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Franklin Court Apartments 5104-5132 SE Clinton St 20 Unit Apartment Building $4,388,961 CAD ($219,448 CAD/Unit) 6.17% Cap Rate Portland, OR 97206
Investment Highlights
- Excellent Location
- Full-Height Basements
- On-Site Parking (20 spaces; One Per Unit)
Executive Summary
Franklin Court Apartments is a four-building, 20-unit community located in the Richmond Neighborhood of SE Portland. Each of the buildings includes five one-bedroom units and a full basement. The property includes 20 on-site parking spaces (one per unit), which is rare in the local area. The units have been lightly upgraded over the years, and there is an opportunity to complete further renovation work. Current ownership has stayed up-to-date with maintenance, and the property shows very well. The basements have potential to be improved with storage units or potentially additional apartments.
Management is in the process of implementing a rental increase that will improve the average in-place rent by 4.8%. This will increase the going in cap rate to +/- 6.2%, allowing a buyer positive leverage at closing. At full market rents, which are +/- 11% higher than current averages, the cap rate will be +/- 6.75%.
Please contact the listing brokers for additional information.
Management is in the process of implementing a rental increase that will improve the average in-place rent by 4.8%. This will increase the going in cap rate to +/- 6.2%, allowing a buyer positive leverage at closing. At full market rents, which are +/- 11% higher than current averages, the cap rate will be +/- 6.75%.
Please contact the listing brokers for additional information.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,388,961 CAD | Building Class | C |
| Price Per Unit | $219,448 CAD | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 22,160 SF |
| Cap Rate | 6.17% | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1952 |
| Property Subtype | Apartment | Parking Ratio | 1.13/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R1, Portland - Residential use (for low-density single-family or multi-family units) | ||
| Price | $4,388,961 CAD |
| Price Per Unit | $219,448 CAD |
| Sale Type | Investment |
| Cap Rate | 6.17% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 22,160 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1952 |
| Parking Ratio | 1.13/1,000 SF |
| Zoning | R1, Portland - Residential use (for low-density single-family or multi-family units) |
Amenities
Unit Amenities
- Storage Space
- Hardwood Floors
- Refrigerator
- Oven
- Basement
Site Amenities
- Laundry Facilities
- Storage Space
- Maintenance on site
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | $2,101 CAD | 520 - 690 |
Moderately walkable
70/100
Fairly drivable
50/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Total Assessment | $1,866,443 CAD (2025) | |
| Land Assessment | $0 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $0 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$1,866,443 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2026
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Franklin Court Apartments | 5104-5132 SE Clinton St
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