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5/10/16
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Northwest Communities LLC purchased the Corbett Building, an historic, mixed-use building in southwest Portland, for $2.25 mil. The property is located at 5901-5915 Corbett Ave, a few blocks away from the busy thoroughfare of SW Macadam Ave, within the John’s Landing neighborhood.
The fully leased property is comprised of eight residential apartment units and two retail spaces, currently occupied by the Corbett Fish House restaurant and JoLa Café.
The studio and one-bedroom units feature all the charming fittings and unique craftsmanship of a vintage property, such as claw-foot bathtubs, walk-in closets, fireplaces, French shutters and hardwood floors. The more modern amenities include on-site laundry, porches and wood windows.
Originally built in 1910, the building has undergone extensive renovations, including full seismic upgrades, a newer roof, skylights, exterior paint, upgraded electrical and plumbing throughout.
Jared Whipps of CBRE’s Capital Markets Multifamily Investment Properties negotiated the purchase on behalf of the buyer.
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