The King

$3,660,000

3255 Northeast Martin Luther King Junior Boulevard, Portland, OR 97212

For Sale

Unknown Listing Type

Active

Last Updated: 10/16/2023

Details:

Cap Rate: 5.1%

NOI: $186,750

Building Size: 9,288 sqft

Lot Area: 0.18 acres

Units: 15

Occupancy: 100%

Year Built: 2013

Zoning: CM3

Floors: 2

Heating: Central

Cooling: Central

Offered by

Cameron Schwab

Licensed Oregon Commercial Broker // Team Schwab

KW Commercial

#201220872

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Description:

The King is part of a three apartment portfolio also including The Louie and The Martin. They are three unique apartment buildings in NE Portland stylish core. They feature 41 amenity rich apartment units. These include in unit washer and dryers, balconies, hardwood floors, dishwashers, stainless steel appliances, and more. The total sale price is $10,600,000.

North Eliot is a lifestyle rich, walkable neighborhood containing shops, breweries, restaurants, chain stores, and grocery stores. The apartments are well connected, being on MLK JR Blvd, Portland's primary North-South surface road. They are within the I-5 corridor and and are served by Trimet Bus Line 6. Legacy Emanuel Hospital, the Moda Center, the Lloyd Center, and several Portland Public Schools are within walking distance.

Walk Score of 89 and Bike Score of 99

100% Occupancy

Easy access via I-5, I-84, and Trimet Line 6

Amenity-rich units