Chuck graduated from the University of Oregon with a B.S. in Economics and was involved in the management of multiple apartment properties on the University of Oregon campus before becoming active in brokerage. Chuck specializes in multifamily investment sales and was the senior multifamily broker in two national real estate firms prior to joining Equity Pacific Real Estate LLC. Since 2004 Chuck has been honored with a National Achievement Award in addition to Top Listing Agent recognition.
CHUCK'S SALES STUDIES
THE SANTA LUCIA
$2,100,000 | 8 UNITS
The property is located in the Sunnyside neighborhood of close-in SE Portland. This amazing location offers tenants easy walking or biking proximity to Laurelhurst Park, Colonel Summers Park, Whole Foods, popular restaurants, coffee shops, schools, and a wide variety of retail stores highly sought by investors and tenants alike. Built in 1908, this investment property is full of beatiful detials. Unit interiors feature a mixture of hardwood and marmoleum in the living areas and tile in the bathrooms. The apartments also have charming period details such as built-ins and claw-foot bathtubs. A majority of the units have dishwashers and garbage disposals. The new owners intend to continue to make improvements to the apartments to achieve top of the market rents.
THE HERITAGE VILLAGE APARTMENTS – LOCATION
$13,045,000 | 176 UNITS
The Heritage Village Apartments were built in 1975 and comprise of 176 total units. The property is situated on over 10 acres of well-manicured grounds adding to the community’s low density park-like appeal. Units range in size from 600 square feet to 864 square feet and offer balconies or patios, dishwashers, disposals and spacious additional storage/closet space. Equity Pacific had placed the seller into an upleg purchase for a 1031 Exchange and had minimal time to market and sell the downleg property (Heritage Village). Multiple offers were generated from highly qualified buyers after a swift and targeted marketing campaign. The strongest buyer was chosen who performed as promised and closed the transaction for 97% of listing price.
CASCADE VIEW APARTMENTS
$7,700,000 | 126 UNITS
Cascade View is conveniently located in NE Salem and benefits from its close proximity to Chemeketa Community College, Lancaster Mall, and Salem’s downtown district. The Cascade View Apartments comprise of 16 buildings totaling 126 units on roughly 6.58 acres. Built in 1994 and 1995, all units consist of two bedrooms and one bathroom totaling approximately 840 square feet each. Equity Pacific managed an escrow process that took nearly one full year as both buyer and seller settled their 1031 exchanges. New ownership plans to slowly upgrade the property and bring rents to market levels. Equity Pacific represented both buyer and seller in the transaction.
COUNTRY CLUB MANOR APARTMENTS
$1,960,000 | 43 UNITS
Located in Umatilla, Oregon Country Club Manor was built in 1977 with extensive remodel in 2013-14. The property offered over 10% immediate cash flow based on the in-place income and expenses and over 17% cash flow after stabilizing at market levels. Marketing Country Club Manor presented particular challenges as Umatilla is a much smaller, more tertiary sub-market. Equity Pacific welcomed the challenges and were able to locate and identify several qualified investors. The most qualified buyer submitted the strongest offer and swiftly completed their due diligence ultimately resulting in a successful close of escrow.
PARK REGENCY APARTMENTS
$2,445,000 | 15 UNITS
Located in the heart of the Hollywood neighborhood in close-in NE Portland, this attractive two-story property built in 1969 features cedar and brick siding and has been very well maintained. Park Regency is located near Whole Foods, Trader Joe’s, 24-Hour Fitness, Providence Hospital, the Hollywood Theater and a wide variety of retail stores, coffee shops, parks, schools and public transportation.
Equity Pacific secured the sale of the property against multiple competing offers. The new owner intends to upgrade the property to realize the building’s pride of ownership potential and achieve higher, market level rents.