Equity Pacific is pleased to announce the sale of the Alder Court Apartments located at 3059 SE Alder Ct in the heart of Portland’s close-in eastside between Stark and Belmont, which has sold for $1,460,000 ($182,500 per unit and $224 per SF). Multiple offers were presented on the property which was initially listed for $1,400,000. We successfully advised our client on a strategy to present the highest and best offer and secured the deal.
Built in 1969 this 8-plex investment property comprises six 2BR/1BA units of approximately 850 SF and two 1BR/1BA units of approximately 700 SF in two adjacent buildings. The apartments are all individually metered for electricity and feature dishwashers and spacious floor plans. There is off-street parking, on-site coin-op laundry, and a private park-like garden area in the back of the property.
The buildings feature new pitched composition tear-off roofs, and cedar and Hardie-Plank siding in good condition. The vinyl windows are newer and the asphalt parking area has recently been upgraded. A new water service line was recently installed as well as an ABS sewer line.
Located just a few minutes from Laurelhurst Park and close to Whole Foods market, as well as many popular restaurants, bars, retail stores in the immediate neighborhood, the Alder Court Apartments are situated on a quiet street and scores a “90” as a Walker’s Paradise and a “96” as a Biker’s Paradise.
Jason Waxberg represented the buyer to the transaction.
3059 SE Alder Court | Portland, Oregon 97214