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Belmont St Apartments
Iconic 1920's Building in Desirable Close-In SE Portland
Listing Contacts
License: 201204200
Active
Address
4263 SE Belmont St, Portland, OR 97215
Show on MapDate Added
Jan 3, 2025
Days on Market
83 days
Time Since Last Update
2 days
Details
Property TypeMultifamily
SubtypeApartment Building
ClassC
Square Footage7,453
Net Rentable (sq ft)7,453
Price/Sq Ft$339.46
Cap Rate6.50%
NOI$164,566
Units19
Year Built1927
Buildings1
Stories3
Lot Size (acres)0.12
Price/Unit$133,157.89
Ground LeaseNo
OwnershipFee Simple
Marketing Description
Property Website: https://www.marcusmillichap.com/properties/164482/belmont-street-apartments
The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of Belmont Street Apartments, a classic 19-unit
property built in 1927, located in the highly desirable Sunnyside/Belmont neighborhood. This exceptional asset seamlessly blends
historic charm with modern conveniences, featuring a diverse mix of studio, studio-plus, one, and three-bedroom units that cater to
a wide range of tenant needs. The property includes secure bike storage, on-site common laundry facilities, and a secured entrance,
ensuring both convenience and peace of mind for residents.
Belmont Street Apartments’ prime location grants residents immediate access to one of Portland’s most vibrant and sought-after
areas, renowned for its wide mix of dining, shopping, and entertainment options. From the trendy vibe of Belmont to the lively streets
of Hawthorne and Burnside, tenants can immerse themselves in a dynamic urban lifestyle, enjoying easy access to top-rated cafes,
unique boutiques, local markets, and nightlife. The unparalleled convenience and energetic neighborhood atmosphere make Belmont
Street Apartments an ideal choice for a diverse and engaged tenant base.
Belmont Street Apartments present a compelling investment opportunity, offering a potential 10+% upside through strategic rent
adjustments, utility optimization, and operational improvements. The property’s timeless architecture, well-maintained condition, and
the neighborhood’s enduring popularity contribute to long-term value appreciation and strong returns in the thriving Portland rental
market.
Investment Highlights
-
Strong Upside Potential of 10+%, Providing a Significant Opportunity for Value Growth
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Diverse Mix of Studio, Studio Plus, One and Three-Bedroom Units
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Excellent Walk Score of 91 and Bike Score of 88
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Proximity to Parks, Restaurants, Schools, and Retail Options
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Separately Metered Gas and Electricity for Lower Utility Expenses
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Strong Market Indicators: Average 5-Mile Household Income of $111,266
Valuation Calculator
Valuation Calculator
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$164,566.00
$13,713.83/mo
Valuation Metrics
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0
DSCR
6.5%
Cap Rate
6.5%
ROI
Property History
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Due Diligence
Listing Contacts
- License: 201204200
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Broker Information
Broker Name
David Tabata
Broker License
OR 201224889
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