Bristol Equities Buys Three Multifamily Properties
Gafco Properties Sells Portfolio for Combined $4.65M
June 27, 2012
Gafco Properties sold three multifamily properties in Portland, OR to Bristol Equities for a combined $4.65 million in three separate transactions. The three buildings consist of a 14-unit property at 1931 NW 29th Ave., the 16-unit Sara Anne Apartments at 2255 NW Johnson St., and the 16-unit Charlotte Rose Apartments at 2235 NW Johnson St.
1931 NW 29th Avenue, totaling 9,406 square feet, sold for $1.8 million or $128,571 per unit. The 16,518-square-foot Charlotte Rose Apartments sold for $1.4 million or $87,500 per unit. The 10,800-square-foot Sara Anne Apartments sold for $1.45 million or $85,294 per unit.
The seller was represented by Clay Newton of CV Newton, while the buyer was self-represented.
Please see CoStar COMPS #2485840, #2485864, and #2485865 for more information on these transactions.