11145 NE Weidler St, Portland, OR 97220
Local realty services provided by:Columbia River Realty ERA Powered
11145 NE Weidler St,Portland, OR 97220
$7,745,000
- - Beds
- - Baths
- 34,207 sq. ft.
- Multi-family
- Active
Listed by: phillip barry, bernard gehret
Office: joseph bernard llc.503-546-9390
MLS#:23074914
Source:PORTLAND
Price summary
- Price:$7,745,000
- Price per sq. ft.:$226.42
About this home
POTENTIAL LOAN ASSUMPTION of 3.25% fixed until December 2028, for qualified buyers. The Weidler 111 Apartments represents a rare opportunity to invest in a high-quality stabilized apartment community in one of the strongest submarkets within the Portland Metro, The Gateway District of Northeast Portland. The asset is comprised of 32 spacious units, with a mix of large 2BR and 3BR floor plans. The vacancy average has been historically low, and the unit mix has proven to meet the demands of today?s renters, and will continue to be a unique housing option in the market, given the limitations and financial challenges of developing large floor plans in today?s market and moving forward. The community has benefited from major interior & exterior improvements in recent years. Exterior renovations include re-branding & signage, new paint, new outdoor BBQ/Picnic area, new basketball court, renovated leasing office, new fencing, new decking (select units), and upgraded landscaping. The majority of the interior units have been renovated (approx. 90%) with flooring, paint, appliances, cabinets (new or refinished), resurfaced countertops (select units with quartz), new fixtures, lighting, ceiling fans, and various bathroom updates. A proven model of success has been established for a new investor to finish the remaining units, and also reap the benefits of less turnover work for future lease ups. The community has experienced strong rent growth in recent years, with impressive lease up rents in 2022/2023 as tenants seek more suburban amenity rich communities and large floorplans. The average in place rents still trail the highest level in the building by approximately 10%, allowing a new investor the opportunity to step in and execute a realistic and obtainable value add model by simply getting all of the existing units up to the highest achieved level in the building....
Contact an agent
Home facts
- Year built:1973
- Listing ID #:23074914
- Added:869 day(s) ago
- Updated:January 24, 2024 at 06:29 AM
Rooms and interior
- Basement Description:Crawl Space
- Living area:34,207 sq. ft.
Heating and cooling
- Heating:Baseboard
Structure and exterior
- Roof:Composition
- Year built:1973
- Building area:34,207 sq. ft.
- Lot Features:Level
- Levels:2 Stories
Schools
- High school:Parkrose
- Middle school:Parkrose
- Elementary school:Sacramento
Utilities
- Water:Public Water
- Sewer:Public Sewer
Finances and disclosures
- Price:$7,745,000
- Price per sq. ft.:$226.42
- Tax amount:$51,077 (2023)
Parking
- Parking description:Assigned
New listings near 11145 NE Weidler St
- Open Sat, 12 to 2pmNew
$750,000Active4 beds 4 baths2,387 sq. ft.3959 NE 7th Ave, Portland, OR 97212
MLS# 113026373Listed by: CASCADE HASSON SOTHEBY'S INTERNATIONAL REALTY - New
$475,000Active4 beds 3 baths1,632 sq. ft.105 SE 165th Ave, Portland, OR 97233
MLS# 113651862Listed by: KELLER WILLIAMS SUNSET CORRIDOR - Open Fri, 5 to 7pmNew
$499,900Active3 beds 2 baths2,172 sq. ft.5820 NE Halsey St, Portland, OR 97213
MLS# 114330435Listed by: THINK REAL ESTATE - Open Sat, 1 to 3pmNew
$624,900Active3 beds 2 baths2,051 sq. ft.2340 NE 60th Ave, Portland, OR 97213
MLS# 175258988Listed by: PREMIERE PROPERTY GROUP, LLC - Open Sat, 1 to 3pmNew
$699,000Active3 beds 2 baths2,190 sq. ft.12330 SW 60th Ave, Portland, OR 97219
MLS# 178552984Listed by: COLDWELL BANKER BAIN - Open Sat, 11am to 1pmNew
$1,295,000Active4 beds 5 baths4,294 sq. ft.4556 SW Taylors Ferry Rd, Portland, OR 97219
MLS# 185147154Listed by: JOHN L. SCOTT PORTLAND CENTRAL - New
$2,350,000Active-- beds -- baths6,272 sq. ft.3541 SE Yamhill St, Portland, OR 97214
MLS# 221791392Listed by: RICK BEAN REAL ESTATE - Open Sat, 11am to 2pmNew
$499,000Active3 beds 2 baths1,759 sq. ft.9304 N Hodge Ave, Portland, OR 97203
MLS# 239122659Listed by: URBAN NEST REALTY - Open Sat, 12 to 2pmNew
$515,000Active2 beds 2 baths1,402 sq. ft.7667 SE Sherman Ct, Portland, OR 97215
MLS# 242928985Listed by: THE AGENCY PORTLAND - Open Sun, 10am to 12pmNew
$449,000Active3 beds 2 baths1,702 sq. ft.11824 SE Liebe St, Portland, OR 97266
MLS# 266912561Listed by: HARCOURTS REAL ESTATE NETWORK GROUP