4620 Maryland AvePortland, OR 97217

Property Details for 4620 Maryland Ave

Year built

2018

Lot size

0.11 AC

Property size (Sq ft)

10,596 SF

Zone code

EXD

Property type

Apartment buildings

APN

1N1E22BC 04800

APU

1N1E22BC04800

Description

This exceptional 24-unit apartment building, known as The Savona, presents a compelling investment opportunity in Portland, Oregon. Built in 2018, this Class C multifamily property boasts 10,596 square feet and is situated at 4620 N Maryland Ave, Portland, OR 97217, in Multnomah County. The property features 24 one-bedroom units, each equipped with large windows, convertible living spaces, full-size washer/dryers, and recessed lighting. The asking price is $4,550,000, translating to $189,583 per unit and $437.92 per square foot. The property enjoys a current cap rate of 5.12% with a pro-forma cap rate of 5.73%, indicating strong potential for return on investment. Its prime location offers residents convenient access to numerous amenities, including the Mississippi Dining and Shopping District (0.4 miles), Adidas World Headquarters (1 mile), and the Portland Farmer's Market at PSU (2.7 miles). Furthermore, residents benefit from proximity to the Willamette River, offering river views and access. The property's location also provides easy access to Downtown Portland (4 miles) and the Portland International Airport (PDX) (13.4 miles). This stabilized, newer construction apartment building represents a rare opportunity to acquire a well-maintained asset in a thriving Portland neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $3,608,769

  6.5%

  $3,331,171

  7%

  $3,093,230

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,162,896

  Geo Method

  $3,162,896

• Alternative Use

  Use

  Valuation

  Residential

  $3,331,171

  Hospitality

  $3,051,335

  Educational

  $2,538,675

  Medical

  $2,625,984

  Retail

  $3,949,050

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5563

Longitude

-122.681

CBSA code

38900

CBSA name

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

Property Tax & Assessments

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