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32451080
32451079

6940 SE Long St, Portland, OR 97206

MM
OR 201254590
SMI Real Estate
Listed by SMI Real Estate
$2,950,000
24 days on market
Updated 24 days ago

Kern Park

Details
APN R448203840
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,002
Units 15
Beds 15
Cap Rate 5.50%
NOI $161,697
Tenancy Multi
Price per SqFt $328
Year Built 2020
Acreage 0.140
Zoning CM2
Investment Type Stabilized

Multifamily | 5.50% CAP | 15 Units

Marketing description

Kern Park Apartments is an excellent opportunity to acquire a high-quality 2020-construction apartment building in Southeast Portland. Located at 6940 SE Long St, Kern Park Apartments is a 15-unit asset with a balanced units mix featuring nine (9) one-bed/one-bath units and six (6) two-bed/one-bath units. The efficient unit layouts and modern finishes offer residents a clean, comfortable living environment in an actively growing submarket.

The building showcases the benefits of newer construction: fully sprinkled, separately metered, and built with durable, high-quality, sound-dampening materials. Systems and interiors reflect a "built-to-hold" standard rather than value-engineered construction, giving the property lower operating intensity compared to older competing stock. Residents enjoy contemporary interiors including stainless steel appliances, quartz countertops, modern cabinets, LVP flooring, and quality fixtures. All units have in-unit washers and dryers.

With stabilized operations, limited to no deferred maintenance, and a location benefiting from continued neighborhood improvement, 6940 SE Long St represents a rare chance to acquire a modern, low-maintenance asset in one of Southeast Portland's most promising growth pockets.

Investment highlights

  • 15-unit multifamily property
  • 2020 construction
  • In-unit washer and dryers
  • Air conditioning throughout
  • Fully sprinklered
  • Desirable unit mix of 1- and 2-bed's
  • Efficient and low-maintenance asset
  • Stable tenant demand submarket
  • Modern finishes including:
  • Stainless steel appliances
  • LVP flooring
  • Modern cabinetry

Listing Contacts

MM
OR 201254590
SMI Real Estate
Listed by SMI Real Estate

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$161,697.00
$13,474.75/mo

Valuation Metrics

0
DSCR
5.48%
Cap Rate
5.48%
ROI

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Additional Information

Name
Matt Miller
License
201254590
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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