Foothills Apartment Living
Newly Constructed 69 Units in Growing Secondary Market
Marketing description
Berkadia is pleased to announce it has been retained as the exclusive listing broker for Foothills Apartment Living in Sandy, OR.
Foothills is a 69-unit, garden-style apartment community constructed in 2022, offering one- and two-bedroom homes averaging 904 square feet. The community features modern interior finishes, stainless steel appliances, hard surface countertops, and luxury vinyl plank flooring—catering to a high-end tenant demographic, as reflected by the asset’s in-place rents and operations. Situated just west of downtown Sandy, Foothills is nestled between residential homes and open green space, providing residents with a quiet and private lifestyle.
The Sandy market is highly supply-constrained, presenting qualified buyers with the rare opportunity to acquire a newly constructed asset in one of the Pacific Northwest’s highest barrier-to-entry submarkets. Further supporting the investment thesis, Sandy’s active sewer moratorium significantly limits the potential for near-term new development.
Foothills represents a compelling opportunity for both local and national investors looking to grow their secondary market footprint. The asset offers stabilized performance, durable cash flow, and long-term value preservation in a market where new competition is structurally constrained.
Investment highlights
- New Construction Quality: Built in 2022, Foothills features modern, high-quality construction with luxury finishes designed to appeal to an upscale renter demographic.
- Supply-Constrained Market: Sandy is a highly supply-limited submarket where a sewer moratorium, elevated construction costs, and zero projected apartment deliveries in 2026 materially restrict new multifamily competition.
- Rent vs. Own Advantage: Average home prices exceeding $568,000 create a strong rent-versus-own dynamic that supports sustained rental demand.
- Affluent Demographics: More than half of nearby households earn over $100,000 annually, with projected household income growth exceeding 30% over five years.
- Regional Employment Drivers: Proximity to major employers such as OHSU, Portland State University, Amazon, and regional logistics hubs underpins rental demand.
- Strategic Metro Access: Located approximately 11 miles from Gresham, 25 miles from downtown Portland, and 30 miles from Vancouver, WA via Highway 26 and regional interstate connectivity, offering efficient commuter access to major employment centers.
- Lifestyle-Oriented Location: The property’s setting near outdoor recreation, green space, and Mount Hood enhances resident quality of life and tenant retention.
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