723 SE 60TH AVE Portland, OR 97215
Price:
$7,500,000
Units:
34
Acres:
1.43
Unit 1:
1 Bed 1.0 Bath
Unit 2:
1 Bed 1.0 Bath
Unit 3:
1 Bed 1.0 Bath
Unit 4:
1 Bed 1.0 Bath
Unit 5:
1 Bed 1.0 Bath
Unit 6:
1 Bed 1.0 Bath
Unit 7:
1 Bed 1.0 Bath
Unit 8:
1 Bed 1.0 Bath
Unit 9:
1 Bed 1.0 Bath
Unit 10:
1 Bed 1.0 Bath
Unit 11:
1 Bed 1.0 Bath
Unit 12:
1 Bed 1.0 Bath
Unit 13:
1 Bed 1.0 Bath
Unit 14:
1 Bed 1.0 Bath
Unit 15:
2 Bed 2.0 Bath
Unit 16:
2 Bed 2.0 Bath
Unit 17:
2 Bed 2.0 Bath
Unit 18:
2 Bed 2.0 Bath
Unit 19:
2 Bed 2.0 Bath
Unit 20:
2 Bed 2.0 Bath
Unit 21:
2 Bed 2.0 Bath
Unit 22:
2 Bed 2.0 Bath
Unit 23:
2 Bed 2.0 Bath
Unit 24:
2 Bed 2.0 Bath
Unit 25:
2 Bed 2.0 Bath
Unit 26:
2 Bed 2.0 Bath
Unit 27:
2 Bed 2.0 Bath
Unit 28:
2 Bed 2.0 Bath
Unit 29:
2 Bed 2.0 Bath
Unit 30:
2 Bed 2.0 Bath
Unit 31:
2 Bed 2.0 Bath
Unit 32:
2 Bed 2.0 Bath
Unit 33:
2 Bed 2.0 Bath
Unit 34:
2 Bed 2.0 Bath
MLS#:
185390634
Lot Size:
1 to 2.99 Acres
Type:
Multi
Zone:
RM1
Yr Built:
1993
Taxe/yr:
$79,991.86
County:
Multnomah
Status:
Active
Levels:
3
Heat:
Other
Elem:
Glencoe
Middle:
Mt Tabor
High:
Franklin
Area:
Portland Northeast
Courtesy of:
SMI Commercial Real Estate LLC
Remarks:
Wingsong Apartments offers the opportunity to acquire a high-quality 34-unit apartment community in one of Portland’s most desirable eastside neighborhoods, with attractive in-place financing (sub-3.5%) and clear rent growth potential.Built in 1993, the property consists of 34 large, open-layout units with a highly desirable unit mix. Apartments feature spacious floor plans, and a unit mix weighted toward large two-bedroom two bathroom layouts that support strong tenant demand and long-term retention. Full size in-unit washer dryers, private balconies and patios, and ample greenspace. Garages and off-street parking further, in a neighborhood where parking can be limited, support long-term tenant demand and operational stability.The property has been well maintained and does not require significant near-term capital investment, allowing a new owner to focus on operations. In-place rents trail comparable Mt. Tabor area assets when considering unit sizes, parking, and overall livability, creating a clear opportunity for income growth through a measured rent strategy. For buyers seeking additional upside, modest, high-ROIcosmetic improvements can be implemented over time to further support rent growth and long-term value.The offering is further enhanced by attractive assumable financing with a 3.43% fixed interest rate through 2031. This provides immediate positive leverage and protection against today’s higher interest rate environment, materially improving yield and cash flow. Located near Mt. Tabor Park and close-in East Portland amenities, Wingsong benefits from consistent renter demand and long-term neighborhood appeal. Assets of this quality and scale rarely trade with both operational upside and favorable in-place debt.
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