POTENTIAL LOAN ASSUMPTION of 3.25% fixed until December 2028, for qualified buyers. The Weidler 111 Apartments represents a rare opportunity to invest in a high-quality stabilized apartment community in one of the strongest submarkets within the Portland Metro, The Gateway District of Northeast Portland. The asset is comprised of 32 spacious units, with a mix of large 2BR and 3BR floor plans. The vacancy average has been historically low, and the unit mix has proven to meet the demands of today?s renters, and will continue to be a unique housing option in the market, given the limitations and financial challenges of developing large floor plans in today?s market and moving forward. The community has benefited from major interior & exterior improvements in recent years. Exterior renovations include re-branding & signage, new paint, new outdoor BBQ/Picnic area, new basketball court, renovated leasing office, new fencing, new decking (select units), and upgraded landscaping. The majority of the interior units have been renovated (approx. 90%) with flooring, paint, appliances, cabinets (new or refinished), resurfaced countertops (select units with quartz), new fixtures, lighting, ceiling fans, and various bathroom updates. A proven model of success has been established for a new investor to finish the remaining units, and also reap the benefits of less turnover work for future lease ups. The community has experienced strong rent growth in recent years, with impressive lease up rents in 2022/2023 as tenants seek more suburban amenity rich communities and large floorplans. The average in place rents still trail the highest level in the building by approximately 10%, allowing a new investor the opportunity to step in and execute a realistic and obtainable value add model by simply getting all of the existing units up to the highest achieved level in the building.
Property Details
Property Features
Property Information:
Year Built: 1973
Stories: 2
Living Area: 34,207 SqFt
Listing Office:
Office Name: Joseph Bernard LLC
Office Phone: (503) 546-9390
Listing Agent: Phillip Barry
Interior Features
Interior Information:
Basement: No
Exterior Features
Parking Information:
Attached Garage: No
Parking: Assigned
Virtual/3D Tour
Virtual Tour: 11145 NE Weidler St
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Lot Features
Lot Information:
Lot: Level
Utilities
Utilities Information:
Heating: Baseboard
School Info
Assigned Schools Information:
Parkrose High School, Public District Grades 9-12
Parkrose Middle School, Public District Grades 6-8
Sacramento Elementary School, Public District Grades KG-5
Other
Directions Information:
Directions: NE Weidler St/NE 11th Ave
Price Information
Listing Price Info
Price Summary:
List Price: $7,745,000
Price Per SqFt: $226/SqFt
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Property Sales & Tax
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
6
/10
Sacramento Elementary School
11400 NE Sacramento St
Distance between this listing and this school0.30 miles
Public District Grades KG-5
Middle School
6
/10
Parkrose Middle School
11800 NE Shaver St
Distance between this listing and this school1.17 miles
Public District Grades 6-8
High School
4
/10
Parkrose High School
12003 NE Shaver St
Distance between this listing and this school1.30 miles
Public District Grades 9-12
Assigned Schools
6
/10
Sacramento Elementary School
11400 NE Sacramento St
Distance between this listing and this school0.30 miles
Public District Grades KG-5
Nearby Schools
2
/10
Russell Elementary School
2700 NE 127th Ave
Distance between this listing and this school0.94 miles
Public District Grades KG-5
4
/10
Ventura Park Elementary School
145 SE 117th Ave
Distance between this listing and this school0.96 miles
Public District Grades KG-5
Assigned Schools
6
/10
Parkrose Middle School
11800 NE Shaver St
Distance between this listing and this school1.17 miles
Public District Grades 6-8
Nearby Schools
5
/10
Floyd Light Middle School
10800 SE Washington St
Distance between this listing and this school1.22 miles
Public District Grades 6-8
7
/10
Creative Science School
1231 SE 92nd Ave
Distance between this listing and this school1.81 miles
Public District Grades KG-8
Assigned Schools
4
/10
Parkrose High School
12003 NE Shaver St
Distance between this listing and this school1.30 miles
Public District Grades 9-12
Nearby Schools
4
/10
Madison High School
2735 NE 82nd Ave
Distance between this listing and this school1.63 miles
Public District Grades 9-12
5
/10
David Douglas High School
1001 SE 135th Ave
Distance between this listing and this school1.70 miles
The neighbors living near this home have an average income of $67,378. The most common annual income of people living in Portland, OR is between $35k-100k. The most common type of family is single, no kids. The majority of residents in this area have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 11145 NE Weidler St
What is the listing price of this property?
The listing price of 11145 NE Weidler St property is $7,745,000.
What type of property is this?
The property 11145 NE Weidler St is a house located in Portland, Oregon, 97220.
Is this property for sale now?
Active Listing: 11145 NE Weidler St is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 11145 NE Weidler St are: Sacramento Elementary School: GreatSchools Rating 6/10Parkrose Middle School: GreatSchools Rating 6/10Parkrose High School: GreatSchools Rating 4/10
What is the square footage of this property?
The property 11145 NE Weidler St is 34,207 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 11145 NE Weidler St is 1973.
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This home is located at 11145 NE Weidler St in Portland, OR and zip code 97220 in the Parkrose Heights neighborhood. This 34,207 square foot home was built in 1973. It has been listed on Rocket Homes since December 06, 2023 and is currently priced at $7,745,000.
Portland, OR housing market in March 2024 saw over 245 listings sold above listed price, more than 149 sold at listed price and over 217 sold below. The number of homes for sale in Portland, OR increased by 8% between February 2024 and March 2024. While the average time on the market in March 2024 was 44 days, the median list price was $539,441.
From Rocket Homes Real Estate and based on county public records data.
The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland, Oregon. Real estate listings held by another brokerage firm are marked with the RMLS logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2024 Regional Multiple Listing Service, Inc. (RMLS™) Portland, Oregon. 
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