Bancroft Apartments LLC recently completed the $1,575,000 purchase of the Bancroft Apartments, located at 21-47 SW Bancroft Street in Portland, Oregon.
Constructed in 1906, 1965, and 1995 in three phases, the approximately 5,200 square foot multi-family property is made up of two single family homes and four large townhome units. The townhome units are two bedrooms with one and a half baths, and are approximately 867 square feet. Both single family houses have two bedrooms, one with two bathrooms and the other with a single bathroom. Conveniently located in the desirable neighborhood of Homestead, the property is within close proximity to the south waterfront, John’s Landing, OSHU, TriMet bus lines, and major transportation arterials.
Cameron Mercer with Portland-based Norris & Stevens, Inc. represented the Seller, and Tim Grey with Apartments NW represented the Buyer in the transaction.
Norris & Stevens, Inc. is one of the largest locally-owned, full-service commercial real estate brokerage firms in Oregon and SW Washington. A member of the TCN Worldwide network, the firm was founded in 1966 and currently employs around 75 professionals in investment sales, leasing and property management for office, industrial, retail, land, and multi-family properties. The firm’s property management portfolio exceeds 5.9 million square feet of commercial space and 9,100 apartment units.