10985 Burnside StPortland, OR 97216

Property Details for 10985 Burnside St

Year built

2023

Property size (Sq ft)

12,705 SF

Property type

Residential income homes

Property subtype

Apartment buildings

Description

This exceptional new construction multifamily property, located at 10985 E Burnside St, Portland, OR 97216, presents a compelling investment opportunity. The 2023-built, three-story building comprises 29 studio apartments, totaling 12,705 square feet of net rentable space. Each unit boasts modern, designer finishes, including stainless steel appliances and in-unit washer/dryer hookups. Central air conditioning and indoor bike storage are also included. The property benefits from a 15-year rent control exemption and a builder's warranty, minimizing potential risks and maximizing long-term value. Situated in the desirable Hazelwood neighborhood, this complex enjoys a 91 Bikescore, reflecting its excellent proximity to amenities such as Mall 205, Adventist Health, public transportation, numerous parks, schools, and easy freeway access. The property's strong financial performance is evident in its 6.39% cap rate and a substantial net operating income (NOI) of $255,760, with an asking price of $3,999,900. This translates to a price per unit of $137,927.59 and a price per square foot of $314.83. The low-maintenance nature of this turnkey investment makes it an attractive option for discerning investors seeking a high-return, modern multifamily asset in a thriving Portland neighborhood.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5228

Longitude

-122.55

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

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.

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 unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].