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The Mulberry 1638 SE 12th Ave 30 Unit Apartment Building $6,519,280 CAD ($217,309 CAD/Unit) 6.72% Cap Rate Portland, OR 97214
Investment Highlights
- Irreplaceable Vintage Charm & Livability
- Hawthorne Boulevard - Iconic Portland Destination
- Exceptional Accessibility
- Phenomenal Location - Rich in History
- Proximity to Downtown & Employment Centers
Executive Summary
A Proven Asset with a Compelling Repositioning Upside
The Mulberry Apartments present a rare opportunity to acquire a beautiful and historically significant asset in the affluent Ladd’s Addition neighborhood on Portland’s Central Eastside.
Mulberry offers exceptional “bones” and unit configurations that are virtually unmatched in today’s market, truly embodying the notion that “they don’t build them like they used to.” The property’s classic design, generous layouts, and enduring construction quality set it apart from newer inventory.
The Mulberry Apartments present a rare opportunity to acquire a beautiful and historically significant asset in the affluent Ladd’s Addition neighborhood on Portland’s Central Eastside.
Mulberry offers exceptional “bones” and unit configurations that are virtually unmatched in today’s market, truly embodying the notion that “they don’t build them like they used to.” The property’s classic design, generous layouts, and enduring construction quality set it apart from newer inventory.
Property Facts
| Price | $6,519,280 CAD | Building Class | C |
| Price Per Unit | $217,309 CAD | Lot Size | 0.46 AC |
| Sale Type | Investment | Building Size | 34,659 SF |
| Cap Rate | 6.72% | Average Occupancy | 97% |
| No. Units | 30 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1925 |
| Property Subtype | Apartment | Cross Streets | se mulberry ave |
| Apartment Style | Low-Rise | ||
| Zoning | R1 | ||
| Price | $6,519,280 CAD |
| Price Per Unit | $217,309 CAD |
| Sale Type | Investment |
| Cap Rate | 6.72% |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 34,659 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built | 1925 |
| Cross Streets | se mulberry ave |
| Zoning | R1 |
Amenities
Unit Amenities
- Heating
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Hardwood Floors
- Carpet
- Built-In Bookshelves
Site Amenities
- Laundry Facilities
- Property Manager on Site
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 19 | - | 560 |
| 1+1 | 11 | - | 747 |
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Exceptionally walkable
100/100
Very drivable
80/100
Good public transit
70/100
Very bikeable
80/100
Property Taxes
| Parcel Number | R200345 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $2,530,414 CAD |
Property Taxes
Parcel Number
R200345
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$2,530,414 CAD
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The Mulberry | 1638 SE 12th Ave
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