Offering Memorandum > Linden Place Apartments

1212 NE Linden Ave Gresham, OR 97030

  • 2.68 Acres
  • Multifamily-Apartment
  • For Sale

Summary Description

The Linden Place Apartments is a 58 Unit apartment community located in the submarket of Downtown Gresham. Built in 1972 Linden Place consist of eight standalone structures. The unit mix is comprised of two 450 sf Studio units, Twenty-Seven One Bedroom/One Bath units averaging 651 sf, Twenty- Eight Two Bedroom/One Bath units averaging 844 sf and a Single Family Two Bedroom/One Bath Home. Thirty-Two of the Fifty-Eight units have been remodeled with new or refurbished cabinets and granite countertops. Kitchens and bathrooms have been upgraded and new carpet and vinyl flooring on turnovers. Significant capital improvements have been completed in the last two years; New Vinyl Windows and sliders, New Hardi-Plank siding and all new roofs. The Gresham Market is highly sought after by investors. A bedroom community of the Portland metro; Gresham is considered a Top Tier market from agency lenders. It is located in a diverse job market with access to a large supply of high skilled manufacturing jobs and easy access to Downtown Portland. This submarket has seen minimal new multifamily development in the past ten years, while seeing significant growth in demand from tenants. There is a limited pipeline of future development currently slated making this asset well positioned to capitalize on market conditions.

Property Status: Offering Memorandum

Area Available: 2.68 Acres

Features:

  • Significant Capital Improvements
  • Significant Rental Upside
  • New Roof, Siding & Windows
  • Granite Counters
  • Great Walk score
  • Walking Distance to MAX Stop
Related Documents:

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