A California-based real estate investor, recently completed the $3,750,000 purchase of a 34-unit multifamily property at 1740 Park Avenue, Woodburn, OR. The sale of Park View Village represented a record price per unit for Woodburn, OR apartment sales at $110,294 per unit.
The 34-unit complex was built in 1976. It is situated on approximately 1.89 acres of land, is made up of five buildings and 28 single car garages. The property was 100% occupied at the time of sale and offered the new buyer tremendous upside.
Cam Chatfield, with Portland-based Norris & Stevens, Inc./TCN Worldwide represented both the Buyer and the Seller in this 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 6 million square feet of commercial space and 9,000 apartment units.