On the Market: 5 Interesting Listings for the Week of 8/28
This week's listings include a newly renovated property in Whittier, Calif., with an abundance of amenities and a historic asset with original 1912 architecture in the trendy Portland neighborhood of Hollywood.
On the Market is a weekly department curating the most interesting recent for-sale CRE assets. If you have a commercial real estate asset that you’d like to share with our readers, please email it to Associate Editor Mallory Bulman.
Arbor Heights
Location:Â Tigard, Ore.Â
Avg. Rent: $1,346
Rentable SF: 285,260
Avg. Unit Size: 820 SF
Units: 348
Features:Â Located on 27.9 acres; built in 1997, making the investment a value-add opportunity; occupancy at 95 percent; located within Portland MSA with easy access to top retail centers and employment hubs; recently renovated common areas allow investor to focus on unit upgrades for rent premiums; Portland is the second metro in the nation for year-over-year growth.
Contact:Â Gail Neuburg, ARA Newmark, 503-502-1287
Citrus Court Apartment Homes
Location:Â Whittier, Calif.Â
Avg. Rent: $1,519
Rentable SF:Â 115,926
Avg. Unit Size: 831Â SF
Features:Â Apartments feature fully equipped kitchens, stainless steel appliance packages, newly renovated interiors, vinyl plank flooring, central air and heating, cable and internet capabilities; amenities include two swimming pools, a fitness center, playground, picnic and barbecue areas, a courtyard, pet park, business center, clubhouse, carports and gated/controlled access.Â
Contact:Â Shane Shafer, Berkadia, 949-223-0876
1504 Q Street
Location: Sacramento, Calif.
Building Size: 3,069 SFÂ
Lot Size: .14 acres
Units: 3
Features: Luxury property in Midtown Sacramento; property consists of three high-end apartments; recent interior improvements include kitchen and bath improvements, a new central HVAC system, new electrical and  plumbing throughout; exterior improvements include new drought-resistant landscaping and a large Redwood deck; approval and entitlements for two additional residential units above garages at the rear of the property.Â
Contact: Brian Nelson, Colliers International, 916-830-2576
Wolcott Apartments
Location:Â Chicago, Ill.
Price: $1.1 million
Building Size: 9,600 SF
Price/Unit: $183,333.33
Units: 6
Features: Three-story property built in 1928; unit mix consists of five two-bedroom/one-bathroom and one two-bedroom/two-bathroom apartments; units range between 1,500 and 2,100 square feet; property has two three-car garages in the back of the building; two washers, two dryers and storage lockers for each unit; rent premiums could be achieved with cosmetic upgrades to kitchens, bathrooms and additional bedrooms; property is located in the West Rogers Park neighborhood on Chicago’s north side.Â
Contact:Â Luke Lesniewski, Kiser Group, 219-309-5938
Hollywood 7-Plex
Location:Â Portland, Ore.Â
Price: $1.6 million
Price/Unit: $235,714.29
Building Size: 4,600Â SF
Units: 7
Features:Â Historic property built in 1912; located in sought-after Hollywood District; unique details include finishes, original architecture and woodwork; outdoor space and gardens; off-street parking.
Contact:Â Jeff Gibbs, PDX Investment Properties, 503-260-4867
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