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Michigan Ave 6-Plex 3591 N Michigan Ave 6 Unit Apartment Building $2,616,889 CAD ($436,148 CAD/Unit) 6.16% Cap Rate Portland, OR 97227
INVESTMENT HIGHLIGHTS
- Brand New Construction Multi-Family Opportunity
- Low Maintenance Asset in Desirable Neighborhood
- All Units Currently in Lease Up
- Units Feature High Ceilings, Quartz Countertops, Exterior Patio/Deck, and Abundant Natural Light
EXECUTIVE SUMMARY
6 Unit Multifamily Opportunity on Michigan Ave in N Portland
New Construction • Condo Grade Finishes
--------------------
Sale Price: $1,900,000 ($316,667/Unit)
2025 Budget CAP Rate: 6.16%
Units: 6 Units with 2 Beds, 2 Baths
Building Gross Area: 5,520 SF
Gross Land Area: 4,875 SF
Zoning: RM1 - Residential Multi-Dwelling 1
New Construction • Condo Grade Finishes
--------------------
Sale Price: $1,900,000 ($316,667/Unit)
2025 Budget CAP Rate: 6.16%
Units: 6 Units with 2 Beds, 2 Baths
Building Gross Area: 5,520 SF
Gross Land Area: 4,875 SF
Zoning: RM1 - Residential Multi-Dwelling 1
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $2,616,889 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $436,148 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 6.16% | Building Size | 5,520 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | ||
| Zoning | RM1 - Residential Multi-Dwelling 1 | ||
| Price | $2,616,889 CAD |
| Price Per Unit | $436,148 CAD |
| Sale Type | Investment |
| Cap Rate | 6.16% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 5,520 SF |
| No. Stories | 3 |
| Year Built | 2024 |
| Zoning | RM1 - Residential Multi-Dwelling 1 |
AMENITIES
UNIT AMENITIES
- Microwave
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 6 | - | - |
1 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Biker's Paradise (91)
CONTACTS
-
Nicholas Diamond -
Riley Henderson -
George Diamond -
Michael Horter -
Capacity Commercial Group LLC
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Michigan Ave 6-Plex | 3591 N Michigan Ave
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