Park Regency – Portland, OR

  • Type: Apartments
  • Size: 12,000 SF; 15 Total Units
  • Location: Portland, OR
  • Year Built: 1969
  • Broker: Steve Morris, Rick Funk, Andrew Hunter
  • Sale Price: $2,442,000

Park Regency  is a well-kept property being sold to resolve a trust. The property is located in NE Portland location with great WalkScore. All amenities are within walking distance. The property also has easy access to MAX transit line and to downtown Portland jobs.

The Challenge of the sale was that the owner wanted a quick sale and but at the same time maximize profit.  The solution that the team of Andrew, Steve and Rick came up with was to limit the call for offers to just 3 weeks.  They also came up with a marketing package as well as held an open house that generated seven offers at asking or above asking price.  At the end, the owner of Park Regency received multiple offers at asking and set a record for the highest price per unit in NE Portland.