Portland Real Estate Experts Since 1978
Andrea Jarvis, Pete Anderson Realty - Portland Real Estate Agent   Laura Swanson Pete Anderson Realty Real Estate Agent   Tacho Perez, Pete Anderson Realty Real Estate Agent
Andi Jarvis, Portland    Laura Walsh, Manzanita    Tacho Perez, Portland
Peter De Turk, Pete Anderson Realty Real Estate Agent   Pete Anderson Realty Dellanne McGregor Real Estate Agent   Dave Matthews, Pete Anderson Realty Real Estate Agent
Peter De Turk, Manzanita   Dellanne McGregor, Manzanita   Dave Matthews, Manzanita
Mary Siegel, Pete Anderson Realty Real Estate Agent   Linda Burns, Pete Anderson Realty Real Estate Agent   Bill Fornas, Pete Anderson Realty Real Estate Agent
Mary Siegel, Portland   Linda Burns, Portland   Bill Fornas, Astoria
Joe Meyer, Pete Anderson Realty Real Estate Agent   David Jones, Pete Anderson Realty Real Estate Agent   Dale Burkholder
Joe Meyer, Tillamook   David Jones, Rockaway   Dale Burkholder, Portland
Linda Elmore, Pete Anderson Realty, Real Estate Agent   Ron Haney, Pete Anderson Realty, Real Estate Agent   Megan Despain, Pete Anderson Realty, Real Estate Agent
Linda Elmore, Portland   Ron Haney; Portland   Megan Despain, Portland
Sandy Flaskerud, Pete Anderson Realty, Real Estate Agent   Manli Chen, Pete Anderson Realty, Real Estate Agent   Victor Kee
Sandy Flaskerud, Portland   Manli Chen, Portland   Victor Kee, Portland
Patti Drake,, Pete Anderson Realty, Real Estate Agent   Ahmad Shaghafi , Pete Anderson Realty, Real Estate Agent   Jill Smith
Patti Drake, Portland   Ahmad Shaghafi, Portland   Jill Smith, Portland
Carolyn Scott   Irina Piatski, Pete Anderson Realty, Real Estate Agent   Skyy Pham, Pete Anderson Realty, Real Estate Agent
Carolyn Scott, Portland   Irina Piatski, Portland   Skyy Pham, Portland
Natalie Lenz   Cecelia Maben   April Ransem, Pete Anderson Realty, Real Estate Agent
Natalie Lenz, Portland   Cecelia Maben, Portland   April Ransom, Portland
Heather Stanfield, Pete Anderson Realty, Real Estate Agent   Jacqui Powell, Manzanita Real Estate Agent  
Heather Stanfield, Portland   Jacqui Powell, Manzanita   Julie Neal, Rockaway
    Cynthia Lee    
    Cynthia Lee, Principal Broker    

 

$7,745,000
23074914 MLS
POTENTIAL LOAN ASSUMPTION of 3.25% fixed until December 2028, for qualified buyers. The Weidler 111 Apartments represents a rare opportunity to invest in a high-quality stabilized apartment community in one of the strongest submarkets within the Portland Metro, The Gateway District of Northeast Portland. The asset is comprised of 32 spacious units, with a mix of large 2BR and 3BR floor plans. The vacancy average has been historically low, and the unit mix has proven to meet the demands of today?s renters, and will continue to be a unique housing option in the market, given the limitations and financial challenges of developing large floor plans in today?s market and moving forward. The community has benefited from major interior & exterior improvements in recent years. Exterior renovations include re-branding & signage, new paint, new outdoor BBQ/Picnic area, new basketball court, renovated leasing office, new fencing, new decking (select units), and upgraded landscaping. The majority of the interior units have been renovated (approx. 90%) with flooring, paint, appliances, cabinets (new or refinished), resurfaced countertops (select units with quartz), new fixtures, lighting, ceiling fans, and various bathroom updates. A proven model of success has been established for a new investor to finish the remaining units, and also reap the benefits of less turnover work for future lease ups. The community has experienced strong rent growth in recent years, with impressive lease up rents in 2022/2023 as tenants seek more suburban amenity rich communities and large floorplans. The average in place rents still trail the highest level in the building by approximately 10%, allowing a new investor the opportunity to step in and execute a realistic and obtainable value add model by simply getting all of the existing units up to the highest achieved level in the building.

11145 NE WEIDLER ST, Portland

Start Your Search
The content relating to real estate for sale on this site comes in part from the IDX program of the RMLS of Portland, Oregon. Real Estate listings held by brokerage firms other than this firm are marked with the RMLS logo, and detailed information about these properties include the name of the listing's broker. Listing content is copyright © 2023 RMLS of Portland, Oregon. All information provided is deemed reliable but is not guaranteed and should be independently verified. This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.