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Fran-Mar Apartments - 22 Unit 110-162 NW 15th St 22 Unit Apartment Building $4,812,360 CAD ($218,744 CAD/Unit) Gresham, OR 97030
Investment Highlights
- A+ Location Proximity to DT Gresham, transit, schools, shopping
- Interior Cosmetic Updates to 13 units: light fixtures, ceiling fan, blinds, new carpet in LR, LVT in remaining rooms
- Private patios
- Exterior Systems Updates: vinyl windows, roof replacement, additional roof ventilation, patio doors, siding
- Refrigerator, stove, W/D hookups in every unit
- 2 dedicated parking spots per unit
Executive Summary
Welcome to the Fran-Mar Apartments, located at the end of a quiet cul-de-sac in the heart of Gresham. This unique property offers 11 well-maintained duplex units in
one of the area's most convenient locations. Each apartment is 890 square feet, with 2 bedrooms and 1 bathroom, and dedicated yard space. Spacious living rooms
open onto private back patios, creating an inviting indoor-outdoor flow that tenants love. Substantial interior and exterior improvements, including the renovation of
13 units, position this asset for reduced near-term capital needs.
The location is truly what sets this property apart. Residents enjoy proximity to Historic Downtown Gresham and Gresham Station with easy access to the MAX,
multiple bus lines, and the new Trader Joe’s. A nearby golf course, the Gresham Farmer’s Market, and proximity to Mt. Hood offer additional recreation options.
Beyond the strong fundamentals, this property presents an excellent future condo conversion opportunity—offering investors both stable cash flow today and
significant upside potential tomorrow.
one of the area's most convenient locations. Each apartment is 890 square feet, with 2 bedrooms and 1 bathroom, and dedicated yard space. Spacious living rooms
open onto private back patios, creating an inviting indoor-outdoor flow that tenants love. Substantial interior and exterior improvements, including the renovation of
13 units, position this asset for reduced near-term capital needs.
The location is truly what sets this property apart. Residents enjoy proximity to Historic Downtown Gresham and Gresham Station with easy access to the MAX,
multiple bus lines, and the new Trader Joe’s. A nearby golf course, the Gresham Farmer’s Market, and proximity to Mt. Hood offer additional recreation options.
Beyond the strong fundamentals, this property presents an excellent future condo conversion opportunity—offering investors both stable cash flow today and
significant upside potential tomorrow.
Data Room Click Here to Access
- Operating and Financials
Property Facts
| Price | $4,812,360 CAD | Building Class | B |
| Price Per Unit | $218,744 CAD | Lot Size | 1.45 AC |
| Sale Type | Investment | Building Size | 25,000 SF |
| No. Units | 22 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 0.88/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Zoning | DRL2 - Gresham DRL-2 | ||
| Price | $4,812,360 CAD |
| Price Per Unit | $218,744 CAD |
| Sale Type | Investment |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 1.45 AC |
| Building Size | 25,000 SF |
| No. Stories | 1 |
| Year Built | 1966 |
| Parking Ratio | 0.88/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | DRL2 - Gresham DRL-2 |
Amenities
- Smoke Detector
Unit Amenities
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Dining Room
- Freezer
- Patio
- Vinyl Flooring
- Window Coverings
Site Amenities
- Trash Pickup - Curbside
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 22 | - | 890 |
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | R337354 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,992,651 CAD |
Property Taxes
Parcel Number
R337354
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,992,651 CAD
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Fran-Mar Apartments - 22 Unit | 110-162 NW 15th St
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