Gilbert Square Apartments | 13718 SE Division St
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Gilbert Square Apartments 13718 SE Division St
19 Unit Block of Flats £1,564,509 (£82,343/Unit) 7.61% Net Initial Yield Portland, OR 97236
Investment Highlights
- Separately Sub-Metered
- New Roofs, Windows & Insulation
- Close to Mass Transit
Executive Summary
Cash Flow & Opportunity! The buildings are at the lower end of the spectrum, price per door is very attractive!
Price Per Unit: $105,000
Occupancy, very solid
Don't let looks deceive you. This property is always occupied and has many long term tenants with various avenues of rent support.
All but a few units have recent upgrades which include all interior surfaces. New roofs on 3 of the buildings in 2020. Windows & insulation have been upgraded. All but 1 building have been separately sub-metered giving the financials a huge opportunity moving forward.
600 Sq. Ft. Storage Unit rent: $750
Price Per Unit: $105,000
Occupancy, very solid
Don't let looks deceive you. This property is always occupied and has many long term tenants with various avenues of rent support.
All but a few units have recent upgrades which include all interior surfaces. New roofs on 3 of the buildings in 2020. Windows & insulation have been upgraded. All but 1 building have been separately sub-metered giving the financials a huge opportunity moving forward.
600 Sq. Ft. Storage Unit rent: $750
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£179,384
|
£5.57
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£179,384
|
£5.57
|
| Taxes |
£18,622
|
£0.58
|
| Operating Expenses |
£51,642
|
£1.60
|
| Total Expenses |
£70,264
|
£2.18
|
| Net Operating Income |
£109,120
|
£3.39
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £179,384 |
| Annual Per SF | £5.57 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £179,384 |
| Annual Per SF | £5.57 |
| Taxes | |
|---|---|
| Annual | £18,622 |
| Annual Per SF | £0.58 |
| Operating Expenses | |
|---|---|
| Annual | £51,642 |
| Annual Per SF | £1.60 |
| Total Expenses | |
|---|---|
| Annual | £70,264 |
| Annual Per SF | £2.18 |
| Net Operating Income | |
|---|---|
| Annual | £109,120 |
| Annual Per SF | £3.39 |
Property Facts
Unit Amenities
- Cable Ready
- Kitchen
- High Speed Internet Access
- Tub/Shower
- Double Pane Windows
- Smoke Free
- Vinyl Flooring
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 7 | £704.21 | 425 |
| 1+1 | 11 | £821.57 | 475 |
| 2+1 | 1 | £938.94 | 565 |
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Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | R334241 | Total Assessment | £858,465 |
| Land Assessment | £0 | Annual Taxes | £18,622 (£0.58/sf) |
| Improvements Assessment | £0 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
R334241
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£858,465
Annual Taxes
£18,622 (£0.58/sf)
Tax Year
2023
zoning
| Zoning Code | SC (CM1 - Commercial mixed use RM1 - Residential multi-dwelling) |
| SC (CM1 - Commercial mixed use RM1 - Residential multi-dwelling) |
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Gilbert Square Apartments | 13718 SE Division St
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