Case Studies

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Vue Property Summary

  • Downtown Portland, Oregon
  • Adjacent to Portland State University
  • Downtown Portland, Oregon
  • Adjacent to Portland State University
  • Prestigious location overlooking “park blocks”
  • Built in 1951, 15-story high-rise and 308 units
  • 9,454 sq ft. of ground floor retail
  • Rooftop terrace with incredible views
  • Two floors of gated subterranean parking
  • Fitness Center & Rec Room
  • Since 2007: $5,800,000 ($19,000 per unit) spent on improvements/renovations
  • 289 units renovated / 19 units un-renovated

Transaction Overview

  • $34.9 Million purchase/$113,150 per unit
  • Acquisition NOI of $1,871,228
  • Current NOI of $2,992,688
  • Increase in NOI of 60% since acquisition

Project Renovations

  • Kitchens – new appliances, fixtures, flooring and cabinets
  • Living Rooms – new/repaired flooring, new electrical fixtures and new crown molding
  • Bathrooms – repaired flooring, tub, toilet and new mirror
  • Exteriors – new paint, storefronts and entry doors
  • Common Areas – rooftop deck remodel, lobby remodel, new paint and lighting in the corridors and new exterior color scheme
Before and After PhotosClick here to view slideshow