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For sale
  • Price cut: $405K (8/4)
    $5,890,000

    7002-7140 N Alta Ave, Portland, OR 97203

    --beds
    0baths
    28,200sqft
    : 
    Multi Family
    Built in 1972
    -- sqft lot
    $-- Zestimate®
    $209/sqft
    $-- HOA

    What's special

    Variety of floor plansSizable parking lot
    **Contract Sale Opportunity, for highly qualified investors.** The Bridgecrest Apartments represents a unique pride of ownership asset in the St. Johns Neighborhood of North Portland. The community is comprised of 35 units with a variety of unique and functional floorplans and has been meticulously maintained by the current ownership over the past 20 years. The property has undergone a complete transformation during that time, with a variety of major capital improvements to the exterior, along with a thoughtful approach to the renovation of the interior units to meet the demands of today's renter. This has resulted in historically low vacancy and strong performance. Additional value-add opportunity remains for a new owner, through operational improvements, and a more aggressive management approach to capitalize on revenue growth opportunities. The community has a mix of Studio, 1-bedroom, and 2-bedroom floorplans, many of which provide unique living spaces with sizeable square footages. Most units have been upgraded (34 out of 35), and the community offers a variety of floor plans (flats, townhomes, loft style, etc.) which appeal to a broad scope of residents. The current rents in place trail the market by approximately 10%, providing a new owner a strong base to step into, but also allowing for additional & attainable runway to grow the income during the first few years of ownership. In addition to the rental upside, the current ownership does not have a utility bill back system in place (which has become a widely acceptable charge in the market) and the property has a sizable parking lot (32 spaces + 3 garages) & Storage Lockers (17) that are currently being rented below market and could be utilized further. A truly rare opportunity to step into a well-cared for asset, with true operational upside day one. The Bridgecrest has undergone extensive capital improvements in recent years, providing an ease of transition for a new owner to step into and focus their efforts on the operations. Capital Improvements include major exterior & building items: Roofs/Gutters (various years), Vinyl Windows, Exterior Paint, Siding (partial), New Stairs/Railings & Landings, Lighting, New Water Main, Parking Lot, Retaining Wall, Walkways, Landscape refresh, Laundry Room renovation, Fencing, Replacement of horizontal galvanized piping, and extensive interior Apartment Renovations. Reap the benefits of a well-cared for community.
    74 days
    on Zillow
    |
    157
    |
    9
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    Zillow last checked: 7 hours ago

    Listing updated: August 04, 2025 at 12:52pm

    Listed by:

    503-593-9707,

    Joseph Bernard Investment Real Estate

    Source: My State MLS,MLS#: 11503764
    Travel times

    Tour with a buyer's agent

    We'll find a local expert to take you on a private tour of 7002-7140 N Alta Ave.

    Next available tour time:Tomorrow at 9am

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bathrooms: 0
    Basement
    • Area: 0
    Heating
    • Has Heating (Unspecified Type)
    Features
    • Has basement: No
    • Has fireplace: No
    Interior area
    • Total structure area: 28,200
    • Total interior livable area: 28,200 sqft
    • Finished area above ground: 28,200

    Property

    Lot
    • Size: 0.86 Acres
    • Features: Near Bus
    Details
    • Parcel number: R191934
    • Lease amount: $0

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    Condition
    • New construction: No
    • Year built: 1972

    Utilities & green energy

    • Electric: Amps(0)

    Community & HOA

    Community
    • Subdivision: Cathedral Park
    HOA
    • Has HOA: No
    Location
    • Region: Portland

    Financial & listing details

    • Price per square foot: $209/sqft
    • Annual tax amount: $46,327
    • Date on market: 5/23/2025
    • Date available: 05/23/2025
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