16927 Glisan StPortland, OR 97230

Property Details for 16927 Glisan St

Year built

1978

Lot size

0.64 AC

Property size (Sq ft)

6,384 SF

Property type

Apartment buildings

Description

This stabilized, six-unit apartment building in Portland, Oregon, presents a compelling investment opportunity. Located at 16927 NE Glisan St, 97230, this Class C property boasts 6,384 square feet across three buildings on a 0.64-acre lot. Built in 1978, the property currently enjoys 100% occupancy, generating a Net Operating Income (NOI) of $59,730, resulting in a 5.97% cap rate. A pro-forma NOI of $68,650 projects a 6.86% cap rate. The property includes nine parking spaces, a significant amenity for tenants. Each of the six units is priced at $166,667, contributing to the overall asking price of $1,000,000. The property's garden-style design and serene setting create an attractive living environment, enhancing its appeal to renters and promising strong returns for investors. The property's strong occupancy and potential for increased NOI make it an attractive addition to any investment portfolio. This is a rare opportunity to acquire a well-maintained multifamily property in a desirable Portland location.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5264

Longitude

-122.488

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