January 21, 2025
NORRIS & STEVENS, INC. BROKERS $3.04M INVESTMENT SALE OF THE GLENWOOD APARTMENTS IN PORTLAND, OREGON
Glenwood on Powell, LLC recently completed the $3,040,000 ($108,571/unit) purchase of the Glenwood Apartments, a multi-family complex located at 13116 SE Powell Boulevard in Portland, Oregon.
Constructed in 1970, the Glenwood Apartments is a 28-unit multi-family asset consisting of 6 buildings situated on 1.02 acres in Portland’s Powellhurst-Gilbert neighborhood. The apartment community is comprised primarily of two-bedroom/one-bathroom units between 750 to 800 square feet with a couple of one bedroom/one bathroom units at 750 square feet. Each unit features vinyl windows, dishwashers, and inviting patios/decks.
The Glenwood Apartments is conveniently located near multiple retailers off of SE Powell Boulevard and SE Division Street. Major transportation arterials such as I-205 and Hwy 26 are minutes away.
David C. Chatfield and Adrian Vidican with Portland-based Norris & Stevens, Inc. represented the Buyer and the Seller, Edward Y. Wong and Bin Y. Wong, in the transaction.
Norris & Stevens, Inc. is one of the largest locally-owned, full-service commercial real estate brokerage firms in Oregon and SW Washington. A member of the TCN Worldwide network, the firm was founded in 1966 and currently employs around 75 professionals in investment sales, leasing and property management for office, industrial, retail, land, and multi-family properties. The firm’s property management portfolio exceeds 7 million square feet of commercial space and 11,000 apartment units.
