Equity Pacific is pleased to announce the sale of the Prager Lombard 8-Unit Mansion located at 2032 NW Everett Street in Portland, Oregon for $1,775,000 or $247 PSF.
The current owners have invested heavily in creating two additional luxury apartments on the top floor, each with matching period detail. These new units conform to the historic building renovation guidelines, as the building is a designated Historic Portland Landmark and listed on the National Register of Historic Places. The Oregon Inventory of Historic Resources deemed it to be “an excellent example of the Queen Anne Style in Portland.”
The Prager Lombard Mansion features significant architectural character and detail on its façade, with period ornamental finishes, while also offering many significant, recent upgrades.
Today the Prager Lombard Mansion is more magnificent than ever.
The entire building has been improved with a fire sprinkler and alarm system that provides coverage for all of the apartments, the common hallways and the basement. All six of the original apartments have been improved and upgraded. There is a brand new architectural pitched composition shingle roof with a 50-year warranty, and all new metal gutters. The property is professionally managed, and there is an entry control system to enhance safety and security. The private courtyard landscaping has been improved with pathways and new plants to create privacy. All of the apartments are individually metered for electricity and gas, and there are monthly bill backs in place for water/sewer.
The Prager Lombard Mansion comprises one (1) 1BR/1BA apartment of approx. 886 SF, one (1) 1BR/1BA apartment of approx. 700 SF, three (3) 1BR/1BA apartments of approx. 621 - 633 SF, two (2) studio apartments of approx. 400-527 SF, and one (1) studio apartment of approx. 363 SF with a new custom Murphy bed. The apartment interiors feature warm period details with hardwood and tiled floors. There is a common basement comprising approximately 2,100 SF which features newer individual gas furnaces and individual hot water heaters for each apartment. There is also a coin-op washer and dryer for the tenants to share, which generates additional income, as well as individual storage lockers.
The Prager Lombard Mansion is located on the corner of NW 21st & Everett in the heart of Portland’s most sought after neighborhood. Situated within walking distance to restaurants, parks, schools, supermarkets, retail stores, Providence Park, and a wide variety of transportation options, tenants here in the Alphabet District are just minutes from downtown Portland, the Pearl District and all the amenities the City has to offer.
Jason Waxberg represented both the buyer and the seller to the transaction.
2032 NW Everett Street, Portland, Oregon 97209