Updated Oct 12, 2026
Next Wave Investors LLC Acquires 180-Unit Multifamily In Portland, OR For $34M
224 Southeast 188th Avenue, Portland, Oregon 97230, United States
$34,000,000
Units
180
Asset Type
MultiFamily
Closing
Sep 15, 2022
About this deal
AI
The multifamily property located at 224 SE 188th Ave in Portland, OR has been sold. The transaction took place on September 16, 2022, with a sale price of $34,000,000. This property consists of 180 units, resulting in a price per unit of $188,889.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $34,000,000
- Address: 224 SE 188th Ave, Portland, OR
- Market: Portland, OR
- Units: 180
- Price per Unit: $188,889
- Buyer: Next Wave Investors LLC
Next Wave Investors LLC served as the buyer in this transaction, representing their interests. This sale represents a significant investment in the Portland, OR market and highlights the continued demand for multifamily properties in the area.
On the Map
$34,000,000
MultiFamily
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Players
Portland MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93