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31165773
31165713

4534 SW Dickinson St, Portland, OR 97219

GW
OR 940700095
Premiere Property Group, LLC
Listed by Premiere Property Group, LLC
$10,300,000
82 days on market
Updated 68 days ago

Dickinson Crossing

Details
Property Type Land, Multifamily
Sub Type Apartment Building
Units 43
Cap Rate 3.07%
NOI $315,909
Broker Co-Op Yes
Year Built 1971
Buildings 4
Stories 2
Acreage 2.760
Zoning R2
Investment Type Redevelopment

Land | 2.76 acres

Marketing description

Dickinson Crossing presents a rare & flexible SELLER CARRY investment opportunity in SW Portland. The offering includes 43 well-maintained 1- & 2-bedroom units (41,970 sf lot), plus add'l 80,168 SF of raw land on 2 separate tax lot(s). Seller is completing a 3 lot partition to separate the apartments from raw land, allowing for either a partial sale or full property sale. (Partial sale subject to final plat recording). Seller may be willing to carry a contract (Max 2 yr) with considerable down. 40 yr comp roof in 2020. Sales price on each vacant proposed lots B and C to be based on # of units approved by the City of Portland. Wilson High School. 13 garages. Full addresses are 4534-4624 SW Dickinson St. The vacant land is zoned RM1, offering multiple development options, apartments, townhomes, or other middle-housing concepts. Buyers to perform their own due diligence. The existing apartment community has been carefully maintained by long-term ownership, with clean grounds and many long-term renters. Strong demand in this location supports stable occupancy. The property sits directly on a TriMet bus line and minutes from RESTAURANTS - Walter Mitty's, Original Pancake House, The Old Barn, Buster's BBQ, Kuang's, Sushi. FAST FOOD - Dominos, Taco Time, Wendy's, McDonald's. LODGING - Aladdin Inn & Suites, Comfort Suites, All comfort Residential Care. SERVICES - Tri Met Transit Center, Les Schwab Tire Center, Veterinary Hospital, Goodwill Donation. GROCERY - Walgreens, Fred Meyer, Safeway, Barbur Liquor. SCHOOLS - PCC Campus, Markham, Jackson & Wilson, Oregon School of Massage. PARKS - Holly Farm, Dickinson, Spring Garden. GAS - Chevron, Shell. Lot B). 24,515 sf lot for future dev/building along Dickinson St. Lot C). 55,653 sf lot for future dev/building, on SW Comus St. The development potential creates an outstanding opportunity.

Listing Contacts

GW
OR 940700095
Premiere Property Group, LLC
Listed by Premiere Property Group, LLC

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$315,909.00
$26,325.75/mo

Valuation Metrics

0
DSCR
3.07%
Cap Rate
3.07%
ROI

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Additional Information

Name
Rett Pratt
License
890300192
Brokerage
Premiere Property Group, LLC
Brokerage Phone
503-926-3380
Title
Broker of Record
Brokerage Address
5000 Meadows Rd. #150, Lake Oswego, OR 97035
Name
Greg Whistler
License
940700095
Brokerage
Premiere Property Group, LLC
Brokerage Phone
503-670-9000
Title
Commercial Managing Principal Broker
Brokerage Address
10135 Southeast Sunnyside Road
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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