SOLD | Meadowbrook Apartments, McMinnville

Details
Units48
Price$4,800,000
Cap Rate6.00%
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Meadowbrook Apartments is located at 2048 NE Highway 99W right off Highway 99W and within walking distance to numerous amenities.  This 48 Unit complex consists of 16 1 bed/1 bath units and 32 2 bed/1 bath units.  The complex sits on over 4 acres of landscaped grounds adjacent to Wortman Park consisting of over 20 acres making it one of McMinnville’s largest community parks.  Meadowbrook Apartments features natural wildlife and two creeks that run through the property adding to the beautiful park-like setting.

Meadowbrook Apartments is an affordable housing project where 60% of the units must be reserved for affordable housing through HAYC (Housing Authority of Yamhill County).

Gabe Johansen, Principal Broker of SMI Commercial Real Estate, LLC is a general partner of the syndication that sponsored the acquisition.

Gabe’s Other Properties