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Applegate Apartments 17726 SE Division St 78 Unit Apartment Building $15,770,201 CAD ($202,182 CAD/Unit) 7.01% Cap Rate Portland, OR 97236
Executive Summary
» Recent Exterior Envelope Renovation Reduces Near-Term Capital Needs
Ownership has completed a comprehensive exterior upgrade including new
siding, a new roof, and new windows, significantly improving the building
envelope. These improvements reduce near-term capital expenditure
requirements while enhancing durability, energy efficiency, and curb appeal.
» Demonstrated Capital Commitment by Current Ownership
The substantial recent capital investment signals proactive asset stewardship
and provides incoming ownership with a well-maintained physical plant,
allowing a new owner to focus on operational performance rather than
immediate deferred maintenance.
» High-Visibility Location Along SE Division Street Corridor
Positioned directly on SE Division Street, the property benefits from strong
visibility and accessibility along one of East County’s primary commercial
corridors connecting Portland and Gresham, supporting tenant demand and
long-term leasing stability.
» Established East Portland / Gresham Submarket
Located within a mature and densely populated East County
submarket, the property benefits from stable surrounding
residential density, established retail amenities, and consistent
consumer demand that support long-term tenancy.
» Durable 1979 Construction with Updated Exterior Systems
Originally constructed in 1979, the property offers durable
construction while benefiting from recent modernization of
critical exterior components, effectively blending proven building
fundamentals with refreshed infrastructure.
Ownership has completed a comprehensive exterior upgrade including new
siding, a new roof, and new windows, significantly improving the building
envelope. These improvements reduce near-term capital expenditure
requirements while enhancing durability, energy efficiency, and curb appeal.
» Demonstrated Capital Commitment by Current Ownership
The substantial recent capital investment signals proactive asset stewardship
and provides incoming ownership with a well-maintained physical plant,
allowing a new owner to focus on operational performance rather than
immediate deferred maintenance.
» High-Visibility Location Along SE Division Street Corridor
Positioned directly on SE Division Street, the property benefits from strong
visibility and accessibility along one of East County’s primary commercial
corridors connecting Portland and Gresham, supporting tenant demand and
long-term leasing stability.
» Established East Portland / Gresham Submarket
Located within a mature and densely populated East County
submarket, the property benefits from stable surrounding
residential density, established retail amenities, and consistent
consumer demand that support long-term tenancy.
» Durable 1979 Construction with Updated Exterior Systems
Originally constructed in 1979, the property offers durable
construction while benefiting from recent modernization of
critical exterior components, effectively blending proven building
fundamentals with refreshed infrastructure.
Property Facts
| Price | $15,770,201 CAD | Building Class | C |
| Price Per Unit | $202,182 CAD | Lot Size | 3.02 AC |
| Sale Type | Investment | Building Size | 98,960 SF |
| Cap Rate | 7.01% | Average Occupancy | 97% |
| No. Units | 78 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1979 |
| Property Subtype | Apartment | Parking Ratio | 0.77/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | N/Av | ||
| Price | $15,770,201 CAD |
| Price Per Unit | $202,182 CAD |
| Sale Type | Investment |
| Cap Rate | 7.01% |
| No. Units | 78 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.02 AC |
| Building Size | 98,960 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 0.77/1,000 SF |
| Zoning | N/Av |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Fireplace
- Storage Space
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Deck
- Dining Room
- Freezer
- Patio
- Vinyl Flooring
- Window Coverings
Site Amenities
- 24 Hour Access
- Controlled Access
- Playground
- Property Manager on Site
- Package Service
- Storage Space
- Maintenance on site
- Online Services
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 33 | - | 675 |
| 2+1 | 4 | - | 850 |
| 2+1.5 | 38 | - | 904 |
| 3+2 | 3 | - | 1,030 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | R338182 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $6,821,154 CAD |
Property Taxes
Parcel Number
R338182
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$6,821,154 CAD
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Applegate Apartments | 17726 SE Division St
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