About 11445 Sw Greenburg Rd
The Greenburg Townhomes are located in the strong sub-market of Tigard, Oregon and are comprised of 8 large townhome style units. Each apartment features 2 bedrooms and 1.5 baths, spacious floor plans, off-street parking, and private back patios. Tenants benefit from a unique oversized lot of nearly half an acre, with ample green space and is located nearby.The property has operated at a historically low vacancy, which is in line with the latest average vacancy rate reported for the Tigard submarket 2BR townhome style units at 2.55% (Multi-Family NW, Fall 2023). This opportunity provides a new owner with a significant and realistic path to organically increase the revenue at lease renewals or turnovers (the average in place is approx. 10-15% below market). There is also a value-add component by implementing a RUBS system in the future, as there is not one currently in place.Excellent access to transportation, via 217, I-5, and 99W ? and along the path of progress as Tigard continues to make improvements in the surrounding areas. The property has been well maintained and provides a stable home for an investor, with a proven path to grow and get up to market rents.
Features of 11445 Sw Greenburg Rd
MLS® # | 24177213 |
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Price | $1,675,000 |
Units | 8 |
Square Footage | 7,272 |
Acres | 0.43 |
Year Built | 1967 |
Type | Multi Family |
Status | Active |
Community Information
Address | 11445 Sw Greenburg Rd |
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Area | 151 - Tigard, Tualatin, Sherwood, Wilsonville |
Subdivision | GREENBURG |
City | Portland |
County | Washington |
State | OR |
Zip Code | 97223 |
Interior
Heating | Baseboard |
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Cooling | None |
Fireplace | No |
# of Stories | 2 |
Basement | Crawl Space |
Exterior
Exterior | Brick, Cement Siding |
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Lot Description | Level, Trees, Secluded |
Roof | Shingle |
Foundation | Concrete Perimeter |
School Information
Elementary | Metzger |
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Middle | Conestoga |
High | Southridge |
Additional Information
Date Listed | March 4th, 2024 |
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Days on Market | 59 |
Zoning | Multi |
Short Sale | No |
RE / Bank Owned | No |
Cap Rate | 5.16 |
Unit 1 Details
Beds | 2 |
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Baths | 2 |
Rent | $1,468 |
Features | Dishwasher, Disposal, Range, Refrigerator |
Listing Details
Office | RealtyNET, LLC |
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