Madrona Park Apartments

Description:

Madrona Park Apartments is a seven (7)‑unit, garden‑style apartment community located in the Gresham‑Centennial submarket of Portland. Built in 1976, the two‑story, 5,600‑square‑foot property is comprised entirely of seven (7) two‑bedroom, one‑bath floorplans, offering a straightforward and efficient unit mix that appeals to a broad renter base. The two‑bedroom units are currently achieving an average rent of $1,200 per month, while comparable units in the market average $1,450 per month based on your rent survey, representing nearly eighteen (18) percent upside on in‑place rents through renovation and operational improvements.

Madrona Park Apartments offers investors a rare opportunity to acquire a small‑scale, well‑maintained asset with significant rent‑growth potential and a clear value‑add strategy. Its simple two‑bedroom unit mix, 1970s construction, and manageable size allow for efficient operations, while the nearly eighteen (18) percent rental upside provides a compelling path to meaningful income growth. Located within close proximity to regional transit, retail corridors, and Downtown Portland, Madrona Park stands out as an attractive investment for buyers seeking a high‑upside, approachable value‑add opportunity with strong long‑term fundamentals.

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