April 26, 2022
NORRIS & STEVENS, INC. BROKERS $9.25M SALE OF CLINTON COURT APARTMENTS IN PORTLAND, OREGON
Portland Clinton LLC recently completed the $9,250,000 purchase of Clinton Court Apartments, a 46-unit, multi-family complex located at 2715 SE 29th Avenue, Portland, Oregon in Multnomah County.
Clinton Court is a dynamically located mid-century apartment community in the Richmond neighborhood of Portland, Oregon. Professionally managed by Norris & Stevens, Inc. for over eight years, the well maintained apartment community is in close proximity to many services, retail, and entertainment.
The 20,928 square foot apartment complex was constructed in 1952 and is situated on two tax lots totaling 56,300 square feet. Clinton Court consists of five studios at approximately 370 square feet, and forty-one 1 bedroom/1 bathroom units at approximately 454 – 570 square feet.
At closing, the property was at 98.3% occupancy. Forty-four of the apartments have undergone substantial upgrades, with each unit offering a private entrance. The property has twenty off-street parking spaces, and offers plenty of street parking opportunities as well.
David C. Chatfield and Cameron Mercer with Portland-based Norris & Stevens, Inc. represented the Buyer as well as the Seller, Clinton Properties, LLC, 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 5.9 million square feet of commercial space and 9,100 apartment units