11012 Stark StPortland, OR 97216

Property Details for 11012 Stark St

Year built

2008

Lot size

0.40 AC

Property size (Sq ft)

11,040 SF

Zone code

R1D

Property type

Apartment buildings

APN

1S2E03BA 06900

APU

1S2E03BA06900

Description

This exceptional 13-unit apartment building, known as Gables on Stark, presents a compelling investment opportunity in Portland, Oregon. Built in 2008, this Class B multifamily property boasts 17,524 square feet situated on a 0.4-acre lot (APN: 1S2E03BA 6900). Each of the 13 units offers substantial living space at 1,348 square feet, featuring two bedrooms, two and a half bathrooms, and an attached garage. The units are well-appointed with full kitchens including hard surface counters, wood-look flooring and carpeting, private decks, and washer/dryer hookups. Heating is provided by efficient forced-air furnaces. The property's strong financial performance is highlighted by a current NOI of $200,446, resulting in a 5.50% cap rate and a pro-forma cap rate of 6.17%. The asking price is $3,250,000, translating to $250,000 per unit and $185 per square foot. Located at 11012 SE Stark St, Portland, OR 97216, this property benefits from a highly convenient location, less than half a mile from I-205 and within walking distance of major employers like Home Depot and Target, as well as numerous national retailers and restaurants. The proximity to three city parks, including the 7.7-acre Floyd Light City Park, adds to the property's appeal. Current rents are below market, offering significant potential for increased revenue. The energy-efficient construction, including vinyl windows, further enhances the investment value. This property represents a rare opportunity to acquire a well-located, newer construction multifamily asset with substantial upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $3,759,986

  6.5%

  $3,470,756

  7%

  $3,222,845

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,295,429

  Geo Method

  $3,295,429

• Alternative Use

  Use

  Valuation

  Residential

  $3,470,756

  Hospitality

  $3,179,194

  Educational

  $2,645,052

  Medical

  $2,736,019

  Retail

  $4,114,525

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5186

Longitude

-122.55

CBSA code

38900

CBSA name

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

Property Tax & Assessments

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].