For Sale
$3,999,900

232 61St Ave Portland, OR 97213

New construction, fully leased, high ROI.

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional 15-unit apartment building, completed in 2024, presents a compelling investment opportunity. Located in Portland, Oregon's desirable North Tabor neighborhood (97213), this property boasts 12,240 square feet on a lot ranging from 5,000 to 6,999 square feet. The three-story building features a mix of nine two-bedroom/one-bathroom and six one-bedroom/one-bathroom units, totaling 24 beds. High-end finishes throughout include custom cabinetry, stainless steel appliances, and stackable washer/dryers. Building amenities include indoor bike storage and an enclosed trash area. The property is currently fully leased, generating a Net Operating Income (NOI) of $217,993 and a 5.45% cap rate. The asking price is $3,999,900, translating to $326.79 per square foot and $266,660 per unit. A one-year builder warranty and a 15-year new construction rent-control exemption provide additional peace of mind. This property offers a strong, diversified investment portfolio with significant potential for long-term growth in a highly sought-after location. Virtual tours of select units are available online.

Highlights

  • 15 brand-new units.
  • Nine 2-bedroom/1-bathroom units and six 1-bedroom/1-bathroom units.
  • Prime North Tabor location in Northeast Portland.
  • High-end finishes, tall ceilings, open floor plans, and abundant natural light.
  • Includes indoor bike storage and an enclosed trash area.
  • Unit mix diversifies investment opportunities.

Property Details for 232 61St Ave

Property type
Residential income homes, Dormitories
Square Feet
12,240 SF
Year Built
2024
Buildings
1
Stories
3
Units
15

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.5247807
Longitude
-122.6006401

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FAQs

What type of property is this?
Residential income home - New construction, fully leased, high ROI.
Where is the residential income home located?
The property is located at 232 61St Ave Portland, OR.
What is the asking price?
The asking price for this property is $3,999,900.
What are key features of this property?
This property features: 15 brand-new units.; Nine 2-bedroom/1-bathroom units and six 1-bedroom/1-bathroom units.; Prime North Tabor location in Northeast Portland.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
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Contacts

Darryl Bodle
Darryl Bodle
Visit Broker Website

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61St Ave
Portland, OR 97213

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61St Ave
Portland, OR 97213

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

232 61St Ave
  • Darryl Bodle
    Darryl Bodle
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