13455 SE OATFIELD RD Milwaukie, OR 97222
Price:
$4,850,000
Units:
33
Acres:
2.1
Unit 1:
1.0 Bath $1,095/mo
Features: Dishwasher, Range, Refrigerator
Unit 2:
1 Bed 1.0 Bath $1,287/mo
Features: Dishwasher, Range, Refrigerator
Unit 3:
1 Bed 1.0 Bath $1,287/mo
Features: Dishwasher, Range, Refrigerator
Unit 4:
1 Bed 1.0 Bath $1,287/mo
Features: Dishwasher, Range, Refrigerator
Unit 5:
1 Bed 1.0 Bath $1,287/mo
Features: Dishwasher, Range, Refrigerator
Unit 6:
1 Bed 1.0 Bath $1,287/mo
Features: Dishwasher, Range, Refrigerator
Unit 7:
1 Bed 1.0 Bath $1,287/mo
Features: Dishwasher, Range, Refrigerator
Unit 8:
1 Bed 1.0 Bath $1,287/mo
Features: Dishwasher, Range, Refrigerator
Unit 9:
1 Bed 1.0 Bath $1,287/mo
Features: Dishwasher, Range, Refrigerator
Unit 10:
1 Bed 1.0 Bath $1,287/mo
Features: Dishwasher, Range, Refrigerator
Unit 11:
1 Bed 1.0 Bath $1,287/mo
Features: Dishwasher, Range, Refrigerator
Unit 12:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 13:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 14:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 15:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 16:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 17:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 18:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 19:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 20:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 21:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 22:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 23:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 24:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 25:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 26:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 27:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 28:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 29:
2 Bed 1.0 Bath $1,392/mo
Features: Dishwasher, Range, Refrigerator
Unit 30:
3 Bed 1.0 Bath $1,683/mo
Features: Dishwasher, Range, Refrigerator
Unit 31:
3 Bed 1.0 Bath $1,683/mo
Features: Dishwasher, Range, Refrigerator
Unit 32:
3 Bed 1.0 Bath $1,683/mo
Features: Dishwasher, Range, Refrigerator
Unit 33:
3 Bed 1.0 Bath $1,683/mo
Features: Dishwasher, Range, Refrigerator
MLS#:
660527886
Lot Size:
1 to 2.99 Acres
Type:
Multi
Zone:
MR1
Yr Built:
1965
Taxe/yr:
$40,412.10
County:
Clackamas
Status:
Active
Levels:
2
Heat:
WallHeater
Elem:
Oak Grove
Middle:
Rowe
High:
Putnam
Lot Desc:
Level
Area:
Milwaukie, Gladstone, Happy Valley, Clckmas, Dmscus, Estacada
Courtesy of:
Barry Investment Real Estate
Remarks:
Driftwood Terrace Apartments is a 33-unit multifamily community located in the desirable Oak Grove / Milwaukie Heights area of Clackamas County. Constructed in 1965, the property features a low-density garden-style courtyard setting with mature landscaping and attractive grounds. The property offers a diverse unit mix consisting of studio, one-bedroom, two-bedroom, and three-bedroom apartment homes, with the majority of units comprised of spacious two-bedroom and three-bedroom floor plans.The property has benefited from significant capital investment during current ownership, including replacement of all roofs between 2016-2018, extensive deck reconstruction, stair and landing replacement, fencing improvements, and ongoing interior renovations. Ownership estimates that approximately 50% of the units have received varying levels of interior updates, creating an attractive balance between operational stability and future value-add potential through continued renovation and leasing of long-term residents upon turnover.Driftwood Terrace continues to benefit from strong occupancy and a stable long-term tenant base. Numerous residents have occupied the property for many years and remain below current market rents, providing investors with a clear path to future rental growth through annual rent increases and natural turnover.Located just minutes from the MAX Orange Line, Highway 99E, Downtown Milwaukie, and Downtown Portland, Driftwood Terrace offers investors the opportunity to acquire a well-maintained Clackamas County apartment community with durable physical improvements, strong transportation connectivity, and long-term rental upside.
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