Tabor Apartments
39-Unit Multifamily Community Located in the Heart of North Tabor
Marketing description
Property Website: https://www.marcusmillichap.com/properties/169610/tabor-apartments
The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of Tabor Apartments, a 39-unit multifamily community located in the heart of North Tabor, one of Portland’s most established and connected neighborhoods. Built in 2016, the property consists of three separate buildings situated around a landscaped courtyard. The gated community provides secure access to the property and each building, creating a cohesive and private residential environment. The diversified unit mix includes studios, one-bedroom flats, and two- and three-bedroom townhomes, with select units featuring fireplaces, extra-tall ceilings, private patios or balconies, and individual entries. The exterior was recently repainted, contributing to the property’s sharp curb appeal.
Tabor Apartments offers investors the opportunity to acquire a newer-construction, low-maintenance asset with both stability and upside. Current rents are approximately 7.3% below market, presenting a clear path for income growth through targeted rent increases. The property’s diversified unit mix and high-end interior finishes include granite countertops, stainless steel appliances, walnut cabinetry, and vinyl flooring. In-unit laundry is available in many apartments, while others are served by shared laundry facilities as well as interior bike storage.
The location is a major value driver, with a Walk Score of 83 and a Bike Score of 91, offering residents convenient access to transit, parks, and neighborhood amenities. Positioned just four miles from Downtown Portland, the property benefits from both visibility along East Burnside and added livability via adjacent residential side streets with ample on-street parking. With a 5-mile population of 494,980 and a 1-mile average household income of $133,625 Tabor Burnside is well-positioned to deliver long-term performance in one of Portland’s most desirable urban neighborhoods.
Investment highlights
Built in 2016 with recently painted fiberboard siding, stone columns, natural wood accents, and professionally landscaped grounds
Comprised of 39 spacious units, including studios, one-bedroom flats, and two- and three-bedroom townhomes with high-end finishes such as granite countertops, stainless steel appliances, and walnut cabinetry
Current rents are approximately 7.3% below market, offering a clear opportunity to increase cash flow while showing stabilized in place cashflow
Select units include fireplaces, extra-tall ceilings, in-unit washer/dryers, private patios or balconies, and individual entries
Located in the vibrant North Tabor neighborhood, known for its community atmosphere, eclectic local businesses, and walkable access to parks and daily amenities
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