Douglas Square – 2440-2468 SE 87th Avenue, Portland
- 36 Units
- 22,577 SF Sq Ft
- 6.2% - Proforma Cap
-Opportunity to acquire a well performing asset with significant income upside – 18% variance in current versus highest achieved rents.
-Additional income upside as RUBs are fully implemented.
-Located in the Montavilla neighborhood / Jade District, which is poised for long-term rent growth.
-Near Portland Community College Southeast Campus which has more than doubled its site size from 94,000 to 200,000 SF.
-Recent renovations include enhanced curb appeal with new exterior paint, windows, landscaping, signage, & parking lot.
-Varying levels of interior unit upgrades have yield a pay-bock of just two years.