Listed by Kidder Mathews Portland
$1,850,000
Foster 74
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 15,646
Units 37
Class B
Stories 3
Zoning CM2
Permit ready 37 Unit Development Site
Marketing description
Foster 74 is a Permit Ready 37- Unit Apartment Project in Portland’s Up-and-coming Foster-powell “fopo” Neighborhood. The Property Sits on Two Tax Lots and is Not Subject to Portland’s Inclusionary Housing Provisions. Plans Have Been Approved by the City and Construction Can Being as Soon as Permits Are Paid for at the City. Renderings, Plans, Surveys and Reports Are Included in the Sale and Will Be Fully Transferred to the Buyer at Closing. Buyer to Conduct Its Own Due Diligence to Verify With the City of Portland the Status of the Proposed Project. Foster 74 Was Designed as a Modern, 3-story Wood Frame Apartment Consisting of 15,646 Sf of Gross Square Footage Containing 37 Apartment Units Across Two Side-by-side Buildings. The Unit Mix Will Consist of 5 Studio Units, 31 One-bedroom Units and 1 Two-bedroom Unit, All With Modern Finishes and Top Floor Units With Vaulted Ceilings. Units Will Feature Wide Plank Lvt Flooring, in-unit Stackable Washer/dryer, Two Tone Cabinets, Porcelain Tile Backsplash, Undermount Sinks and Stainless Steel Appliances. Buyers Can Execute the Current Project as Designed, or Designing the Building to Their Own Standard and Specifications. The Project is Located Near Many of Portland’s Most Cutting Edge Restaurants, Cafes and Breweries and Offers Many Experiences Only Found in the Area. From Coffee Shops With Vegan Pastries to a Grocery Store Offering Its Own Take on Salsa, Fo-po Has a Little Something Off Radar for Everyone. It is Labeled Walker and Biker’s Paradise and is Near Public Parks, a Community Center and the Heart of the Foster Blvd Revitalization Area. It is Less Than 6 Miles From Downtown Portland and Offers Tenants Quick Access to the Major Employment Hub in the Metro Area.
Investment highlights
- Walker & Biker's Paradise With a Walk Score of 93 and a Bike Score of 97
- Desirable 1 Bedroom Concentration
- Located in the Up and Coming "Fopo" Neighborhood
- Asset Not Subject to Portland’s Inclusionary Zoning or Rent Cap/controls
- Efficient Design for Low-maintenance Management
Listing Contacts
Listed by Kidder Mathews Portland
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