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Avary Apartments 6940 N Greenwich Ave

12 Unit Block of Flats £1,933,050 (£161,087/Unit) 4.86% Net Initial Yield Portland, OR 97217

Investment Highlights

  • High Quality Finishes
  • Stainless Steel Appliances
  • Large windows
  • In-unit Laundry
  • Brick Exterior
  • Close to Fred Meyer and New Seasons

Executive Summary

Quality new construction with large units!
Two 2-bedroom 1 bath units
Ten 1-bedroom 1 bath units
In-unit laundry
Stainless Steel appliances
Quartz countertops
Bike storage
Separate trash and recycling center
Heat and AC via PTAC units
Close to the Max line and easy access to Interstate 5
**Sellers are licensed brokers in Oregon and Montana

Attachments

Avary Fall 2024

Financial Summary (Pro forma - 2024)

Annual Annual Per SF
Gross Rental Income £184,153 £19.59
Other Income £7,259 £0.77
Vacancy Loss £9,208 £0.98
Effective Gross Income £182,204 £19.38
Taxes £22,554 £2.40
Operating Expenses £44,239 £4.71
Total Expenses £66,794 £7.11
Net Operating Income £115,410 £12.28

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual £184,153
Annual Per SF £19.59
Other Income
Annual £7,259
Annual Per SF £0.77
Vacancy Loss
Annual £9,208
Annual Per SF £0.98
Effective Gross Income
Annual £182,204
Annual Per SF £19.38
Taxes
Annual £22,554
Annual Per SF £2.40
Operating Expenses
Annual £44,239
Annual Per SF £4.71
Total Expenses
Annual £66,794
Annual Per SF £7.11
Net Operating Income
Annual £115,410
Annual Per SF £12.28

Property Facts

Price £1,933,050 Apartment Style Low Rise
Price Per Unit £161,087 Building Class C
Sale Type Investment Lot Size 0.11 AC
Net Initial Yield 4.86% Building Size 9,400 SF
Sale Conditions 1031 Exchange Average Occupancy 100%
No. Units 12 Number of Floors 3
Property Type Residential Year Built 2021
Property Subtype Apartment
Price £1,933,050
Price Per Unit £161,087
Sale Type Investment
Net Initial Yield 4.86%
Sale Conditions 1031 Exchange
No. Units 12
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.11 AC
Building Size 9,400 SF
Average Occupancy 100%
Number of Floors 3
Year Built 2021

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Dishwasher
  • Disposal
  • Microwave
  • Washer/Dryer
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Sprinkler System
  • Stainless Steel Appliances
  • Range
  • Double Pane Windows
  • Smoke Free
  • Window Coverings

Site Amenities

  • 24 Hour Access
  • Laundry Facilities
  • Recycling
  • Smoke Free
  • Rubbish Collection - Kerbside
  • Bicycle Storage
  • Public Transportation

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
2+1 2 £1,320 636
1+1 10 £1,180 560 - 590
1 of 1
Walk Score ®
Very Walkable (80)
Bike Score ®
Biker's Paradise (100)
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 R155860 Total Assessment £844,672 (2023)
Land Assessment £0 (2023) Annual Taxes £22,554 (£2.40/sf)
Improvements Assessment £0 (2023) Tax Year 2024

PROPERTY TAXES

Parcel Number
R155860
Land Assessment
£0 (2023)
Improvements Assessment
£0 (2023)
Total Assessment
£844,672 (2023)
Annual Taxes
£22,554 (£2.40/sf)
Tax Year
2024

zoning

Zoning Code R5 (Multi Family)
R5 (Multi Family)
(503) 349-4892

  • Listing ID: 29358241

  • Date on Market: 24/08/2023

  • Last Updated:

  • Address: 6940 N Greenwich Ave, Portland, OR 97217

The Arbor Lodge Residential Property at 6940 N Greenwich Ave, Portland, OR 97217 is currently available. Contact Russell Hosner LLC for more information.

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6940 N Greenwich Ave, Portland, OR for sale Interior Photo- Image 2 of 6
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© 2024 CoStar Group

Avary Apartments | 6940 N Greenwich Ave
(503) 349-4892 x

Avary Apartments | 6940 N Greenwich Ave

Bud Hosner

(503) 349-4892

(503) 349-4892

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