Victoria FLLLP Acquires The Kelly Building In Portland For $1.05M
4621 South Kelly Avenue
$1,050,000
$345/SF
Building Size
3,042 SF
Asset Type
Office
Closing
Apr 10, 2024
AI
The Kelly Building, an office asset located at 4621 South Kelly Avenue in Portland, Oregon, was sold for $1,050,000. The property spans 3,042 square feet, translating to a price per square foot of $345.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,050,000
- Address: 4621 South Kelly Avenue
- Market: Portland, OR
- Buyer: Victoria FLLLP
- Buyer's Rep: James Condon, Jason Payne & Sarah Condon - Utopia Management
- Seller's Rep: Mike Brown & Todd VanDomelen - Norris & Stevens
Victoria FLLLP successfully acquired The Kelly Building in Portland, Oregon. The buyer was represented by James Condon, Jason Payne, and Sarah Condon from Utopia Management. On the other side, the seller was represented by Mike Brown and Todd VanDomelen from Norris & Stevens.
Players
Portland Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.11%
Cash-on-Cash
-4.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93