www.tfn-ire.com • (503) 224-6743

HILLSDALE COURT

12 Garden Court Units • Portland, Oregon 6502-6546 SW 21st Ave, Portland, OR

TILBURY FERGUSONI N V E S T M E N T R E A L E S TAT E , I N C .

HILLSDALE COURT 6502-6546 SW 21st Ave, Portland, OR

Exceptionally large apartments. Four 1 BR (Approx. 820 SF), six 2BR (Approx. 1,060 SF), and one 3 BR (Approx. 1,450 SF), and one 4BD/2BA (Approx. 1,890 SF).

All units feature hardwood floors.

Spacious garden with mature plantings and attractive expansive lawn. Site has 0.78 acres, according to county records.

Four apartments with oversized decks. Others with patio.

All apartments with washer and dryer.

Three and Four bedroom duplex units have full basements.

Two units with fireplaces.

Gas heated. Electric hot water separately metered. RUBs charges range from $115-$175/unit.

Current Schedule of Monthly RentsNumber Type Approx. SF Rent $/SF

1BD/1BA 820 SF $1,379 $1.684

2BD/1BA 1,060 SF $1,345 $1.276

3BD/2BA 1,450 SF $2,000 $1.381

4BD/2BA 1,890 SF $2,315 $1.221

1,082 SF $1,492 $1.3812

PLEASE DO NOT DISTURB RESIDENTS

OFFERING SUMMARY

Listed By: Liz Tilbury - liz@tfn-ire.comBen Murphy - ben@tfn-ire.com

1231 NW Hoyt Street, Suite 201 - Portland, OR 97209

ASSET SUMMARY

Property Hillsdale Court Address 6502 - 6546 SW 21st AveCity, State Portland, Oregon

County Multnomah

Year Built 1959

Total Units 12

Approx Sq Ft Avg Unit Size 1,082 sq ft

PRICING

Price $2,950,000Per Unit $245,833

Per Sq Ft $227

Current Cap Rate 4.6%

BUILDING SUMMARY

Lot SizeRoofStructural HeatingParkingFloorsLaundry

0.78 AcresComposition AsphaltWood Frame w/ Brick Veneer Gas16 SpacesHardwood in Main Living AreasIn Suite12,980 sq ft

PROFORMA Income and Expense Summary

Current Rents

Highest Achieved

Current Gross Scheduled Income $214,800Less: Estimated Vacancy/Credit Loss $6,444 (3.0%)

Effective Rental Income $208,356Miscellaneous Income $323

Utility Reimbursement (RUBs) $15,360

Expense SummaryTotal Per

Year% GOI Notes

Real Estate Taxes $27,998 12.5% 2

Property Insurance $2,500 1.1%

Property Management $17,699 7.9%

Repair/Maintenance $8,962 4.0% 5

Electricity/Gas $7,018 3.1%

Water/Sewer $11,011 4.9%

Garbage $1,595 0.7%

Turnover $1,800 0.8%

6

$4,000$4,612

1.8%2.1%

Notes

$228,300$11,415 (5.0%)$216,885$323$15,360

1

1

Landscaping

General AdministrationReserves/Replacements

Totals Per Year

$2,400

$89,445

1.1%

40.0%

34

6

6789

10

The information contained herein has been obtained from sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this investment to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. THE PROSPECTIVE PURCHASER IS EXPECTED TO VERIFY THIS AND ALL OTHER FACTS PERTAINING TO THIS PROPERTY.

Footnote Summary1. RUBs Income: $1,280/month (per rent roll); Misc. Income: Oct. 2020

Annualized2. 2020/2021 Net Real Estate Taxes3. Property Insurance: Estimate4. 7.9% Capital Property Management Fee5. Repair/Maintenance: Covers pest control, plumbing, repairs, services,

materials, HVAC: 4.0% Estimate6. Utilities: Oct. 2020 Annualized7. Turnover: Includes make ready expenses such as painting, flooring,

cleaning: $150/unit estimate8. Landscaping: Estimate9. General/Admin: Includes office supplies, advertising, lease commission,

professional fees: August 2020 Annualized10. Reserves/Replacements: $200/unit estimate

Expenses Per Unit

$2,333$208$1,475$747$585$918$133$150$333$384

$200

$7,466

$89,594 $90,609$224,039 $232,568

$134,445 $141,959

4.6% 4.8%

Gross Operating IncomeTotal Operating ExpensesNet Operating Income

Cap Rate

SALE COMPARABLES

Elysium1210 NE Hancock Portland, OR Price: $2,000,000 Under Contract

Built: 1947 Units: 8SF: 8,671$/Unit: $250,000$/SF: $231

Built: 1904 Units: 12SF: 10,670$/Unit: $200,000$/SF: $225

Built: 1930 Units: 12SF: 7,472$/Unit: $208,333$/SF: $335

Brentwood & Pinecrest565 N Rosa Parks Portland, OR Price: $2,772,681 8/16/19

Built: 1965 Units: 13SF: 13,295$/Unit: $213,283$/SF: $209

1800 Stark1800 SE Stark Portland, OR Price: $3,060,000 4/18/2019

Built: 1964 Units: 15SF: 9,580$/Unit: $204,000$/SF: $319

Inverness131 SE 24th Ave Portland, OR Price: $2,500,000 1/17/2020

Hillsdale Court6502-6546 SW 21st Ave Portland, OR Price: $2,950,000 FOR SALE

Built: 1959 Units: 12SF: 12,980$/Unit: $245,833$/SF: $227

AVERAGES: $/PER SF: $264 - $/PER UNIT:$215,123

12-Plex1830 NW 23rd Pl Portland, OR Price: $2,400,000 9/3/2019

RENT COMPARABLESHilldale Garden6404 SW 30th Ave Portland, OR Built:1966 Units: 61

Type: 1BD- 645 SF - $1,138 - $1.76/SF Type: 2BD- 984 SF - $1,240 - $1.59/SF Type: 3BD - 935 SF - $1,868 - $2.00/SF

RUBS: WSG ($60-$80)Occp: 100%

AVERAGES:1BD - 741 SF - Rent: $1,297 - $/SF: 1.76 2BD - 966 SF- Rent: $1,428 - $/SF: 1.49 3BD - 1,195 SF - Rent: $1,722 - $/SF: 1.47 Occp.: 97%

Timberlee5123 SW 38th Pl Portland, OR Built: 1964 Units: 85

Type: 1BD- 860 SF - $1,395 - $1.62/SF Type: 2BD- 984 SF - $1,595 - $1.62/SF Type: 3BD - 1,200 SF - $1,895 - $1.58/SF

RUBS: WSG ($55,$60,$65)Occp: 96%

Montclair3310 SW Btv. Hills. Hwy. Portland, OR Built: 1975Units: 17

Type: 2BD- 900 SF - $1,329 - $1.48/SF Type: 3BD - 1,200 SF - $1,454 - $1.21/SF

RUBS: WSG ($60-$80)Occp: 95%

Colony Park3541 SW Btvt. Hills. Hwy. Portland, OR Built: 1967Units: 62

Type: 2BD- 1,075 SF - $1,236 - $1.15/SF Type: 3BD - 1,250 SF - $1,478 - $1.18/SF

RUBS: WSG ($35 2BD - $45 3BD)Occp: 98%

Tempo West5808 SW Bvt. Hills. Hwy. Portland, OR Built:1973/2019 Units: 56

Type: 1BD- 709 SF - $1,325 - $1.87/SF Type: 2BD- 1,056 SF - $1,580 - $1.50/SF Type: 3BD - 1,415 SF - $1,750 - $1.24/SF

RUBS: WSG ($100-$150)Occp: 92%

Shadow Hills2040 SW Vernon St Portland, OR Built:1990 Units: 220

Type: 1BD- 750 SF - $1,330 - $1.77/SF Type: 2BD- 1,000 SF - $1,585 - $1.59/SF Type: 3BD - 1,170 SF - $1,885 - $1.61/SF

RUBS: WSG (Billed Seperately) Occp: 95%

Hillsdale Court6502-6546 SW 21st Ave Portland, OR Built:1959Units: 12

Type: 1BD- 820 SF - $1,379 - $1.68/SF Type: 2BD- 1,060 SF - $1,345 - $1.27/SF Type: 3BD - 1,450 SF - $2,000 - $1.38/SFType: 4BD - 1,890 SF - $2,315 - $1.22/SF

SW PORTLAND - MULTNOMAH VILLAGEAREA HOUSING MARKETThe median home value in Multnomah Village is $432,920. Multnomah Village home values have increased 1.1% over the past year. The median list price per square foot in Multnomah Village is $279, which is higher than the Portland-Vancouver-Hillsboro Metro average of $232. The median price of homes currently listed in Multnomah Village is $420,000 while the median price of homes that sold is $411,700.

ECONOMYOregon Health & Science University, with 16,500 employees and 3,000 students, is a dominant presence in Southwest Portland. With an annual operating budget of $2.8 billion and a substantial impact on Portland's economy, OHSU among Portland's largest employers. Other notable employers based in Southwest Portland include Precision Castparts Corp., manufacturer of components for aircraft engines and industrial gas turbines; YMCA of Columbia-Willamette, headquartered within the submarket; and National University of Natural Medicine, with about 200 full-time employees and about 600 students.

HCHillsdale Court

3 Miles to Downtown

Bus Stop

Restaurant

Coffee Shop

WALKSCORE

85

BIKE SCORE

74

Park

Bar

HILLSDALE COURTPRICING

Price $2,950,000Per Unit $245,833

Per Sq Ft $227

Cap Rate 4.6%

ASSET SUMMARYProperty Hillsdale Court Address 6502-6546 SW 21st Ave

City, State Portland, Oregon

County Multnomah

Year Built 1959

Total Units 12

Approx NR Sq Ft 12,980 sq ftAvg Unit Size 1,082 sq ft

www.tfn-ire.com • (503) 224-6743

TILBURY FERGUSONI N V E S T M E N T R E A L E S TAT E , I N C .

PLEASE DO NOT DISTURB RESIDENTS