Equity Pacific is pleased to announce the sale of the Santa Lucia Apartments located at 2934 SE Morrison Street in Portland, OR. The property sold for $2,100,000 ($262,500 per unit and $259 per SF). 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 comprises one 3BR/1.5BA apartment of approximately 1,110 square feet, two 2BR/2BA apartments of approximately 1,280 square feet, one 2BR/1BA apartment of approximately 832 square feet and four 1BR/1BA apartments of approximately 690 – 750 square feet. 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 clawfoot 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.
Chuck Brazer represented the buyer to the transaction.
2934 SE Morrison Street | Portland, Oregon 97214