This 76-unit garden style apartment community was constructed in 1986 and has been well maintained by prior ownership. The property consists of spacious one and two-bedroom units, all equipped with washers and dryers, in addition to a swimming pool, luscious landscaping, covered parking, and a leasing office. The opportunity lies in renovating the interiors of the units and the amenities to modern finishes, thereby increasing market rents and value of the asset. The Beaverton market is experiencing rapid growth as Nike plans to expand its facilities with a $380 Million expansion, adding more jobs to its current 8,700 employment count. The property is in a major employment corridor within minutes of employers such as Intel, Salesforce, Yahoo, Oracle, and Tektronix.
- No. of Units:: 76
- Acquisition Price:: $12,250,000
- Renovation Costs:: $1,254,400