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One24

Portland & Gresham, OR

One24

Overview

Location

Portland & Gresham, OR

Acquired

2019

Units

124

Acquisition Price

$20,800,000

Capital

$7,900,000

Status

Holding

One24 Apartments, previously named Halsey Station, is a 124-unit apartment community located in Portland’s economically vibrant and diverse East County submarket. The property was built in two phases and shares a Portland address and a Gresham address. Gresham is Oregon’s fourth largest city and one of Portland’s fastest growing submarkets.

TMR has close to $2,000,000 in interior and exterior renovations planned for One24. The renovation and repositioning strategy will bring new life to the currently underutilized property. In addition to income growth potential from renovations, there is an opportunity to apply modern property management practices which will support significant income and value growth potential.

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