1311 Gibbs StPortland, OR 97239

Property Details for 1311 Gibbs St

Year built

2022

Lot size

0.54 AC

Property size (Sq ft)

42,151 SF

Property type

Apartment buildings

APN

1S1E09BD 02801

APU

1S1E09BD02801

Description

This exceptional Class A, 43-unit apartment building presents a compelling investment opportunity in Portland, Oregon's desirable Marquam Hill neighborhood. Completed in 2024, the property boasts 42,151 square feet of gross building area situated on a 23,500 square foot lot. The unit mix includes studios, one-bedroom, and two-bedroom apartments, offering a diverse range of living spaces. The building features 28 covered parking spaces and attractive amenities such as a secured entry and an exterior sundeck. Priced at $12,500,000 ($290,698 per unit), this property offers a strong 5.41% capitalization rate. Its prime location offers convenient access to Oregon Health & Science University (OHSU), the Under Armour Portland campus, downtown Portland, and Portland State University, ensuring high occupancy rates in a supply-constrained submarket. Select units enjoy beautiful views. The thoughtfully designed floor plans maximize space and natural light. This is a truly exceptional multifamily investment opportunity in a thriving urban setting.

• CAP approach

  CAP return

  Valuation

  6%

  $10,361,675

  6.5%

  $9,564,624

  7%

  $8,881,436

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,385,166

  Geo Method

  $12,582,031

• Alternative Use

  Use

  Valuation

  Residential

  $9,564,624

  Hospitality

  $8,761,144

  Educational

  $7,289,168

  Medical

  $7,539,854

  Retail

  $11,338,707

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.4994

Longitude

-122.694

CBSA code

38900

CBSA name

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

Property Tax & Assessments

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