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10650 Southwest 121st Avenue

Updated May 12, 2025

Spencer Palmer Of Montgomery Partners Acquires 53-Unit Garden-Style Apartment Complex In Tigard For $9M
SOLDMultiFamily

Spencer Palmer Of Montgomery Partners Acquires 53-Unit Garden-Style Apartment Complex In Tigard For $9M

10650 Southwest 121st Avenue

$9,000,000

Units

53

Asset Type

MultiFamily

Closing

Apr 29, 2025

About this deal

AI

The property involved in the transaction is a 53-unit garden-style apartment complex located at 10650 Southwest 121st Avenue in Tigard, Oregon. The asset spans 4.56 acres and is classified as MultiFamily. The transaction was completed on April 29, 2025, with a sale price of $9,000,000, translating to a price per unit of $169,811.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $9,000,000
  • Units: 53
  • Price Per Unit: $169,811
  • Address: 10650 Southwest 121st Avenue
  • Market: Tigard, OR
  • Acres: 4.56
  • Buyer: Spencer Palmer - Montgomery Partners

Montgomery Partners has recently entered the Pacific Northwest market with this acquisition, targeting a value-add renovation strategy for 45 units and shared amenities. This approach is intended to capitalize on strong local housing demand.

Players

MP
Montgomery PartnersBuyer

Portland MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $169.8K per unit across 53 units on a published $9M (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.76%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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