CRESTON VILLA APARTMENTS 44 Units • Portland, Oregon OFFERING MEMORANDUM

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CRESTON VILLA APARTMENTS 44 Units • Portland, Oregon OFFERING MEMORANDUM CRESTON VILLA APARTMENTS 44 Units • Portland, Oregon OFFERING MEMORANDUM www.hfore.com (503) 241.5541 INVESTMENT SUMMARY Creston Villa Apartments is a well-located 44-unit apartment community Creston Villa Apartments has a diverse unit mix that includes one-, in southeast Portland, Oregon. Located near the intersection of Powell two- and three-bedroom apartments. The majority of the floor plans— Boulevard and Cesar Chavez Boulevard (SE 39th Avenue), Creston Villa approximately 66%—are 776 sq ft two-bed one-bath apartments. Each Apartments has immediate access to major thoroughfares as well as of the units offers a private patio or deck, and a central laundry room is convenient retail services. Safeway is less than one block away, as is easily accessible. Portland’s newest multiplex movie theatre. Numerous local and national retailers and restaurants are found on Powell Boulevard, along Division Creston Villa Apartments’ rents currently average $1,123, or $1.54 Street to the north, and Holgate Boulevard to the south. Creston Park sq ft and have demonstrated a positive trend. Current average rents and Creston Elementary are immediately to the east, and Cleveland High are approximately 6.5% higher than 2018. Creston Villa Apartments’ School is within walking distance. convenient location and strong historical operations make the asset an exceptional investment opportunity. 2 HFO INVESTMENT REAL ESTATE EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS • Outstanding SE Portland location 29.6% 65.9% 4.5% • Newer roofs and windows 1 Bedrooms 2 Bedrooms 3 Bedrooms • Private patios or decks • On-site laundry and off-street parking ASSET SUMMARY UNIT MIX SUMMARY Property Creston Villa Apartments Unit Type Unit Count Avg Sq Ft Total Sq Ft % of Total Units Location 3608 SE 40th Avenue 1 Bedrooms 13 570 7,409 29.6% City, State Portland, OR 97202 2 Bedrooms 29 776 22,518 65.9% County Multnomah 3 Bedrooms 2 1,038 2,075 4.5% Year Built 1969 Total / Averages 44 727 32,002 100.0% Total Units 44 Approx NR Sq Ft 32,002 PRICE SUMMARY TOURS AND INQUIRIES Avg Unit Size 727 Price $7,150,000 Rob Marton • [email protected] Acreage 0.99 Greg Frick • [email protected] Per Unit $162,500 www.hfore.com Per Sq Ft $223 (503) 241.5541 Fax: (503) 241.5548 Cap Rate 5.10% Please do not disturb tenants. CRESTON VILLA APARTMENTS • 44 UNITS • PORTLAND, OR 3 4 HFO INVESTMENT REAL ESTATE CRESTON VILLA APARTMENTS • 44 UNITS • PORTLAND, OR 5 6 HFO INVESTMENT REAL ESTATE CRESTON VILLA APARTMENTS • 44 UNITS • PORTLAND, OR 7 LIFESTYLE CONVENIENCES SE Belmont St SE 60th Ave Mall 205 SE 82nd Ave Hawthorne Blue Star Donuts Mt Tabor Park SE 50th Ave McMenamins Baghdad Portland Campus Theater & Pub 205 Stumptown Coffee Roasters SE Division St Pok Pok Petite Provence César E. Chávez Blvd E. Chávez César 213 Fubonn Shopping Center Powell Street Station Creston Villa Apartments SE Powell Blvd SE 26th Ave 26 SE 52th Ave Creston Park Century 16 Eastport Plaza SE 92nd Ave SE Holgate Blvd SE Foster Rd SE 28th Ave HK Cafe Lent Park SE Steele St Woodstock Park Mt Scott Community Center & Indoor Pool Crystal Spring Rhododendron Garden SE Woodstock Blvd Mt Scott Park 8 HFO INVESTMENT REAL ESTATE IN THE VICINITY Restaurants and Dining Shopping/Entertainment Lifestyle Services Richmond Elementary School 40 45 41 42 43 39 49 48 46 70 SE Division St 66 63 62 60 59 56 54 52 51 44 38 47 71 69 68 67 65 64 61 58 57 55 53 50 37 72 73 74 Blvd E. Chávez César SE 26th Ave 36 Franklin High School 75 SE 50th Ave 22 76 77 26 23 24 35 78 81 Cleveland High School 9 10 St Ignatius School 83 8 25 26 27 28 32 82 85 13 12 11 2 3 26 SE Powell Blvd 29 31 Powell Park 84 14 5 6 7 1 87 15 4 Creston Annex Head Start 18 30 33 86 16 17 Creston Villa Apartments 34 SE 52nd Ave 79 80 Creston Park SE Foster Rd 88 21 Creston Elementary School 19 20 1. Safeway 16. Oregon Buddist Temple 31. Burger King 45. Tasty n Daughter 60. Ava Gene’s 75. People’s Food Co-op 2. Brown Lumber 17. Portland Taiko 32. Taco Time 46. New Thai Blues 61. Olympia Provisions Public House 76. US Postal Service 3. Tecos Fresh Mexican Food 18. Holy Trinity Barbecue 33. Speedboat Coffee 47. Tea Bar SE 62. Salt & Straw 77. Teutonic Wine Company 4. Dank Snacks and Supplies 19. Gladstone Street Pub 34. Little Caesars Pizza 48. Marino Cafe 63. Blue Star Donuts 78. Bullseye Glass Co 5. T-Moble 20. Plaid Pantry 35. Planned Parenthood - SE 49. Loprinzi’s Gym 64. Artigiano 79. Portland General Electric 6. Petco Grooming 21. Smith PDX 36. K & M Auto Service 50. Tropical Hut 65. Pok Pok 80. Fred Meyer Main Office 7. Wells Fargo Bank 22. Loyola Jesuit Center 37. Bete-Luka | Ethiopian 51. Rite Aid 66. Whiskey Soda Lounge 81. Burgerville 8. Rapid Cash 23. Van Veen Nursery 38. North Bar 52. Tom’s 67. Imperial Bottle Shop & Taproom 82. Catholic Charities 9. O’Reilly Auto Parts 24. Rhododendron Society Portland 39. Smaaken Waffle Sanwiches 53. 7-Eleven 68. Bollywood Theater 83. McDonald’s 10. Les Schwab Tire Center 25. Fireston Complete Auto Care 40. Fern Kitchen 54. Authentic Thai Cuisine 69. Papa G’s Vegan 84. Hopworks Urban Brewery 11. Path Twyman’s Car Center 26. Pho Hung 41. Good Coffee 55. Yataimura Maru 70. Pastini 85. Target / CVS Pharmacy 12. Starbucks 27. Thai BBQ 42. Landmark Saloon 56. Xico 71. New Seasons Market 86. Papa John’s Pizza 13. Rose City Pediatrics 28. La Bama 43. Los Gorditos 57. Division Do it Best Hardware 72. Clinton Community Garden 87. Pacific Fish & Oyster 14. Denicolas’s 29. Taco Bell 44. Tokio Table - Japanese 58. Atlas Pizza 73. Yama Sushi & Izakaya 88. Multnomah County Clinics 15. Naomi’s Organic Farm Supply 30. US Postal Service Steakhouse 59. Townshend’s Teahouse 74. Jacquelin CRESTON VILLA APARTMENTS • 44 UNITS • PORTLAND, OR 9 IN THE VICINITY Restaurants and Dining Shopping/Entertainment Lifestyle Services 84 1 2 3 90 89 88 87 83 82 26 SE Powell Blvd Creston Villa Apartments 4 5 86 85 80 81 6 7 8 SE 92nd Ave 9 10 213 Creston Park 11 12 13 14 15 16 77 78 79 17 18 Essex Park 74 75 76 19 70 71 72 73 Century 16 205 Kern Park Eastport Plaza 20 69 22 21 67 68 25 62 63 23 24 27 SE Holgate Blvd 64 65 66 26 28 29 61 30 31 32 33 34 35 36 37 SE 52nd Ave 38 39 58 59 60 40 41 42 57 Lents Park 43 44 55 56 SE 72nd Ave SE Foster Rd 54 SE Steele St 53 49 SE Harold St 46 48 52 Woodstock Park 45 47 50 51 1. Pho Hung 16. Foster Fitness Center 31. N.W.I.P.A 46. WorkSource Portland Metro 61. Baxter Auto Parts 76. JOANN Fabrics and Crafts 2. Taco Bell 17. Po’ Boy Art 32. Henry Higgins Boiled Bagels 47. McDonald’s 62. Multnomah County Library 77. Izzy’s Pizza & Buffet 3. Taqueria Los Gorditos 18. Foster Buds 33. Bar Carlo 48. Popeyes Louisiana Kitchen 63. Walgreens 78. Ross Dress for Less 4. Burger King 19. Nayar Taqueria 34. Starday Tavern 49. Emmert Cali Saigon Mall 64. GameStop 79. U.S. Postal Services 5. Siri Thai 20. FoPo Tarven 35. Off The Griddle 50. K-Town Korean BBQ 65. HK Cafe 80. Carl’s Jr 6. U.S. Postal Service 21. Tambayan 36. Euroclassic Furniture 51. Wells Fargo Bank 66. Dollar Tree 81. Best Baguette 7. Speed Boat Coffee 22. Y Arts / SE Center YMCA 37. Dutch Bros 52. Big 5 Sporting Goods 67. U.S. Bank Branch 82. KFC 8. Subway 23. Assembly Brewing 38. Garden Home Montessori School 53. Standard TV & Appliance 68. Walmart 83. Pizza Hut 9. Little Caesars Pizza 24. 7-Eleven 39. Dollar Tree 54. Harbor Freight Tools 69. Jack in the Box 84. WinCo Food 10. Carts on Foster 25. Foster Market 40. Everyday Food Mart 55. Super King Buffet 70. Domino’s Pizza 85. OM Seafood Company 11. Trap 26. Round Table Pizza 41. Envirocars 56. 82nd Street Bar & Grill 71. Fujiyama Sushi Bar & Grill 86. Chair Outlet 12. Awesome Burger 27. Laurelwood Park 42. Maple Leaf 57. IHOP 72. Wingstop 87. 7-Elevent 13. An Xuyen Bakery 28. SEIU 43. Portland Mercado 58. Shamrock Bar & Grill 73. LA Fitness 88. Powell’s Seafood 14. New Day Center for the Arts 29. K & B Bakery 44. FoPo Food Carts 59. Double Up Bar 74. Taco Bell 89. ABC Seafood Company 15. George Morlan Plumbing Supply 30. The Garden Spout 45. Mt Scott Community Center 60. Batteries Plus Bulds 75. Bank of America 90. Steakadelphia 10 HFO INVESTMENT REAL ESTATE PORTLAND METRO SNAPSHOT PORTLAND REGION TOP 10 LISTS Oregon’s largest city, Portland, is near the confluence of the Willamette Portland consistently receives glowing and Columbia Rivers. The Portland Metro Area consists of four counties: reviews and rankings from the media. Multnomah, Washington, Clackamas, and Clark County, Washington. 2019 lists include: • #4 Best City for an Active Lifestyle (Wallethub) APARTMENT MARKET DIVERSIFIED ECONOMY • #7 Healthiest Cities to Live (Thrillist.com) The Portland Metro Area consistently ranks Portland is home to the headquarters of • #7 Best Cheap Destinations in the U.S. (U.S. among the nation’s lowest for apartment Fortune 500 companies Nike and Lithia Motors.
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