Pheasant Court Apartments
7015 SE Lake Rd, Milwaukie, OR 97267
No Photo Available
Price$3,125,000
Number of Units19
Building Size18,950 sqft
Price/Unit$164,474
Property TypeMultifamily
Cap Rate6.91%
Highlights
- Steady Occupancy — Long term tenants
- Rental Income — Upside in Rents
- Recently Upgraded — Majority Newly Remodeled Units
- Laundry Amenities — Washer/Dryer Hook-Ups in 20 Units
- Location — Prime Location for Commuters
- Parklike Setting — Quiet Setting with Mature Landscaping
Description
Built in 1970, the Pheasant Court Apartments are in a prized location in high demand. With twenty two-bedroom/one-bath units and two three-bedroom/one-bath units, the property totals 22 apartment homes. The property has had recent upgrades to the majority of its units which include flooring, cabinets, and appliances. In addition, the Pheasant Court Apartments boast spacious floorplans, a quiet parklike setting, and great location. All units have a private balcony and/or patio with all new wood railings, supports, and flooring.
The Pheasant Court Apartments are comprised of four two-story buildings with wood frame construction, vinyl windows, and pitched composition roofs.
Financial Summary
- Pro Forma NOI: $215,970
- Pro Forma Cap Rate: 6.91%