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Pinewood Station Apartments 16300-16400 E Burnside St 49 Unit Apartment Building $8,069,312 CAD ($164,680 CAD/Unit) 6.73% Cap Rate Gresham, OR 97233
Executive Summary
» Over $1,000,000 in Recent Capital Improvements
Pinewood Station has undergone comprehensive capital improvements
including full crawl space upgrade with new posts, beams, vapor
barriers, insulation, and sump pumps. The property has also received
new roofs across the entire community (2016, 2017, & 2019), new
siding, windows, patios, gutters, and fresh exterior paint on all buildings
positioning the asset for years of reduced capital expenditure needs.
» Strong Occupancy and Stable Unit Mix
The property is 100% occupied across 49 units comprising a desirable
mix of 8 one-bedroom/one-bath, 40 two-bedroom/one-bath, and 1
four-bedroom/two-bath unit. The concentration of two-bedroom units
appeals to a broad renter base including small families, roommates, and
working professionals seeking.
» Proximity to Major Employers and Distribution Hubs
Pinewood Station benefits from its location near several major
employment centers, including Amazon’s 855,000-square-foot robotics
fulfillment center in nearby Troutdale employing over 2,000 full-time
workers, and the Albertsons/Safeway regional distribution center
in Gresham. Gresham’s diverse economy spans retail, healthcare,
manufacturing, and education, providing a deep and stable tenant
employment base.
» Excellent Transit Connectivity and Freeway Access
The property is well-served by TriMet’s MAX Blue Line light rail, with
nearby stations at Gresham Central Transit Center and Cleveland Avenue
providing direct service to downtown Portland, Beaverton, and Hillsboro
with trains running every 15 minutes or less throughout the day. Residents
also enjoy convenient access to I-84 and I-205, connecting them to
Portland International Airport and employment centers across the metro.
» Thriving Retail and Community Amenities
Residents are minutes from Gresham’s primary retail corridors along
Burnside Road, including the Oregon Trail Shopping Center (Marshalls,
Big 5 Sporting Goods, Chipotle, Dollar Tree) and Gresham Station, a
500,000-square-foot mixed-use shopping destination. Gresham Square
Shopping Center sits at the intersection of Burnside and Eastman
Parkway, offering additional dining, medical, and retail services.
» Gateway to Oregon’s Premier Outdoor Recreation
Gresham is Oregon’s fourth-largest city and the second-largest in the
Portland metro, offering residents an ideal balance of urban convenience
and outdoor access. The property sits at the gateway to Mount Hood,
Multnomah Falls, and the Columbia River Gorge National Scenic Area
a lifestyle amenity that differentiates this location and drives sustained
rental demand from outdoor enthusiasts and families alike.
Pinewood Station has undergone comprehensive capital improvements
including full crawl space upgrade with new posts, beams, vapor
barriers, insulation, and sump pumps. The property has also received
new roofs across the entire community (2016, 2017, & 2019), new
siding, windows, patios, gutters, and fresh exterior paint on all buildings
positioning the asset for years of reduced capital expenditure needs.
» Strong Occupancy and Stable Unit Mix
The property is 100% occupied across 49 units comprising a desirable
mix of 8 one-bedroom/one-bath, 40 two-bedroom/one-bath, and 1
four-bedroom/two-bath unit. The concentration of two-bedroom units
appeals to a broad renter base including small families, roommates, and
working professionals seeking.
» Proximity to Major Employers and Distribution Hubs
Pinewood Station benefits from its location near several major
employment centers, including Amazon’s 855,000-square-foot robotics
fulfillment center in nearby Troutdale employing over 2,000 full-time
workers, and the Albertsons/Safeway regional distribution center
in Gresham. Gresham’s diverse economy spans retail, healthcare,
manufacturing, and education, providing a deep and stable tenant
employment base.
» Excellent Transit Connectivity and Freeway Access
The property is well-served by TriMet’s MAX Blue Line light rail, with
nearby stations at Gresham Central Transit Center and Cleveland Avenue
providing direct service to downtown Portland, Beaverton, and Hillsboro
with trains running every 15 minutes or less throughout the day. Residents
also enjoy convenient access to I-84 and I-205, connecting them to
Portland International Airport and employment centers across the metro.
» Thriving Retail and Community Amenities
Residents are minutes from Gresham’s primary retail corridors along
Burnside Road, including the Oregon Trail Shopping Center (Marshalls,
Big 5 Sporting Goods, Chipotle, Dollar Tree) and Gresham Station, a
500,000-square-foot mixed-use shopping destination. Gresham Square
Shopping Center sits at the intersection of Burnside and Eastman
Parkway, offering additional dining, medical, and retail services.
» Gateway to Oregon’s Premier Outdoor Recreation
Gresham is Oregon’s fourth-largest city and the second-largest in the
Portland metro, offering residents an ideal balance of urban convenience
and outdoor access. The property sits at the gateway to Mount Hood,
Multnomah Falls, and the Columbia River Gorge National Scenic Area
a lifestyle amenity that differentiates this location and drives sustained
rental demand from outdoor enthusiasts and families alike.
Property Facts
| Price | $8,069,312 CAD | Apartment Style | Garden |
| Price Per Unit | $164,680 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 2.17 AC |
| Cap Rate | 6.73% | Building Size | 40,520 SF |
| No. Units | 49 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 1.85/1,000 SF |
| Zoning | HDR60, Gresham | ||
| Price | $8,069,312 CAD |
| Price Per Unit | $164,680 CAD |
| Sale Type | Investment |
| Cap Rate | 6.73% |
| No. Units | 49 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.17 AC |
| Building Size | 40,520 SF |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 1.85/1,000 SF |
| Zoning | HDR60, Gresham |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Heating
- Kitchen
- Refrigerator
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Pool
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 640 |
| 2+1 | 40 | - | 840 - 850 |
| 4+2 | 1 | - | 1,800 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Strong public transit
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $4,528,782 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$4,528,782 CAD
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Pinewood Station Apartments | 16300-16400 E Burnside St
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