PREMIUM PRICING THROUGH PROVEN EXECUTION
CORNELL APARTMENTS
CLIENT GOAL
The seller of Cornell Apartments was ready to exit active property management and capitalize on the long-term value appreciation of this well-located, legacy asset. Located in the Cedar Hills neighborhood of Portland, just north of Beaverton, the property offered rare suburban appeal—but previous efforts to sell off-market had proven unsuccessful.
CHALLENGE
Prior to engaging The Christensen Group, the seller had received multiple off-market offers from other brokers that ultimately fell through during due diligence. Concerns about the age and original condition of the 1951 construction repeatedly caused buyers to back out—costing the seller time, energy, and opportunity. Smaller, older assets like Cornell Apartments require thoughtful positioning and alignment with experienced buyers who know how to underwrite classic construction.
ACTION
The Christensen Group launched a formal marketing campaign that focused on the asset’s long-term value: a rare five-unit property in a high-demand, low-density suburban neighborhood with proximity to Nike, Intel, and top-rated schools. We identified qualified buyers who had previously closed on similar vintage properties and ensured upfront vetting to minimize retrades or surprises. By steering clear of speculative offers and focusing on serious, experienced investors, we restored momentum and created certainty.
RESULT
Cornell Apartments closed for $850,000 at a 3.61% cap rate—a standout result for a five-unit 1950s property. The transaction demonstrates the value of pairing the right asset with the right buyer and highlights how experienced representation can avoid costly setbacks. In a market where time kills deals, this closing reinforces The Christensen Group’s reputation for strategic execution, buyer insight, and delivering premium results—even on small-scale multifamily.
CORNELL APARTMENTS – PORTLAND, OR
Selling Price: $850,000
Year Built: 1951
Total Units: 5 Units
Cap Rate: 3.61% (Actual, July 2024)
Location: 9000 NW Cornell Road, Cedar Hills Neighborhood
Square Footage: 4,136 Rentable SF