11940 Se Ash St, Portland, Or 97216Portland, OR 97216Price: $2,065,000

Price: $2,065,000
Est. Mortgage of $/month
105 Days on Market

The Ash Street Apartments represent a unique opportunity to acquire a centrally located asset in the well performing Hazelwood neighborhood of Southeast Portland. The property was built in 2009, and is comprised of 12 large 2br/1ba units each at approximately 860 sq. ft. All units feature open floor plans with modern finishes, large kitchens, and full-size washer/dryer hook ups located in a dedicated laundry room. The property has operated with historically low vacancy, and the SE Portland sub-market continues to show stability for 2br/1ba floor plans (with a vacancy average of 4.4% reported in the Spring of 2023). The property has been well cared for, with extensive capital improvements & unit upgrades in recent years, but still presents an owner with a significant value add opportunity on the operations side by raising rents to market levels. The current average in place rent is approximately 15% below market, providing an owner with a realistic path to work up to market rents over the first few years of ownership. A rare opportunity to acquire a newer vintage, pride of ownership property, with operational value add.

"Based on information submitted to OR_RMLS_API as of October 4, 2023 8:47 AM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing."

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Message I would like more information for 11940 Se Ash St, Portland, Or 97216 Portland OR 97216 (ID#:23142727)

11940 Se Ash St, Portland, Or 97216Portland, OR 97216Price: $2,065,000

$/month over payments

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Juli Whelchel

11940 Se Ash St, Portland, Or 97216Portland, OR 97216Price: $2,065,000

$/month over payments

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