Park Place 2628 NE Red Sunset Dr Immeuble residentiel 20 lots 3 288 140 € (164 407 €/Lot) Taux de capitalisation 5,68 % Gresham, OR 97030

Introducing Park Place Apartments, a 20-unit apartment community located in the heart of Gresham, OR. Built in 1990, this well-maintained property offers a mix of spacious two- and three-bedroom layouts. Each unit features fully equipped kitchens with dishwashers, fireplaces, durable plank flooring, in-unit washers and dryers, and private balconies or patios. Residents benefit from off-street parking, available garages, and a pet-friendly environment. Park Place underwent significant capital improvements in 2018, including updated flooring, carpet, painting, electrical, and siding, enhancing its long-term appeal. Additionally, over 50% of the units have also been turned over in the past four years with moderate to heavy renovations. Park Place presents an immediate value-add opportunity to continue the previous ownership’s renovation scope on the remaining classic units and bring rents to market rates.
Strategically positioned just minutes from Gresham’s vibrant city center, Park Place offers residents exceptional access to major shopping destinations like Gresham Station and Gresham Town Fair, featuring over 140 national and local retailers. Additionally, the property is less than two miles from Mt. Hood Community College, a key educational hub serving 28,000 students and employing over 1,800 staff, further driving consistent rental demand. With its prime location and modern amenities, Park Place Apartments presents a compelling investment opportunity in the growing Gresham rental market.