Just closed on a 47 unit "courtyard style" multifamily in Portland!

[AJ Shepard]

Investment Info:

Large multi-family (5+ units) buy & hold investment in Portland.

Purchase price: $10,850,000
Cash invested: $100,000

Contributors:
Trent Werner, Chris Shepard

GP Investment. Cedar Mill Courtyard Apartments was built in 1972 and includes four total buildings. It has 47 units with 70 asphalt parking spaces and a parking ratio of 1.6 spaces per unit. The general mix of the units is (17) one-bedroom, one-bath one-story flats, (12) two-bedroom, one-bath one-story flats, (8) two-bedroom, one-bathroom townhome style units, (4) three-bedroom, one-bathroom one-story flats, and (6) three-bedroom, one-bathroom townhome style units. The property is in the Cedar Mill neighborhood of Northwest Portland.