russell hosner portland, oregon 97223 russell hosner real...

Russell Hosnerreal estate investment services



Russell HosnerOne Lincoln Center

10300 SW Greenburg Rd Suite 490Portland, Oregon 97223

22 UNIT APARTMENTS – NEW CONSTRUCTION422 NE Dekum Street | Portland, OR

» Estimated completion date October 2017

» Spacious contemporary units

» Energy efficient appliances and fixtures

» Laundry in unit

» Walk score of 82, bike score of 89

FOR SALE

For more information, contact:

Drew Russell503-816-4539

[email protected] Hosner

[email protected]

PROPERTY HIGHLIGHTS

Exterior

» Private balconies

» Low maintenance exterior finishes

» Large, bright windows

» Secured entry

» Built by Joseph Hughes Construction

Interior

» Contemporary finishes

» Stainless steel appliances

» Air conditioning

» High-end vinyl plank flooring

» Full size laundry in each unit

» Spacious closets

Year Built 2017 Laundry Room in unit

Lot Size 5000 SF Heating Electric

Exterior mixed Hot Water Electric

Parking on street Cable TV yes

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied , as to the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Dekum 2 Apartments | Portland, OR


1st Floor

Typical Floor




AREA HIGHLIGHTS | AMENITIES

Dekum Apartments

1. Taco Bell 2. Teriyaki Heaven 3. Georgie’s Ceramic & Clay4. Mongolian Grill5. Sit Stay Fit6. Classic Foods 7. Double J Tire Center8. The High Water Mark9. Firehouse10. Upcycles11. Koken Market12. Oregon Kombucha13. Woodlawn Coffee & Pastry14. Breakside Brewery15. Cafe Eleven16. Henry V17. Parr Lumber18. Starbucks19. Walgreens20. Popeyes Lousiana Kitchen21. Safeway22. Western Union23. Bank of America24. Fish Fusion25. Wells Fargo26. Bennie’s Little Kicker BBQ27. Wing’s World Chicken & Waffles28. KFC29. Subway30. Boost Mobile31. Dream Nails32. US Bank33. Van’s Auto Shop34. U-Haul35. Knockout Taco36. Catalina’s37. Piedmont Station Food Carts

3

10

17

19

33

30

5

7

16

34

23

22

25

31

32

1 2

8

11

15

18

20 21

24 26 27

29

35 36 37

28

12

9

6

13

14

4

Dining

Shopping/Entertainment

Lifestyle



SALES COMPARABLES

Prepared for 5/10/2017

(503) [email protected]: 970800033

1

2

3

4

5

6

7

8

9

10

11

Sale Map w/ Line Item Report for Multifamily Properties in Portland, OR

Map

Property Address Sale Date Sale Price Property Type Subtype

1315 Nw 19th Avenue Portland, OR 02/01/2017 $20,150,000 ($366,363.64/Unit) Multifamily Garden/Low-Rise

3916 Sw Corbett Avenue Portland, OR 02/01/2017 $15,000,000 ($340,909.09/Unit) Multifamily Garden/Low-Rise

8338 N Interstate Avenue Portland, OR 01/31/2017 $14,000,000 ($245,614.04/Unit) Multifamily Garden/Low-Rise

1250 E Burnside Street Portland, OR 12/09/2016 $39,000,000 ($295,454.55/Unit) Multifamily Mid/High-Rise

1650 Se Harold Street Portland, OR 07/29/2016 $3,500,000 Multifamily Garden/Low-Rise

33 N Beech Street Portland, OR 04/29/2016 $6,750,000 ($355,263.16/Unit) Multifamily Garden/Low-Rise

405 Ne Mason St Portland, OR 04/20/2016 $8,300,000 ($230,555.56/Unit) Multifamily Garden/Low-Rise

3939 Sw View Point Terrace Portland, OR 04/18/2016 $3,700,000 ($308,333.33/Unit) Multifamily Garden/Low-Rise

3225 Ne M L King Boulevard Portland, OR 04/14/2016 $3,200,000 ($213,333.33/Unit) Multifamily Garden/Low-Rise

4216 N Mississippi Avenue Portland, OR 04/13/2016 $14,048,650 ($439,020.31/Unit) Multifamily Garden/Low-Rise

550 Nw 19th Avenue Portland, OR 03/22/2016 $42,500,000 ($416,666.67/Unit) Multifamily Garden/Low-Rise

Presented by Drew RussellRussell Hosner, LLC

2 miles

© 2017 Microsoft Corporation © 2010 NAVTEQ © AND

2 miles

© 2017 Microsoft Corporation © 2010 NAVTEQ © AND

Property Address Sale Date Sale Price Property Type Subtype

12

13

14

312 Ne Monroe Street Portland, OR 02/29/2016 $2,850,000 ($237,500/Unit) Multifamily Garden/Low-Rise

446 Ne Simpson Street Portland, OR 02/05/2016 $82,500 Multifamily Garden/Low-Rise

3731 Sw Water Avenue Portland, OR 01/29/2016 $3,000,000 ($250,000/Unit) Multifamily Garden/Low-Rise

PRO FORMA INCOME AND EXPENSESPRO FORMA INCOME AND EXPENSES



SCHEDULED GROSS INCOME

Units Type Avg. SFAnticipated Rent per mo

Anticipated Annual Total

Market Rent per mo

Market Annual Total

9 Studio 389 $1,195 $129,060 $1,250 $135,000

6 1Br/1Ba 465 $1,295 $93,240 $1,325 $95,400

3 1Br/1Ba 515 $1,395 $50,220 $1,425 $51,300

2 1Br/1Ba 517 $1,425 $34,200 $1,450 $34,800

2 Live work 600 $1,595 $38,280 $1,650 $39,600

22 $345,000 $356,100

OPERATING SUMMARY

Anticipated MarketAnnual Gross Scheduled Income $345,000 $356,100

Less: 5% Vacancy & Credit Loss: ($17,250) ($17,805)

Plus: Utility Bill Back: $13,200 $13,200

Plus: Laundry and Misc. Income $500 $500

Effective Gross Income: $341,450 $351,995Estimated Expenses:

Taxes: $22,000 $22,660

Insurance: $2,500 $2,700

Management 8%: $27,316 $28,160

Utilities (est): $18,700 $18,700

Maintenance/Repairs/Supplies (est): $8,536 $10,560

Turnover ($150/unit/yr at 50%): $1,650 $1,650

Incentives & Misc: $1,500 $400

Reserves ($200/unit/yr): $5,500 $5,500

Landscaping: $1,500 $1,500

Total Operating Expenses: $89,202 $91,829

Per Unit: $4,055 $4,174

Percent of EGI: 26% 26%

Net Operating Income: $252,248 $260,166

Asking Price: $5,500,000 $5,500,000

Cap Rate: 4.59% 4.73%

Price Per Unit: $250,000 $250,000

Dekum 2 Apartments422 NE Dekum Street

Portland, OR

Price: $5,500,000


INVESTMENT OFFERING ANALYSISAsking price: $5,500,000

Down Payment: $2,200,000

New First: $3,300,000

New first mortage at 3.5% 3 year

Current MarketNet Operating Income: $252,248 $260,166

Less Debt Service: $177,816 $177,816

Pre-Tax Cash Flow: $74,432 $82,350

Cash on Cash Return: 3.38% 3.74%

russell hosner portland, oregon 97223 russell hosner real...

Documents