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Union Arms Apartments 131 NE Martin Luther King Jr Blvd

42 Unit Block of Flats £4,459,965 (£106,190/Unit) 5.51% Net Initial Yield Portland, OR 97232

Investment Highlights

  • Great Mix of Studio & 1 BR Apts!
  • Charming Buildings with Vintage Appeal
  • Desirable Kerns Neighborhood, Very Bike Friendly!
  • Walking Distance to Restaurants, Night Life & Employment

Executive Summary

8,000 SF Corner Tax Lot at the corner of NE MLK & NE Davis;
In the Middle of the Burnside Bridgehead Project;
*Great Re-Development or Affordable Housing Play;
* Zoned EX Central Employment, Allows for a Variety of Uses;
* OPPORTUNITY ZONE;

Attachments

Union Arms Apartments - Marketing Package

Property Facts

Price £4,459,965 Building Class C
Price Per Unit £106,190 Lot Size 0.18 AC
Sale Type Investment Building Size 22,874 SF
Net Initial Yield 5.51% Number of Floors 3
No. Units 42 Year Built 1908
Property Type Residential Cross Streets ne davis street
Property Subtype Apartment Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style Low Rise
Price £4,459,965
Price Per Unit £106,190
Sale Type Investment
Net Initial Yield 5.51%
No. Units 42
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.18 AC
Building Size 22,874 SF
Number of Floors 3
Year Built 1908
Cross Streets ne davis street
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Amenities

  • Heating
  • Ceiling Fans
  • Kitchen
  • Tub/Shower
  • Window Coverings

Site Amenities

  • 24 Hour Access
  • Laundry Facilities
  • Property Manager on Site
  • Online Services
  • Smoke Detector

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
Studios 37 - 408
1+1 5 - 500
1 of 1
Walk Score ®
Very Walkable (80)
Transit Score ®
Excellent Transit (84)
Bike Score ®
Biker's Paradise (98)
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.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number R150029 Improvements Assessment £0
Land Assessment £0 Total Assessment £952,375

PROPERTY TAXES

Parcel Number
R150029
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£952,375

zoning

Zoning Code EXD
EXD
(503) 222-2346

  • Listing ID: 32391710

  • Date on Market: 09/07/2024

  • Last Updated:

  • Address: 131 NE Martin Luther King Jr Blvd, Portland, OR 97232

The Lloyd District Residential Property at 131 NE Martin Luther King Jr Blvd, Portland, OR 97232 is currently available. Contact Apartments Northwest LLC for more information.

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Union Arms Apartments | 131 NE Martin Luther King Jr Blvd
(503) 222-2346 x

Union Arms Apartments | 131 NE Martin Luther King Jr Blvd

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Jarrett Gray

(503) 222-2346

(503) 222-2346

Tim Gray

(503) 890-2021

(503) 890-2021

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