4642 Riverview Multifamily 6-Plex in West Linn

Welcome to 4642 Riverview Avenue, the Mt. View Cottages in beautiful West Linn. A rare public offering of a six-unit apartment complex, Mt. View Cottages presents an extraordinary opportunity to step into an established complex with strong in-place income and proven upside. The property itself consists of six units, across three separate duplexes on one parcel. Three units have recently been renovated and leased close to market, with the remaining units ripe for a cosmetic renovation and rents to be reset to market rates.

Perched on a scenic vista, each unit faces Southeast with views across the Willamette River, through Oregon City and all the way to Mount Hood. The units feature efficient floorplans (either 1 or 2-beds), spacious galley kitchens and living rooms, a dedicated fenced balcony, and secure access to the on-site laundry facilities. The property is exceptionally located, walking distance to Sunset Elementary, West Linn High School, and numerous parks and nature reserves. Mt. View Cottages is also a short 5 minute drive from downtown West Linn as well as downtown Oregon City, grocery, retail, and employment. Mt. View Cottages is one of two currently available commercial multifamily properties on the open market, and is an attractive opportunity to unlock significant value from both an extremely desirable neighborhood and the proven, growing City of West Linn.

West Linn has a rich history since the early 1800’s. Originally inhabited by indigenous peoples, the area saw European-American settlement in the mid-1800s as pioneers arrived and established homesteads. The Willamette Falls Electric Company, formed in the late 19th century, played a significant role in the development of the region. The town was incorporated in 1913 and has since evolved from a lumber and industrial center into a vibrant suburban community.

The area has a convenient location, just South of Lake Oswego and one of a trio of cities in the immediate region, sharing the scenic area with Gladstone and Oregon City. Downtown West Linn, just South of the subject property, features numerous historical buildings and adds to the safe, scenic atmosphere of the city. Nearby Oregon City, directly across the Willamette River and within 1.5 miles of the subject property, also provides a rich downtown core with restaurants, retail, and many other attractions. The City has a strong sense of community as well as a diverse economy. Historically
strongly supported by the lumber and industrial sectors, the healthcare, education, and professional sectors have grown substantially within the City. The close proximity to the Portland MSA also helps support the area’s local economy. The West Linn-Wilsonville School District is a top-rated school district and consistently attracts families to the area. Recreational opportunities abound in the area; 600-acres of beautiful parks, over 25 miles of trails, athletic fields, the Mary S. Young Recreation Area, and numerous other attractions are within minutes.

West Linn is a very desirable City near the Portland, Oregon MSA, with record low “for-sale” inventory of both residential and multifamily. Extreme supply constraints of multifamily and high-density residential in the area has led to a record-low vacancy rate of <1%. Since 2000, roughly 90 building permits have been pulled annually, with less than 12% being multifamily. The area has strong demographics, with median household income over $120,000 and median home pricing far above the national average. West Linn continues to be a popular destination for families young and old, and presents a stable, proven, and growing marketplace.