multifamily property for sale wilsonville greens - 12 ... · anita risberg, ccim principal broker...

ANITA RISBERG, CCIMPrincipal [email protected]

Wilsonville Greens - 12 Townhome Style Units10460 SW WILSONVIL LE ROAD, WILSONVIL LE , OR 97070

MULTIFAMILY PROPERTY FOR SALE

OmniVest | 503.847.7990 | 5 Centerpointe Drive, Suite 400, Lake Oswego, OR 97035| www.omnivestcire.com


FOR MORE INFORMATION:

Confidentiality & Disclaimer

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Neither OmniVest, LLC its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the anymaterials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute fora party’s active conduct of its own due diligence to determine these and other matters of significance to such party. OmniVest, LLC will not investigate or verify any such matters orconduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including throughappropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documentsand reports and consulting appropriate independent professionals. OmniVest, LLC makes no warranties and/or representations regarding the veracity, completeness, or relevance ofany financial data or assumptions. OmniVest, LLC does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regardingfinancial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents thatmay be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmentallimitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questionsshould be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmentalrequirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services aremarketed by OmniVest, LLC in compliance with all applicable fair housing and equal opportunity laws.

Confidentiality & Disclaimer

OmniVest | 503.847.7990 | 5 Centerpointe Drive, Lake Oswego, OR 97035 | www.omnivestcire.com

10460 SW WILSONVIL LE ROAD, WILSONVIL LE , OR 97070

Wilsonville Greens - 12 Townhome Style Units

PROPERTY INFORMATION 4

LOCATION INFORMATION 10

FINANCIAL ANALYSIS 14

SALES COMPARABLES 18

RENT COMPARABLES 23

DEMOGRAPHICS 28

ADVISOR BIOS 31

Table Of Contents






Contents




OmniVest | 503.847.7990 | 5 Centerpointe Drive, Suite 400, Lake Oswego, OR 97035 | www.omnivestcire.com

PROPERTY INFORMATION

The information contained herein is deemed to be obtained from reliable sources but is not guaranteed.



PROPERTY OVERVIEWWIlsonville Greens consisting of 12 town-home style 3 bedroom, 2.5 bath units with attached 1 car garage. Builtin 2016. Near Oswego Grill, McMenamins, Fred Meyers Shopping Center. Villebois residential developmentand schools.

These units have large open floor plans, tall ceilings and gas fireplaces. Large master bedroom with attachedbath. Kitchen has stainless steel appliances, granite counters, washer and dryer upstairs, and a private patio!Walking paths and abundant green space.

www.omnivestcire.comMORE INFORMATION AVAILABLE ONLINE:

LOCATION OVERVIEWWilsonville is the epitome of small-town living in northwest Oregon. Situated just 18 miles southwest of Portland.

Wilsonville has no shortage of conveniences, from local business, casual restaurants, and grocery stores tobanks, fitness centers, and public schools in the West Linn-Wilsonville School District. I-5 runs straight throughtown, or take advantage of public transit.

Along the Willamette River near the south end of town there is Memorial Park which has riverfront views, athleticfields, nature trails, playground, and an off-leash dog park, as well as the favorite Charbonneau Golf Club.

PROPERTY SUMMARY

Sale Price: $3,950,000

Number Of Units: 12

Cap Rate: 5.09%

NOI: $200,258

Lot Size: 0.79 Acres

Building Size: 16,216 SF

Year Built: 2016

Zoning: PDR5

Market: Portland

Sub Market: Wilsonville MF

Executive Summary






PROPERTY HIGHLIGHTS

• Large Open Floor Plans

• Tall Ceilings

• Washer/Dryer

• Gas Fireplaces

• Attached Garage

• Stainless Steel Appliances

• Patio

• Granite Counters

• Condo Quality

• Easy Access to I-5

• Close to Shopping

• Walking Paths

• Built in 2016

• Consistent rent growth

• Approximately 12 years of no rent control

Complete Highlights






Additional Photos








LOCATION INFORMATION



Regional Map






Location Maps






Aerial Maps








FINANCIAL ANALYSIS



INVESTMENT OVERVIEW

Price $3,950,000Price per Unit $329,166GRM 13.5CAP Rate 5.1%Cash-on-Cash Return (yr 1) 3.77 %Total Return (yr 1) $94,681Debt Coverage Ratio 1.29

OPERATING DATA

Gross Scheduled Income $292,025Other Income $16,426Total Scheduled Income $308,451Vacancy Cost $14,601Gross Income $293,849Operating Expenses $93,591Net Operating Income $200,258Pre-Tax Cash Flow $44,707

FINANCING DATA

Down Payment $1,185,000Loan Amount $2,765,000Debt Service $155,551Debt Service Monthly $12,962Principal Reduction (yr 1) $49,974

Financial Summary




Income & Expenses




INCOME SUMMARY PER SF

GROSS INCOME $293,849 $18.12

EXPENSE SUMMARY PER SF

Building Insurance $3,550 $0.22Grounds Maintenance $4,500 $0.28Security Service $660 $0.04General & Admin $100 $0.01Maintenance Labor $880 $0.05Management Fees $13,000 $0.80Repairs & Maintenance $8,500 $0.52Reserves $3,000 $0.19Real Estate Taxes 2019 $37,600 $2.32Trash Removal $4,300 $0.27Utility - Gas $426 $0.03Utility - Electric $1,175 $0.07Utility - Water/Sewer $15,200 $0.94Utility - Fire Rise Room $700 $0.04

GROSS EXPENSES $93,591 $5.77

NET OPERATING INCOME $200,258 $12.35





UNIT TYPE COUNT % TOTAL SIZE (SF) RENT RENT/SF

3BD/2.5BA 1 8.3 1,383 $1,999 $1.45

3BD/2.5BA 1 8.3 1,341 $1,950 $1.45

3BD/2.5BA 1 8.3 1,338 $2,100 $1.57

3BD/2.5BA 1 8.3 1,334 $2,000 $1.50

3BD/2.5BA 1 8.3 1,334 $1,975 $1.48

3BD/2.5BA 1 8.3 1,383 $2,100 $1.52

3BD/2.5BA 1 8.3 1,383 $2,100 $1.52

3BD/2.5BA 1 8.3 1,334 $2,100 $1.57

3BD/2.5BA 1 8.3 1,334 $2,100 $1.57

3BD/2.5BA 1 8.3 1,334 $1,950 $1.46

3BD/2.5BA 1 8.3 1,334 $2,100 $1.57

3BD/2.5BA 1 8.3 1,384 $1,999 $1.44

Totals / Averages 12 100% 16,216 $24,473 $1.51

Unit Mix Summary








SALES COMPARABLES



Sale Comps




SUBJECT PROPERTY

10460 SW Wilsonville Road | Wilsonville, OR 97070

$3,950,000Sale Price:

2016Year Built:

16,216 SFBuilding SF:

$243.59Price PSF:

12No. Units:

$329,167Price / Unit:

13.53GRM:

5.09%Cap:

$200,258NOI:

SYDNI COURT17606-17646 Sydni Ct | Lake Oswego, OR 97035


2012Year Built:


$174.83Price PSF:

8No. Units

$425,000Price / Unit

3.8%CAP:

01/31/2019Closed:

1

38262 Hood St | Sandy, OR 97055


2018Year Built:


$144.67Price PSF:

5No. Units


6.76%CAP:

01/31/2019Closed:

2 FOX CHASE TOWNHOMES30625 SW Willamette Way E | Wilsonville, OR 97070


2015Year Built:


$58.41Price PSF:

15No. Units


5.087%CAP:

01/30/2019Closed:

3



Sale Comps




4946 SW Marissa Ter | Beaverton, OR 97078


2017Year Built:


$168.21Price PSF:

11No. Units


5.7%CAP:

05/31/2018Closed:

4 SAWTOOTH37 D Ave | Lake Oswego, OR 97034


2015Year Built:


$359.38Price PSF:

8No. Units


07/26/2017Closed:

5

3853 NW 148th Pl | Portland, OR 97229


2007Year Built:


$300.00Price PSF:

6No. Units


6%CAP:

05/15/2017Closed:

6



Sale Comps Summary




SUBJECT PROPERTY PRICE PRICE/SF PRICE/UNIT CAP # OF UNITS CLOSE

Wilsonville Greens10460 SW Wilsonville RoadWilsonville, OR 97070

$3,950,000 $243.59 $329,167 5.1% 12 -

SALE COMPS PRICE PRICE/SF PRICE/UNIT CAP # OF UNITS CLOSE

1Sydni Court17606-17646 Sydni CtLake Oswego, OR 97035

$3,400,000 $174.83 $425,000 3.8% 8 01/31/2019

238262 Hood StSandy, OR97055

$1,200,000 $144.67 $240,000 6.8% 5 01/31/2019

3Fox Chase Townhomes30625 SW Willamette Way EWilsonville, OR 97070

$2,900,000 $58.41 $193,333 5.1% 15 01/30/2019

44946 SW Marissa TerBeaverton, OR97078

$3,400,000 $168.21 $309,090 5.7% 11 05/31/2018

5Sawtooth37 D AveLake Oswego, OR 97034

$2,300,000 $359.38 $287,500 - 8 07/26/2017

63853 NW 148th PlPortland, OR97229

$2,100,000 $300.00 $350,000 6.0% 6 05/15/2017

PRICE PRICE/SF PRICE/UNIT CAP # OF UNITS CLOSE

TOTALS/AVERAGES $2,550,000 $137.84 $288,788 5.5% 8.83 -



Sale Comps Map




10460 SW Wilsonville Road | Wilsonville, OR 97070SUBJECT PROPERTY

1

17606-17646 Sydni CtLake Oswego, OR 97035

SYDNI COURT

2

38262 Hood StSandy, OR 97055

3

30625 SW Willamette Way EWilsonville, OR 97070

FOX CHASE TOWNHOMES

4

4946 SW Marissa TerBeaverton, OR 97078

5

37 D AveLake Oswego, OR 97034

SAWTOOTH

6

3853 NW 148th PlPortland, OR 97229





RENT COMPARABLES



Rent Comps




SUBJECT PROPERTY10460 SW Wilsonville Road | Wilsonville, OR 97070

2016Year Built:

16,216 SFBldg Size:

0.79 ACLot Size:

12No. Units:

$1.51Avg. Rent/SF:

1,351 SFAvg. Size:

$2,039Avg. Rent:

38262 HOOD ST38262 Hood St | Sandy, OR 97055

2018Year Built:

8,295 SFBldg Size:0.36ACLot Size:

5No. Units:

$1.24Avg. Rent/SF

1,410 SFAvg. Size

$1,750Avg. Rent

1

FOX CHASE TOWNHOMES30625 SW Willamette Way E | Wilsonville, OR 97070

2015Year Built:

49,645 SFBldg Size:0ACLot Size:

15No. Units:

$1.22Avg. Rent/SF

1,239 SFAvg. Size

$1,517Avg. Rent

2 SAPPHIRE APARTMENTS101 NE Brookwood Pky | Hillsboro, OR 97124

2014Year Built:

30,480 SFBldg Size:1.27ACLot Size:

25No. Units:

$1.42Avg. Rent/SF

952 SFAvg. Size

$1,353Avg. Rent

3

25 Units Built 2014



Rent Comps




JOHNSON STREET APARTMENTS18990-18996 SW Johnson St | Beaverton, OR 97006

2015Year Built:


18No. Units:

$1.46Avg. Rent/SF

826 SFAvg. Size

$1,210Avg. Rent

4 WEBSTER RIDGE1818 Webster Road | Gladstone, OR 97027

2017Year Built:


122No. Units:

$1.67Avg. Rent/SF

846 SFAvg. Size

$1,417Avg. Rent

5

MIs of Studio, 1BR, 2BR & 3BR Units



SUBJECT PROPERTY RENT/SF AVAILABLE SF BLDG SF # OF UNITS

Wilsonville Greens10460 SW Wilsonville RoadWilsonville, OR 97070

$1.51 0 SF 16,216 SF 12

RENT COMPS RENT/SF AVAILABLE SF BLDG SF # OF UNITS

138262 Hood StSandy, OR 97055

$1.24 7,050 SF 8,295 SF 5

2Fox Chase Townhomes30625 SW Willamette Way EWilsonville, OR 97070

$1.22 18,585 SF 49,645 SF 15

3Sapphire Apartments101 NE Brookwood PkyHillsboro, OR 97124

$1.42 23,800 SF 30,480 SF 25

4Johnson Street Apartments18990-18996 SW Johnson StBeaverton, OR 97006

$1.46 14,868 SF 14,868 SF 18

5Webster Ridge1818 Webster RoadGladstone, OR 97027

$1.67 103,300 SF 122,000 SF 122

RENT/SF AVAILABLE SF BLDG SF # OF UNITS

TOTALS/AVERAGES $1.40 33,521 SF 45,058 SF 37

Rent Comps Summary






10460 SW Wilsonville Road | Wilsonville, OR 97070SUBJECT PROPERTY

1 38262 Hood StSandy, OR 97055

230625 SW Willamette Way EWilsonville, OR 97070

FOX CHASE TOWNHOMES 3101 NE Brookwood PkyHillsboro, OR 97124

SAPPHIRE APARTMENTS

418990-18996 SW Johnson StBeaverton, OR 97006

JOHNSON STREET APARTMENTS 51818 Webster RoadGladstone, OR 97027

WEBSTER RIDGE

Rent Comps Map








DEMOGRAPHICS



Demographics Report




1 MILE 5 MILES 10 MILES

Total population - Hispanic 166 / 12.4% 5,316 / 9.9% 33,618 / 11.3%


Total households 521 20,055 115,974

Total persons per hh 2.6 2.7 2.6

Average hh income $83,156 $88,958 $88,110

Average house value $439,277 $435,258 $419,681


Total population - White / % White 1,198 / 89.2% 46,536 / 86.5% 257,373 / 86.6%

Total population - Black / % Black 9 / 0.7% 700 / 1.3% 3,236 / 1.1%

Total population - Asian / % Asian 11 / 0.8% 1,912 / 3.6% 13,471 / 4.5%

Total population - Hawaiian / % Hawaiian 19 / 1.4% 296 / 0.6% 1,414 / 0.5%

Total population - Indian / % Indian 12 / 0.9% 579 / 1.1% 2,089 / 0.7%

Total population - Other / % Other 42 / 3.1% 1,423 / 2.6% 9,959 / 3.3%


Total population 1,343 53,784 297,300

Median age 35.1 37.7 38.4

Median age (male) 32.9 36.7 37.4

Median age (female) 36.8 38.7 39.5

* Demographic data derived from 2010 US Census



* Demographic data derived from 2010 US Census

1 Mile 5 Miles 10 Miles

Total Population 1,343 53,784 297,300

Population Density 427 685 946

Median Age 35.1 37.7 38.4

Median Age (Male) 32.9 36.7 37.4

Median Age (Female) 36.8 38.7 39.5

Total Households 521 20,055 115,974

# of Persons Per HH 2.6 2.7 2.6

Average HH Income $83,156 $88,958 $88,110

Average House Value $439,277 $435,258 $419,681

Demographics Map








ADVISOR BIOS

Advisor Bio & Contact






5 Centerpointe DriveLake Oswego, OR 97035

T 503.847.7990C [email protected] #201220290WA #25706

Principal BrokerANITA RISBERG, CCIM Professional Background

Anita Risberg, CCIM has been recognized by her peers for her service and professionalism. Having successfullynegotiated all types of commercial and investment real estate for almost 30 years, much of Anita's brokerage practice overthe last fifteen years has been centered on multifamily investment property acquisitions and dispositions. Her completedtransactions total over $100 million. Serving local, regional and national clients across the Pacific Northwest.

She has worked on a wide range of projects that include valuations for attorneys, dispositions for banks, assemblages,development and redevelopment of existing properties. Anita has cultivated a strong regional network of relationships andexclusive partnerships and is an active liaison with other top brokers/agents. One of Anita's greatest strengths is her abilityto prospect for off-market opportunities.

Memberships & AffiliationsServed as the 2017 Regional Vice President for Region 1 through the CCIM Institute. She is a member of CCIM Instituteand the National Association of Realtors. 2010 Chapter President Oregon/SW Washington CCIM Chapter. WVCR2009 Realtor of the year. 2017 Graduate of the JWL leadership training through the CCIM Institute in Chicago.

EducationBachelors Degree in Business from Mankato State University and Western Oregon University.

CCIM Designation, CCIM Institute Chicago, Ill.

2017 Graduate of the JWL leadership training through the CCIM Institute.

multifamily property for sale wilsonville greens - 12 ... · anita risberg, ccim principal broker...

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