Trymax Apartments
16405 E Burnside St, Gresham, OR 97233
42 units in Gresham, OR
$5,950,000
Property Highlights
Desirable 2BR/1BA Unit Mix with in-unit washer/dryers.
Additional Revenue Opportunities including underutilized detached garages and the potential implementation of RUBS(not currently in place).
Extensively Renovated Asset including new siding, windows, roofs, exterior paint, and interior upgrades.
Historically Low Vacancy demonstrating strong tenant demand.
Operational Value-Add Opportunity through improved expense management and revenue optimization.
The property consists of eight buildings situated across a 1.72-acre site, offering a classic Pacific Northwest setting with mature trees and landscaped grounds.
The quality of the asset and its location appeal to a stable tenant base, providing an investor with immediate operational stability.
The Trymax Apartments is a 42-unit multifamily community that represents a unique opportunity to acquire a turn-key asset in the strong submarket of Gresham, Oregon.
Originally constructed in 1992 and recently renovated, the property features spacious two-bedroom, one-bathroom floorplans with washer/dryer hookups and functional living spaces. The community also includes 12 detached garages, providing an additional source of rental income.
The asset has been meticulously maintained and extensively improved in recent years, with significant capital upgrades including new siding (2023), new windows (2023), new exterior paint (2023), and new roofing on all buildings and garages (2021). Interior upgrades have been implemented consistently over the past decade, including proactive replacement of cabinets, countertops, flooring, appliances, doors, and fixtures across a large sample of units.
This ongoing commitment to maintenance and improvements has resulted in historically low vacancy and strong tenant retention.
Location Overview
The Trymax Apartment community is located in the Rockwood neighborhood of East Multnomah County, while advantageously situated within the city of Gresham rather than Portland.
The area offers a diverse mix of residential and commercial amenities, with convenient access to public transportation, services, and major commuter routes.
Trymax Apartments represents a true pride-of-ownership asset aligned with the current market trend toward higher-quality multifamily investments. The property offers a compelling operational value-add opportunity through improved management efficiencies and revenue optimization. Current average rents as of March 2026 are approximately $1,458 per unit, with the potential for modest rental growth and additional revenue generation through garage monetization and the future implementation of RUBS. These opportunities provide a realistic path for anew owner to increase revenue over time and achieve a projected cap rate exceeding 7%.
Extensive Interior Upgrades have been made across a large sample of units, including proactive replacement of:
Cabinets
Countertops
Flooring
Appliances
Interior/Exterior Doors
New fixtures throughout
The Trymax Apartments present a strong opportunity to invest in a turn-key apartment community, with a compelling operational value add opportunity to be capitalized on. A truly unique investment offering at an attractive price point. The property provides a quiet residential setting, with the buildings set back from Burnside and access points from both E. Burnside Street and NE 165th Avenue.
Capital Improvements
New Siding (2023)
New Milgard Windows (2023)
New Exterior Paint (2023)
New Roofing, All Buildings (2021)
The Trymax Apartments present a strong opportunity to invest in a turn-key apartment community, with a compelling operational value add opportunity to be capitalized on.
A truly unique investment offering at an attractive price point.