6115 Multnomah StPortland, OR 97213

Property Details for 6115 Multnomah St

Year built

2023

Property size (Sq ft)

7,497 SF

Property type

Residential income homes

Property subtype

Dormitories

Description

This exceptional investment opportunity presents a newly constructed 15-unit apartment building in Portland, Oregon's desirable Rose City Park neighborhood. Located near the Hollywood district, Laurelhurst, and Providence Medical Center, this property offers unparalleled convenience and accessibility. The building boasts 7,497 square feet, encompassing three stories and fifteen spacious one-bedroom units, each featuring high-end finishes such as custom cabinetry, stainless steel appliances, in-unit laundry, and air conditioning. Many units include covered patios or balconies. Additional amenities include bike storage with electrical hookups and an enclosed trash area. The property benefits from a 1-year builder warranty and a 15-year new construction rent-control exemption. With a pro-forma NOI of $182,055 and a pro-forma cap rate of 6.62%, this property presents a strong return on investment. The asking price is $2,749,900, or $183,327 per unit, and the price per square foot is $366.80. This is a turnkey investment ready for immediate income generation. The property is situated at 6115 NE Multnomah St, Portland, OR 97213. A virtual tour is available online.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5319

Longitude

-122.601

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