Portland, OR (PRWEB) January 26, 2007
Hagerman Frick O'Brien (HFO), a real estate investment firm located in Portland, Ore., recently arranged the sale of the 23-Unit Hunter's Highland Apartments, the 24-Unit Four Oakes Apartments, the 30-unit Evergreen Place, and the 18-unit Broadmore Apartments. Cody Hagerman, Greg Frick and Timothy O'Brien, brokers at HFO, handled the transactions.
The Evergreen Place Apartments, located at 4251 SE 122nd Avenue in Portland, sold for $2,650,000. This 2005 multifamily project near I-205 consists of 18 two-bedroom, one-bath apartments of approximately 866 sq. ft., and 12 two-bedroom two-bath units with about 948 square feet. The property comprises approximately 27,500 square feet and represented a price of $96 per square foot or $88,333 per unit. Rents at this outer SE location ranged from $695-$730 at the time of sale.
Hunter's Highland, located at 855 SE Hogan Avenue in Gresham, sold for $1,355,000. This 1965 multifamily project consists of 22 two-bedroom, one-bath apartments of approximately 900 sq. ft., and a one-bedroom one-bath unit of 700 square feet. The sale represented $66 per square foot or $58,913 per unit. Rents at this quiet, well-landscaped complex ranged from $495-$585.
Four Oakes, located at 11575 SW Greenburg Road in Tigard, sold for $1,260,000. Built in 1965, the multifamily project is made up of 7 one-bedroom one-bath units averaging 600 square feet, 8 two-bedroom one-bath duplexes averaging 800 square feet and 9 two-bedroom, 1.5 bath townhouses averaging 1,000 square feet. The sale represented a price of $64.29 per square foot or $52,500 per unit. Rents at time of sale ranged from $450-$585.
The Broadmore, located at 1514 NE 17th Avenue in Portland, sold for $1,360,000. This vintage 1926 bricker consists of 17 one-bedroom, one-bath apartments of approximately 535 sq. ft., and a two-bedroom one-bath unit of 656 square feet. The sale represented $96 per square foot or $75,556 per unit. Rents at this classic, close-in building ranged from $440-$680.
HFO specializes in the sale of apartment properties throughout Oregon and Washington. Using cutting edge resources, HFO helps clients find dynamic investments and offers an insider's knowledge of the local market. It is HFO's mission to create wealth for its clients by providing extraordinary service, forging mutually beneficial, long-term relationships. Learn more at HFO Investment Real Estate.
# # #