Canterbury Terrace

Canterbury Terrace presents the opportunity to acquire a well-maintained 28-unit multifamily asset in Tigard’s highly desirable Canterbury Hill / Bull Mountain neighborhood within Washington County, one of the Portland metro’s most sought-after suburban submarkets. Current ownership has invested approximately $98,000 into major capital improvements over the past 24 months including roofing, gutters, parking lot asphalt work, and underground electrical infrastructure significantly reducing near-term capital expenditure needs for new ownership. The property offers a broad-appeal unit mix comprised primarily of spacious two-bedroom floor plans that continue to see durable demand from renters seeking affordable alternatives to newer construction, with current occupancy at 92.9%. Long-term tenancy throughout the asset has created meaningful loss-to-lease, providing a clear path to organic NOI growth through natural turnover and mark-to-market rent increases without the need for extensive interior renovation. Residents benefit from a connected suburban location with convenient access to Bridgeport Village, Washington Square, PCC Sylvania, Highway 217, and Interstate 5, placing major regional employers including Nike, Intel, and Providence within easy commuting distance. Complementing the investment story, Canterbury Terrace offers renter-friendly amenities uncommon for vintage product including in-unit air conditioning, dishwashers, private patios or decks, assigned parking, mature landscaping, and a low-density residential atmosphere that supports long-term tenant retention.