National Commercial Auctioneers (www.natcomauctions.com) announces the foreclosure auction of a fully-leased, 14-unit apartment complex in Portland, Oreg., on August 26 at 10am PDT, according to Stephen Karbelk, CAI, AARE, President.
“What an excellent investment opportunity,” explained Karbelk. “This is a fully-leased complex consisting of 10 three-bedroom / one bathroom units and four three-bedroom / one and a half bathroom two-story units. All apartments but one include a one-car garage.”
Located at 737 SE 187th Avenue in Portland, the complex known as the Patricia Anne Apartments is a garden-style community with seven buildings totaling 14 two-story units with 1,127 square feet each. The standard unit layout includes a kitchen, living room/dining room on the main level and three bedrooms and a full bath on the upper level. The units have standard kitchen appliances, including: refrigerators, ranges with exhaust hoods, dishwashers, and washer and dryer connections.
The buildings are heated and cooled by electric baseboard and electric radiant systems. Each unit is individually metered for electric. Water, sewer, and garbage are included in the monthly rent. Each apartment contains a 50-gallon electric water heater.
The property has established landscaping with an irrigation system throughout the complex. Chain link fencing lines the rear and south perimeters. A single entrance drive provides access with an asphalt-paved street and concrete driveways.
“Public transportation, shopping and restaurants are minutes from the property,” said Karbelk. “This is a rare opportunity to buy a fully leased multi-family complex.”
Bidders must register prior to the auction. The terms of sale require payment in full at the auction. Please see the foreclosure notice for complete terms and conditions. Broker participation is encouraged. For more details about the property, including how to obtain a property information package, visit www.natcomauctions.com or call toll free (877) 895-7077.
