OAK KNOLL

1817 St Johns Boulevard | Vancouver, WA

• 80 Units

• Built in 1986

• Average Unit Size: ±722 SF
  

THE QUAD

1613 Brandt Road | Vancouver, WA

• 22 Units

• Built in 1977

• Average Unit Size: ±800 SF

senior estates

4000 E 18th Street | Vancouver, WA

• 24 Units

• Built in 1977

• Average Unit Size: ±800 SF

the lindale

363 Lindale Drive | Springfield, OR

• 64 Units

• Built in 1970

• Average Unit Size: 736 SF

Proximity to Growing Economic Drivers

Vancouver properties are all located within a 5-minute drive to Downtown Vancouver and the burgeoning $3 Billion Vancouver Waterfront redevelopment. Lindale is located within walking distance of RiverBend Medical Center, and a short commute to the University of Oregon, which has boasted enrollment growth of 33.5% since 2000.

Proven Value-Add Upside

To-date current ownership has implemented a “partial” renovation scope across roughly 38% of the units in the portfolio and a “luxury” renovation scope across roughly 5% of the units. These upgrades have resulted in respective rental premiums of $120/mo. and $231/mo. over the original finish scope.

Long-Term Pride of Ownership

Each of the properties have been cared for by the same local owner-managed team for 30 to 50 years. Current ownership has consistently reinvested in the properties, focusing on big-ticket items such as roofs, elevators, exterior paint, water heaters, etc.

Compelling Investment Metrics

The collective portfolio reflects an attractive basis well below current replacement cost, and attractive return metrics with future upside through a continuation of the existing value-add business plan.