Crown Point Apartments

The Property:

Built in 1967, Crown Point offers unusually spacious studio, one-, two- and three-bedroom apartments averaging roughly 1,072 square feet. Unit sizes of that scale are rare in Portland’s older inner-southeast stock, where comparable vintage buildings typically deliver far smaller floor plans. The property includes off-street parking, on-site laundry, private patios, and balconies. It is within walking distance of Southeast Division Street, Hawthorne Boulevard, and Mount Tabor Park.

Opportunities and Challenges:

The building required exterior work at the time of closing, which added complexity for both the seller and prospective buyers.

Results:

HFO drew on its relationships across the Pacific Northwest multifamily market to identify a buyer who understood the property’s long-term potential and was prepared to take on the necessary improvements. The transaction marked the final multifamily disposition for a longtime ownership group and was completed as part of the family’s estate planning strategy. HFO brokers Greg Frick and Lee Fehrenbacher of HFO represented the parties in the transaction.