Thursday, November 13, 2008

In Contract - Prime NW Portland Apartment Investment Property and Development Opportunity $3.8 Million

The Elysian Garden Apartments are located at 2631 NW Upshur in Portland, Oregon.  Built in 1926, these apartments have a total of 38 units consisting of (15) studio units, (18) double studio, (3) 1-bed 1-bath units, and (2) 2-bed 1-bath units.

Elysian Garden is an exceptionally hard to find apartment complex in the close-in NW Portland neighborhood and is currently operating very successfully as an apartment building. Buyer can obtain conventional financing or develop right away.

This desirable property consists of nearly a full acre with two additional sites totaling approx. 20,000 sq. ft in this block also for sale for combined development potential. This property makes sense either as is or as a development property and is priced attractively for either option. The property has a pre-approved zoning variance to 60 feet high.

Please do not disturb tenants or on-site manager. Viewing by appointment only. For information please contact Tim O'Brien at 503-241-5541.