The Brookside Apartments

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Address: 19535 River Rd, Gladstone, OR 97027, USA
Created date: December 21, 2023
Date last updated: March 19, 2024

12 Unit Partially Renovated Apartment Complex in Gladstone, OR
1 & 2 Bed Unit Mix • Ongoing Unit Renovations and Upgrades Since 2015
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Sale Price: $2,640,000 ($220,000 / Unit)
Actual NOI without RUBs: $130,731
Actual CAP Rate without RUBs: 4.95%
Proforma NOI with RUBs: $140,811
Proforma CAP Rate with RUBs 5.33%
Units: 12 Units with 1 & 2 Bedroom Mix
Parking Space: 22 spots

Property Description

Property Features: • Ample sized lot on 0.69 Acre with Beautiful Surrounding Greenery and Landscaping • 2 Units Include Their Own Private Yard • Secure On-Site Laundry Room • Recent Exterior Updates Such as New Siding and Exterior Paint, New Fences, and New Mailboxes • Select Units Updated with Vinyl Windows, New Siding, Updated Units with Stainless Steel Appliances • Easy Access to TriMet Lines Along 99E.

Key Property Information

Listing Status: Available
Property Types: Apartment Buildings
Price: $2,640,000
No. of Units: 11
Cap Rate: 4.95%
Year Built: 1968
Year Renovated: 2015
Building Size: 9,600 Sq ft
Lot Size: 30,056.40 Sq ft
No. of Stories: 2
Opportunity Zone: No
Price per unit: $240,000
Property Website Click Here
Address: 19535 River Rd, Gladstone, OR 97027, USA

Additional contacts

Full name Phone number Email address
Mark Foster 503.326.9000 [email protected]
Michael Horter 503.326.9000 [email protected]
Nicholas G. Diamond 503.222.2655 [email protected]

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