The Ridge 12027-12069 SE Foster Rd Immeuble residentiel 33 lots 5 901 207 € (178 824 €/Lot) Taux de capitalisation 6,11 % Portland, OR 97266

The Ridge consists of 33 townhouse style units with rental upside in one of SE Portland’s most active rental submarkets. Located on SE Foster and 120th Ave., The Ridge was built in 1997 and sits on a 1.67-acre private lot with mature landscaping, providing a true home feel for its residents.
The property has eight 4-plexes and a stand-alone building with one unit. All 33 units are townhouse style, 27 of which have attached garages. The unit mix is comprised of 30 large 2-bed/1.5 bath at 1,015 SF, one 2-bed/1 bath unit at 915 SF, and two 3-bed/2.5 baths units at 1,250 SF. Units feature a large master bedroom with dual closets, full kitchens, full-size washer/dryers, vinyl windows, and back patios.
Priced below replacement cost, average rents are nearly 10% below market, providing immediate upside for a new owner through getting rents up to market.
Tenants enjoy the location, five minutes from I-205, I-84, and the Max light rail line. Bus lines #10 and #73 have stops nearby, and for the outdoor enthusiasts, the Springwater Trail is right down the street, consisting of a 40-mile loop regional trail system that encircles the greater Portland area used for walking and biking. Additionally, multiple parks are within blocks of the property, including Leach Botanical Garden, the Brookside Wetland area, and the Foster Natural Area.
Nearby shopping includes a variety of retail options along both SE 82nd Ave and the Powell Villa Shopping Center, with a Safeway and Ace Hardware, among other national retailers. Downtown Portland is six miles from the property, while Gresham, Happy Valley, and Clackamas are all within five miles.
Available as a Portfolio with The Willows at 13515 SE Holgate Blvd, Portland, OR.