17th Street Apartments
17TH STREET APARTMENTS – SPRINGFIELD, OR
Selling Price: $1,675,000
Year Built: 1994
Total Units: 13 Units
Deal Type: Long-Term Ownership, Light Value-Add
Buyer: Oregon-Based All-Cash Investor
CLIENT SUCCESS STORY – FAST EXECUTION ON A RARELY AVAILABLE ASSET
CLIENT GOAL
The sellers—original builders and long-time owners of the 17th Street Apartments—were seeking to divest after nearly 30 years of ownership. With the property never before brought to market, their goal was to secure a smooth sale process while ensuring the asset’s legacy would be passed on to a capable new owner.
CHALLENGE
At the time of listing, four of the thirteen units were vacant, presenting potential concerns for financing and rent roll stability. In addition, after decades of stable ownership, the property required a fresh narrative to resonate with today’s investor pool.
ACTION
The Christensen Group implemented a targeted marketing strategy that emphasized the property’s strong fundamentals, desirable location, and the rare opportunity to acquire a well-maintained asset from original ownership. Through strategic outreach, we curated a competitive buyer pool and positioned the asset as a light value-add opportunity with operational upside.
RESULT
Despite the vacancies, multiple tours were conducted, and a qualified all-cash buyer was procured in just 49 days. Impressively, the deal moved from contract to close in only three weeks —a testament to the preparation, momentum, and alignment on both sides of the transaction.
This successful closing illustrates the advantage of working with a specialized apartment brokerage who understands the nuances of local markets and how to craft a compelling story around a property’s future. We’re proud to have delivered a seamless result for both the Buyer and Seller.