6040 Belmont StPortland, OR 97215

Property Details for 6040 Belmont St

Year built

1970

Lot size

0.91 AC

Zone code

R2

Property type

Assisted living facilities

Property subtype

Retirement homes

APN

1S2E06AA 01600

APU

1S2E06AA01600

Description

This exceptional Portland investment property, located at 6040 SE Belmont St, offers a compelling blend of income generation and value-add potential. The 131,640 square foot building sits on a 3.77-acre lot encompassing two parcels. The main parcel houses a multi-tenant complex anchored by Marquis Mt. Tabor, a regional senior care provider with 30 locations, currently occupying a significant portion of the space. Additional office and creative office tenants contribute to the property's strong occupancy rate of 84.35%. The property boasts a substantial net operating income (NOI) of $640,406, translating to a 4.20% cap rate and a price per square foot of $115.85. Built in 1922, the Class B building is zoned RM1, presenting opportunities for future development or expansion. The second parcel, a separate lot across the street, offers additional development potential. This property presents a rare opportunity to acquire a well-located, income-producing asset with significant upside through lease-up, rent increases, and potential redevelopment of underutilized space. The asking price is $15,250,000. This investment is ideal for those seeking a value-add opportunity in a thriving Portland market.

• CAP approach

  CAP return

  Valuation

  6%

  $10,680,140

  6.5%

  $9,858,591

  7%

  $9,154,406

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,809,957

  Geo Method

  $8,809,957

• Alternative Use

  Use

  Valuation

  Residential

  $12,506,039

  Hospitality

  $11,455,464

  Educational

  $9,530,812

  Medical

  $9,858,591

  Retail

  $14,825,707

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5172

Longitude

-122.601

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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