BARBUR PLACE 24 Units • Portland, Oregon OFFERING MEMORANDUM INVESTMENT SUMMARY Barbur Place is a 24-unit community in Southwest Portland that offers Barbur Place has been well cared for over the years. Dishwashers have an investor an exceptionally well maintained asset with the potential to been added to one-bedroom units on turnover (each two-bedroom increase rents. Completed in 1969, Barbur Place consists of two adjacent already included a dishwasher) and kitchens have recently been upgraded buildings offering nicely designed one- and two-bedroom units with with granite countertops. The owners have spent a significant amount of private decks or patios. time and money on capital improvements in the past year, including: Barbur Place’s rents currently average $1,000 per unit or $1.50 per square • New roof foot. Rents have grown significantly over the past several months—an average increase of $58 over 2017 year-end leases. Barbur Place’s nicely • New siding planned units—with updated finishes and amenities throughout—make • Parking lot re-striping this an attractive home for tenants. • New cabinets, appliances, carpets, and fixtures • Landscaping upgrades 2 HFO INVESTMENT REAL ESTATE INVESTMENT SUMMARY ASSET SUMMARY Property Barbur Place Location 8924 SW 30th Ave Portland, OR 97219 County Multnomah 66.67% 33.33% Total Units 24 1 Bedroom 2 Bedroom Year Built 1969 Stories 3 stories Approx. NR Sq Ft 16,000 Average Sq Ft 667 Acreage 0.63 PRICING FOR MORE INFORMATION Price $3,725,000 Greg Frick •
[email protected] Price Per Unit $155,208 HFO Investment Real Estate Per Square Foot $233 2424 SE 11th Avenue, Portland, Oregon 97214 www.hfore.com • (503) 241.5541 • Fax: (503) 241.5548 Projected Cap Rate 5.20% Brokers licensed in Oregon and Washington.