate Portland, OR 97233
Investment Highlights
- The only Carbon Neutral apartment complex in the region
- Individual locking storage spaces
- Geothermal Heating and Cooling & Solar Power generation
- Generous common areas to encourage resident interaction
- Rainwater Harvesting System
- High efficiency construction methods
Executive Summary
Green Seed is a 31-unit apartment complex that was built in 2022. It is the only carbon-neutral apartment complex in the Pacific Northwest. The apartments are designed to be energy-efficient, with features such as solar panels and water-saving appliances. Apartments range in size from 313 square feet to 511 square feet including studio and one bedroom apartments. The apartments are highly energy efficient and are focused on affordability, community building, and offer desperately needed workforce housing adjacent to a Max light rail station.
The property has a number of amenities, including a rainwater harvesting system, community raised bed gardening area, onsite parking, two ground floor commercial spaces, and a 1,741 square foot space in the daylight basement that could be office, treatment counseling, or shelter space that could serve residents and the greater community. In addition, there is also a community room that can be used for resident events and gatherings.
The property has a number of amenities, including a rainwater harvesting system, community raised bed gardening area, onsite parking, two ground floor commercial spaces, and a 1,741 square foot space in the daylight basement that could be office, treatment counseling, or shelter space that could serve residents and the greater community. In addition, there is also a community room that can be used for resident events and gatherings.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $10,535,100 CAD | Apartment Style | Low Rise |
| Price Per Unit | $339,842 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.51 AC |
| Cap Rate | 3.94% | Building Size | 25,000 SF |
| No. Units | 31 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2021 |
| Property Subtype | Apartment | Parking Ratio | 0.64/1,000 SF |
| Price | $10,535,100 CAD |
| Price Per Unit | $339,842 CAD |
| Sale Type | Investment |
| Cap Rate | 3.94% |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.51 AC |
| Building Size | 25,000 SF |
| No. Stories | 3 |
| Year Built | 2021 |
| Parking Ratio | 0.64/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Deck
- Garden
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Gated
- Storage Space
- Bicycle Storage
- Car Charging Station
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 31 | $1,615 CAD | 313 - 511 |
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Bike Score ®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | R217908 | Total Assessment | $4,125,223 CAD (2023) |
| Land Assessment | $0 CAD (2023) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $0 CAD (2023) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
R217908
Land Assessment
$0 CAD (2023)
Improvements Assessment
$0 CAD (2023)
Total Assessment
$4,125,223 CAD (2023)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024 Payable 2024
zoning
| Zoning Code | NC |
| NC |
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Green Seed Apartments | 16111 E Burnside St
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