Legacy Owned Value-Add Opportunity

22nd Ave Townhouse Apartments, located at 1204 NE 22nd Avenue (The Property), is a 16-unit apartment community situated in the highly desired Sullivan’s Gulch neighborhood of Portland. Built in 1949, The Property offers a mix of four one-bedroom and twelve two-bedroom homes, each with original hardwood floors and tile finishes in the kitchens and bathrooms. Apartments include thoughtful features like front and back access, townhouse layouts, large primary bedrooms, lockable basement storage, and free access to onsite washers and dryers.

The Property has been meticulously maintained, with significant updates to its systems and structure. The electrical system was updated in 2014, new boilers and radiator regulating switches were installed in 2019, and a significant repiping project was completed in the last five years. Most apartments feature
restored windows with refurbished-original lead weights, preserving their original charm while ensuring functionality. Each apartment is allocated one off-street parking space, with access to a large open courtyard in the rear.

Residents enjoy a premier location in the heart of central Portland, surrounded by vibrant amenities and major destinations. The Property is within walking distance to the Lloyd Center shopping mall, the Moda Center (home of the Portland Trail Blazers and a hub for concerts and events), and Holladay Park. Transit access is unparalleled, with the NE 7th Ave MAX station just a 10-minute walk away, connecting residents to the Blue, Green, and Red MAX lines. These lines provide easy access to downtown Portland, the Portland International Airport, and the greater metro area. Additionally, the Property is minutes away from I-84, making commutes and travel seamless.
​​​​​​​
​​​​​​​The combination of its central location, historical charm, and extensive updates makes 22nd Ave Townhouse Apartments a truly unique and attractive asset in Northeast Portland. Residents experience the perfect blend of classic character and modern convenience, all in one of the city’s most sought-after neighborhoods.

Under Contract