SOLD! Raleigh Hills Townhomes| $1,225,000
5 INDIVIDUALLY DEEDED UNITS
Equity Pacific is pleased to announce the sale of the Raleigh Hills Townhomes located at 3336-3388 SW 90th Ave. in Portland, OR. The property sold for $1,255,000 which was $5,000 over the list price ($251,000 per unit and $115.56 per SF). The Raleigh Hills Townhomes were built in 2000 and are comprised of very large 1,500 SF 3bd/2.5ba townhouse style units. All units included tandem two-car garages, private balconies and patios and full size washers & dryers. The units were primed to have rents stabilized at market levels which will generate an 8% increase of annual cash flow. These units in particular offered a very unique opportunity as all units were separately deeded and owned by the same seller. This rare case allows for units to easily be sold off individually in the future or they can continue to be operated as a “5-plex”.
Equity Pacific aggressively marketed the property and targeted buyers who understood both the residential and multifamily components of the property. After generating several interested parties, a final buyer was chosen who presented an over list price offer that was all-cash. The buyer swiftly completed their due diligence and the property was successfully closed.
Chuck Brazer represented the seller to the transaction.