1953 NW Overton Street, Portland, OR  97209| 123 Units

TheThorntonPDX.com

• Acquired 123 apartment units at $25.4M / $207,000 per unit in December 2017

 

• A+ Northwest District Portland location for a high-end boutique live, work, play apartment community

 

• Walkable to Slabtown (including the popular “New Seasons Market” and “Breakside Brewery”), the Pearl District and the heart of Downtown Portland (Walk Score 94, Bike Score 98)

 

• Portland added 35,000 new residents in 2016 (2M total population for Portland MSA) with 30% of inbound migration aged 25-34 which represents likely renter profile for project

 

• Efficient studio apartment floor plans coupled with robust amenity package makes the community better positioned against future supply marketed at significantly higher gross rents

 

• Planned investment of +/-$1 million ($8,000 per unit) including complete community re-brand, comprehensive upgrade of the existing amenity package (e.g. fitness center, clubhouse) and light work to unit interiors

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