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Jared Hambrook

jaredh@legacyre.com +1(503) 930-2124

Listed by RealtyNET, LLC

$ 1,550,000

Est. payment -/mo

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Pending

11445 SW GREENBURG RD Portland, OR 97223

7,272 SqFt

UPDATED:

08/03/2024 11:45 AM

Key Details

Property Type Multi-Family

Listing Status Pending

Purchase Type For Sale

Square Footage 7,272 sqft

Price per Sqft $213

Subdivision Greenburg

MLS Listing ID 24177213

Year Built 1967

Annual Tax Amount $12,112

Tax Year 2023

Lot Size 0.430 Acres

Property Description

The Greenburg Townhomes are located in the strong sub-market of Tigard, Oregon and are comprised of 8 large townhome style units. Each apartment features 2 bedrooms and 1.5 baths, spacious floor plans, off-street parking, and private back patios. Tenants benefit from a unique oversized lot of nearly half an acre, with ample green space and is located nearby.The property has operated at a historically low vacancy, which is in line with the latest average vacancy rate reported for the Tigard submarket 2BR townhome style units at 2.55% (Multi-Family NW, Fall 2023). This opportunity provides a new owner with a significant and realistic path to organically increase the revenue at lease renewals or turnovers (the average in place is approx. 10-15% below market). There is also a value-add component by implementing a RUBS system in the future, as there is not one currently in place.Excellent access to transportation, via 217, I-5, and 99W ? and along the path of progress as Tigard continues to make improvements in the surrounding areas. The property has been well maintained and provides a stable home for an investor, with a proven path to grow and get up to market rents.

Location

State OR

County Washington

Area _151

Zoning Multi

Rooms

Basement Crawl Space

Interior

Heating Baseboard

Cooling None

Exterior

Roof Type Shingle

Parking Type Open

Garage No

Building

Lot Description Level, Secluded, Trees

Story 2

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public Water

Level or Stories 2

Schools

Elementary Schools Metzger

Middle Schools Conestoga

High Schools Southridge

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Regional Multiple Listing Service (RMLS)

Jared Hambrook

Principal Broker | License ID: 201211534

+1(503) 930-2124

Jared Hambrook

11445 SW GREENBURG RD Portland, OR 97223

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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11445 SW GREENBURG RD