Green Seed Apartments

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Address: 16111 E Burnside St, Portland, OR 97233, USA
Created date: November 28, 2023
Date last updated: November 28, 2023
  • Green Seed Apartments are 100% occupied.
  • The building is the only Carbon Neutral apartment complex in the region.
  • Generous common areas to encourage resident interaction.
  • Individual locking storage spaces.
  • Rainwater Harvesting System.
  • Geothermal Heating and Cooling.
  • Solar Power generation.
  • High efficiency construction methods.

Property Description

Green Seed is a 31-unit apartment complex that was built in 2021 and is 100% occupied. It is the only carbon-neutral apartment complex in the Pacific Northwest. The apartments are designed to be energy-efficient, with features such as solar panels and water-saving appliances. The apartments range in size from 313 square feet to 511 square feet including studio and one bedroom apartments. The apartments are highly energy efficient and are focused on affordability, community building, and offer desperately needed workforce housing adjacent to a Max light rail station. The property has a number of amenities, including a rainwater harvesting system, community raised bed gardening area, onsite parking, two ground floor commercial spaces, and a 1,741 square foot space in the daylight basement that could be office, treatment counseling, or shelter space that could serve residents and the greater community. In addition, there is also a community room that can be used for resident events and gatherings. The rent for the apartments starts at $1,150 per month for studio apartments. Rent includes all utilities, except for internet. If you are looking for a sustainable and convenient place to live in Portland, then 16111 East Burnside Street is a great option. The property is located in a vibrant neighborhood with easy access to public transportation, shopping, and parks. The apartments are also energy-efficient and have a number of amenities.

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Multifamily type: Low-Rise
Price: $7,500,000
No. of Units: 31
Cap Rate: 4.91%
Average Occupancy: 100
Year Built: 2020
Building Size: 19,551 Sq ft
Lot Size: 18,200.00 Sq ft
No. of Stories: 3
Buy Side Fee: 1%
Opportunity Zone: No
Price per unit: $241,935
Address: 16111 E Burnside St, Portland, OR 97233, USA

FINANCIAL DETAILS

Income/expense info: Pro Forma
Financial year: 2024
Gross income: 520184
Effective Gross income: 503684
Operating expenses: 136104
Net operating income: 367580
Pre-tax cashflow: 367580

Additional contacts

Full name Phone number Email address
Skip Rotticci (503) 314-0527 skip@macadamforbes.com
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