Equity Pacific is pleased to announce the sale of the 26-Unit Prairie House Apartments located at 1105 SW 17th Street in Hermiston, Oregon which closed for $1,450,000 or $55,769 per unit and $58 PSF.
The Prairie House Apartments were built in 1978 and comprise five (5) apartment buildings totaling approx. 24,992 net rentable SF situated on two (2) tax parcels totaling 2.52 Acres. The twenty six (26) apartment units comprise three (3) 3BR/2BA Town House units of approx. 1,370 SF, eleven (11) 2BR/1.5BA Town House units of approx. 1,078 SF, six (6) 2BR/1BA units of approx. 902 SF, and six (6) 1BR/1BA units of approx. 604 SF.
These very spacious apartments average 960 SF, and each has a conventional wood-burning fireplace. The open interiors feature carpet and vinyl flooring and vaulted ceilings in the Town Homes. Each unit also features a private balcony or patio.
The property was sold with all new membrane roofs installed as of April, 2019. There are ten (10) garages, five (5) storage units and an on-site laundry center which generates additional income.
Hermiston, Oregon is a city on the western side of Umatilla County, and is one of Oregon's fastest growing and most affordable communities. Hermiston is located at the intersection of two major interstates (I‐82 and I‐84), and several state highways, with a rail line, port and a municipal airport. It is rapidly becoming a logistics hub for eastern Oregon and southeastern Washington.
Jason Waxberg represented the buyer to the transaction.
1105 SW 17th Street, Hermiston, Oregon 97838