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213 SE 192nd Ave, Portland, OR 97233

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For Sale

$1,225,000

6,288 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $194.82
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

The SE 192nd Apartments, located in Gresham, Oregon represents a 7-unit turn-key investment opportunity, with significant operational upside for a new investor. The property is situated on a private flag lot with a low-density peaceful setting (0.7-acre lot). The position and attributes of the property have resulted in long-term tenancy and strong market demand for the units. The property is comprised of large 2-bedroom floor plans, all with washer/dryer hook ups in unit, and has experienced stable occupancy in recent years (No vacancy experienced in 2024). The current rents in place trail the market by approximately 15-20%, allowing an investor room to capitalize on additional rent growth moving forward. In addition, the current ownership has not implemented utility bill-backs (a commonly accepted charge in the market), providing an investor with additional runway for NOI growth. The current ownership has taken a pride of ownership approach with the asset, with significant capital being invested back into the building since acquisition. Improvements include New Roofing, Parking Lot, Curbs/walkways, Sewer Line Replacement, Fencing, and Extensive interior renovations (on sample units), including the addition of washer/dryer hook-ups in all units.
MLS# 11444955

Courtesy Of Joseph Bernard Investment Real Estate

(503) 546-9390

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other
  • Lot Size
    0.7 Acres

Map and Directions

Directions to 213 SE 192nd Ave, Portland, OR 97233

Home seller CENTURY 21 North Homes Realty

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 North Homes Realty

(503) 652-2260
Learn More About Us

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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