Property Listing No Longer Available for Sale

4400 SE Naef Road, Milwaukie, OR

Multi-family for Sale - $11,700,000 - 132,462 Sq. Ft.


Property Info

CIMLS#324887
Location
  4400 SE Naef Road
  Milwaukie OR 97267
UpdatedJanuary 23rd, 2012
TypeMulti-family
Price$11,700,000
Building132,462 Sq. Ft.

Property Description

Description:Chesapeake Pointe is a tremendous opportunity to invest in the epitome of strategic apartment acquisitions where high barriers to entry exist. This property is a well-located low-density oasis that offers a park-like feel just minutes from downtown Portland. Chesapeake Pointe has been well maintained but offers significant upside potential through strategic repositioning via additional capital improvements to take advantage of the strengthening rental market. To see the property flyer and sign a confidentiality agreement and request access to the full Offering Memorandum: Click here.

Price: $11,700,000

Status: Available

County: Clackamas

Unit: 159

Unit Mix: (96) 1-bed 1-baths, (36) 2-bed 1-baths, and (27) 2-bed 2-baths.

Hot Tub: Y

Floors: 2

Patio/Deck: Yes

Cover Parking: 52 spaces

Siding: Hardi

Heat Type: Electric

Fire Place: In Penthouses

Storage: Yes

Pool: Yes

Roof Type: Composite

Garages: 59 detached garagesYear Built: 1988

Building Size: 132,462

Land Size: 5.44 Acres

Unit Price: 73585.0000

Price per SF: 88.3300

CAP Rate: 6.15%

Rec Room: Yes

Fitness Center: Yes

Open Parking: 137 Open Striped Spaces

Laundry Room: Yes

WD Hookup: In 2-bedrooms

Rental Office: Yes

On Site Manager: Yes


Financials