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Phoebe Flats 11518 NE Sandy Blvd 10 Unit Apartment Building $1,241,334 CAD ($124,133 CAD/Unit) 6.73% Cap Rate Portland, OR 97220
Executive Summary
HFO is pleased to present 11518 NE Sandy Blvd. Built in 1939, 11518 NE Sandy Blvd is a mixed-use property along the NE Sandy Blvd corridor in Portland, comprising 8 residential units and 2 commercial units. The property has been fully renovated, including roofing, siding, interiors, and plumbing. Current residential rents are below market, and one commercial unit sits vacant, presenting a lease-up and value-add opportunity for a new owner. The residential unit mix includes studio, one-bedroom, and two-bedroom layouts averaging 476 SF, on a 0.39-acre lot totaling 6,088 SF.
Property Facts
| Price | $1,241,334 CAD | Building Class | C |
| Price Per Unit | $124,133 CAD | Lot Size | 0.39 AC |
| Sale Type | Investment | Building Size | 6,088 SF |
| Cap Rate | 6.73% | Average Occupancy | 90% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1939 |
| Property Subtype | Apartment | Parking Ratio | 1.64/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | CE - Central Employment | ||
| Price | $1,241,334 CAD |
| Price Per Unit | $124,133 CAD |
| Sale Type | Investment |
| Cap Rate | 6.73% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 6,088 SF |
| Average Occupancy | 90% |
| No. Stories | 1 |
| Year Built | 1939 |
| Parking Ratio | 1.64/1,000 SF |
| Zoning | CE - Central Employment |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Pantry
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 400 |
| 1+1 | 3 | - | 500 |
| 2+1 | 1 | - | 709 |
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | R265723 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $655,355 CAD |
Property Taxes
Parcel Number
R265723
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$655,355 CAD
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Phoebe Flats | 11518 NE Sandy Blvd
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