The latest news of interest to multifamily housing investors in Oregon and Washington.
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Monday, January 21, 2013
Exclusive Listings Sold: Two North Portland Apartment Buildings
HFO represented the parties in the $1.45 million sale of Bristol Court, a 20-unit property built in 1963 adjacent to 90-acre Pier Park in St. Johns. This unique property features one-story units with full size washers & dryers with white picket-fenced front yards and private backyards. The property had some physical challenges which HFO worked through with the buyer.
HFO’s exclusive listing the Louis York sold for $3.83 million. This 47-unit property was built in 2011. The Louis York is a new, energy-efficient building just two blocks from downtown St. Johns. Louis York presented the unique challenge of being one of the first market-rate apartments in the St Johns neighborhood. HFO’s marketing of the property highlighted its unique qualities. The HFO team successfully uncovered a buyer familiar with the location's unique obstacles.