8332 SW 21st Ave Portland, OR 97219

Size10,320 SF
Cap Rate7.62%

Timber Terrace presents a great opportunity for an investor to acquire a value-add asset in a desirable location with a proven strong rental market.

Located in Southwest Portland, Timber Terrace is conveniently located near the I-5 corridor with easy access Multnomah Village, downtown Portland, OHSU and PSU. With proximity to essential shopping, dining and entertainment, Timber Terrace provides residents great flexibility.

Built in 1978 Timber Terrace is a fourteen (14) unit apartment complex comprised of (3) 1 bed/1 bath and (11) 2 bed/1 bath units. The units average 674 square feet and 774 square feet, respectively.

This property presents investors with an opportunity to acquire a value-add asset in a desirable location and capitalize on the below market rents, 17% and 23% for 1-and 2-bedroom units, respectively while. Timber Terrace is expected to benefit from continued long-term demand for Southwest Portland. This is reflected in comparable Market Rents which average $1,495, $1,695 for 1- and 2-bedroom units, respectively.

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