For Sale
$12,500,000

1311 Gibbs St Portland, OR 97239

Luxury Portland apartment building, high cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
127
This exceptional Class A, 43-unit apartment building presents a compelling investment opportunity in Portland, Oregon's desirable Marquam Hill neighborhood. Completed in 2024, the property boasts 42,151 square feet of gross building area situated on a 23,500 square foot lot. The unit mix includes studios, one-bedroom, and two-bedroom apartments, offering a diverse range of living spaces. The building features 28 covered parking spaces and attractive amenities such as a secured entry and an exterior sundeck. Priced at $12,500,000 ($290,698 per unit), this property offers a strong 5.41% capitalization rate. Its prime location offers convenient access to Oregon Health & Science University (OHSU), the Under Armour Portland campus, downtown Portland, and Portland State University, ensuring high occupancy rates in a supply-constrained submarket. Select units enjoy beautiful views. The thoughtfully designed floor plans maximize space and natural light. This is a truly exceptional multifamily investment opportunity in a thriving urban setting.

Highlights

  • Exceptional location near OHSU, Under Armour, downtown Portland, and Portland State University.
  • Supply-constrained submarket with high occupancy potential.
  • Select units offer beautiful views.
  • Efficient floor plans maximize space and natural light.
  • Building amenities include secured entry, exterior sundeck, and 28 covered parking spaces.
  • 43-unit Class A apartment building (42,151 sq ft) on a 23,500 sq ft lot, completed in 2024.

Property Details for 1311 Gibbs St

Property type
Apartment buildings
Square Feet
42,151 SF
Class
A
Year Built
2024
Units
43

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.499155868881
Longitude
-122.69363485601
1311 Gibbs St, Portland, Oregon

FAQs

What type of property is this?
Apartment building - Luxury Portland apartment building, high cap rate.
Where is the apartment building located?
The property is located at 1311 Gibbs St Portland, OR.
What is the asking price?
The asking price for this property is $12,500,000.
What are key features of this property?
This property features: Exceptional location near OHSU, Under Armour, downtown Portland, and Portland State University.; Supply-constrained submarket with high occupancy potential.; Select units offer beautiful views.
How can I contact the broker?
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1311 Gibbs St
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