< Back to Search

For Sale

PARK PLACE APARTMENTS

2628 NE Red Sunset Drive | Gresham, OR 97030

Property Details

Price$4,925,000
Building Size19,600 SF
Property Size0.93 Acres

Supporting Documents

Description

  • Park Place Apartments is a well situated multifamily asset consisting of three, two story buildings with twenty units, located in the north central Gresham submarket. The property has favorable suburban unit mix made up of 2 bed/1 bath, and 3 bed/2 bath units. Unit sizes are approximately 940 square feet on the two-bedrooms and approximately 1,040 square feet on the three-bedrooms. The property has been well maintained, has updated double pane vinyl windows, and offers residents ample green space and access to public transportation, retail and services.
  • Gresham/Troutdale has proven to be a strong apartment market with continued upward pressure on rent growth and minimal new market rate construction deliveries in the pipeline. Park Place Apartments is a well-positioned asset offering a dynamic location and future upside to a new owner.
  • Seller is a licensed Oregon real estate broker

Highlights

  • Low density site
  • Large open floor plan
  • Full-size washer/dryer in units
  • Apartments feature a private patio/deck
  • Convenient access to services, retail, and entertainment
  • Professionally managed
  • 22 off-street spaces (12 uncovered and 8 single car garages)
  • Apartments 107 and 207 have had their interiors renovated

Brokers