This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Berna Court 10746 NE Wygant St

12 Unit Block of Flats £1,322,341 (£110,195/Unit) 6.65% Net Initial Yield Portland, OR 97220

Investment Highlights

  • Located within the up-and-coming Parkrose neighborhood of NE Portland
  • Significant capital improvements in recent years
  • Easy access to both urban and suburban amenities, strong public transit options
  • Classic Single-Level living in a residential setting
  • Operational value-add opportunity, with immediate upside in the rents

Executive Summary

The Berna Court Apartments is a peaceful 12-unit apartment community located in the up-and-coming Parkrose neighborhood of Northeast Portland, and edges up to the well-established Maywood Park neighborhood. The property consists of unique single-level apartments for a higher quality of living and renter demand in today’s market and is comprised of all 2br/1ba floor plans. The majority of units have been renovated in recent years. The property has undergone extensive capital improvements over the past few years on major capex items, providing an opportunity to step into a sound and quality asset day 1. Improvements include new roofing, new exterior paint, new Siding (partial), all new electrical panels, new electric meter bank/grounding with new wiring to panels, new garbage enclosure, extensive unit renovations, and various other hands-on projects over the years. The property also benefits from energy efficient vinyl windows, along with many other historical improvements and repairs that will benefit an investor long-term due to the current ownerships hands on approach.
Berna Court sits uniquely within a residential setting in the Parkrose Neighborhood (but also borders the Maywood Park neighborhood as well). The Parkrose neighborhood offers a diverse mix of single-family homes, apartments, and nearby commercial amenities. The neighborhood is well-served by public transportation, facilitating easy access to both downtown Portland and surrounding suburban areas. Overall, Parkrose offers a blend of suburban comfort and urban connectivity, making it an appealing and balanced place for residents to live.
Berna Court provides an investor with a well-maintained asset, with operational value add opportunity through more efficient management and operations. The current average rent in place trails the market by approximately 7 to 10%, allowing a reasonable and attainable value add approach to get the rents up to market within the first few years of ownership.

Property Facts

Price £1,322,341
Price Per Unit £110,195
Sale Type Investment
Net Initial Yield 6.65%
No. Units 12
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.45 AC
Building Size 6,615 SF
Number of Floors 1
Year Built 1942

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
2+1 12 £958.50 551
Walk Score ®
Very Walkable (74)
Bike Score ®
Very Bikeable (78)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

zoning

Zoning Code R2, Portland
R2, Portland
  • Listing ID: 33924625

  • Date on Market: 19/11/2024

  • Last Updated:

  • Address: 10746 NE Wygant St, Portland, OR 97220

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}