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… Read More 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. Read Less
Listing courtesy of SMI Commercial Real Estate LLC.
Listing Snapshot
Days Online
0
Last Updated
Square Ft.
36,693
Lot Size
1.43 Acres
Year Built
1993
MLS Number
185390634
30 Days Snapshot Of 97215
$722k
-2%
(avg) sold price
29
+45%
homes sold
16
-54%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Building Area Total: 36693, Built in 1993, Stories: 3, Unit Type Type: UnitTypeType1, UnitTypeType2
All information provided is deemed reliable but is not guaranteed and should be independently verified.
This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
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