Equity Pacific is pleased to announce the sale of the Alameda 4-Plex located at 2525 NE Prescott Street, in close-in NE Portland, which has sold for $800,000 ($200,000 per unit and $169 per SF) to an all cash buyer. Multiple offers were presented, however we advised our client on a strategy that enabled our client to get control of the deal, get the property under contract, and get the deal closed.
The subject property comprises two duplexes on a single 7,750 SF corner lot. All of the units are 2BR/1BA townhouse style apartments of approximately 925 square feet. The apartments are all individually metered for electricity and feature a mixture of carpet, vinyl and hardwood flooring. Each unit has its own spacious, unfinished basement with washer & dryer hook-ups and ample storage.
This investment property is situated in the Alameda neighborhood of close-NE Portland within walking distance of Wilshire Park and many popular restaurants and retail stores along NE Alberta Street, NE Killingsworth Street and NE 33rd Avenue.
The new owners intend to continue to make improvements to the apartments to achieve top of the market rents.
Jason Waxberg represented the buyer to the transaction.
2525 NE Prescott Street | Portland, OR 97211