OFFERING MEMORANDUM BROWN APARTMENTS 67 Units • Portland, Oregon www.hfore.com • (503) 241.5541 Brown Apartments OFFERING MEMORANDUM BROWN APARTMENTS 807 SW 14th Avenue • Portland, OR 97205 TABLE OF CONTENTS I. Executive Summary 4 II. Location 17 III. Operations Analysis 30 IV. Offer Terms 36 HFO INVESTMENT REAL ESTATE Rob Marton Greg Frick
[email protected] [email protected] (971) 717.6335 (971) 717.6332 www.hfore.com • 503.241.5541 Licensed in the States of Oregon and Washington ASSET SUMMARY INVESTMENT SUMMARY Property Brown Apartments Address 807 SW 14th Avenue Rare opportunity, unique historic bricker. The Brown Apartments has been owner- Portland, OR 97205 managed for more than 20 years and offers a rare opportunity to acquire a historic bricker in Portland’s urban core. Much of the Brown Apartments’ historic character has been County Multnomah maintained with original hardwood floors, period lighting fixtures, clawfoot bathtubs, Year Built 1915 and trundle hideaway beds. Common area updates include new laundry systems, updated elevator and entryway. Total Units 67 Outstanding central location, high-demand district. The Brown Apartments is located Approx NR Sq Ft 30,018 sq ft on the eastern edge of the Goose Hollow neighborhood placing the asset between the Avg Unit Size 448 sq ft exclusive Pearl District, the Timber’s Major League Soccer stadium, and the West End, one of Portland’s newest retail districts. Portland’s living room, Pioneer Court House Square, Stories 5 floors Portland State University urban campus and the Northwest District, which includes the Alphabet District, Nob Hill and Slabtown are short distances to the Brown Apartments via Acreage 0.23 acres walking, biking or public transportation.