5704 Beaverton Hillsdale Hwy Portland, OR 97221

This exceptional 17-unit apartment complex, located in Southwest Portland at 5704 & 5636-5648 SW Beaverton Hillsdale Hwy, presents a compelling value-add investment opportunity. The property, situated on a 0.82-acre lot, boasts 11,750 square feet of net rentable space across three buildings, each two stories high. Built in 1974 and 1978, the complex comprises a mix of one and two-bedroom units, many featuring territorial views and private decks or patios. Approximately half of the units have undergone recent updates. Recent improvements include new gutters and a freshly striped parking lot providing ample parking for residents and guests. The property benefits from a prime location between Raleigh Hills and Hillsdale, two highly desirable neighborhoods. Convenience is key, with a grocery store, pharmacy, coffee shop, and several restaurants within a block, and the Portland Athletic Club directly across the street. Excellent access to public transportation ensures easy commutes to downtown Portland and Beaverton. The property's current NOI is $160,602, with a pro-forma NOI of $176,490, yielding a current cap rate of 5.44% and a pro-forma cap rate of 5.98%. The asking price is $2,950,000, translating to a price per unit of $173,529.41 and a price per square foot of $251.06. On-site laundry adds to the property's appeal. The property is zoned RM2. This park-like setting offers a quiet residential experience with significant upside potential for rental income.