• Broker Grayson Pounder 5036804638

5109 NE Killingsworth St 19 Unit Apartment Building $5,809,902 CAD ($305,784 CAD/Unit) 4.60% Cap Rate Portland, OR 97218

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INVESTMENT HIGHLIGHTS

  • Additional 18 unit can be added, shovel ready!
  • All Architectural Plans completed
  • Long history of high occupancy

EXECUTIVE SUMMARY

Prime Investment Opportunity in Portland, 37 Unit Potential. 19 existing units and permit ready to build 18 more.
Opportunity to own a high-performing 19-unit apartment community with significant value-add potential in Portland’s thriving rental market. 5109 NE Killingsworth Street benefits from a consistent history of high occupancy, ensuring strong and stable cash flow for investors.
This turnkey asset includes vacant land and permit-ready plans for an 18-unit expansion, allowing for immediate growth and increased rental income. Located in a high-demand rental corridor, the property is ideally positioned to capitalize on Portland’s strong housing market.

ATTACHMENTS

CullyParkApartments brochure

FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access

ANNUAL (CAD) ANNUAL PER SF (CAD)
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
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

PROPERTY FACTS

Price $5,809,902 CAD
Price Per Unit $305,784 CAD
Sale Type Investment
Cap Rate 4.60%
Sale Condition 1031 Exchange
No. Units 19
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low-Rise
Building Class C
Lot Size 1.07 AC
Building Size 15,364 SF
Average Occupancy 100%
No. Stories 2
Year Built 1966
Parking Ratio 1.3/1,000 SF
Zoning N/Av

AMENITIES

UNIT AMENITIES

  • Kitchen
  • Refrigerator
  • Range
  • Tub/Shower

SITE AMENITIES

  • Laundry Facilities

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 3 $1,587 CAD 625 - 675
2+1 16 $1,816 CAD 750 - 775
Bike Score®
Biker's Paradise (90)

PROPERTY TAXES

Parcel Number R194241 Total Assessment $1,092,909 CAD (2023)
Land Assessment $0 CAD (2023) Annual Taxes -$1 CAD ($0.00 CAD/SF)
Improvements Assessment $0 CAD (2023) Tax Year 2024

MAP

ADDITIONAL PHOTOS

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View Photo PXL_20241115_193452856
View Photo PXL_20241115_193358404
View Photo PXL_20241115_193730159
View Photo PXL_20241115_193301385
View Photo Building Photo
View Photo Plat Map

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