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16405 E Burnside St, Gresham, OR 97233

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For Sale

$6,300,000

36,160 sqft

Estimated Payment

$ 32,723 /mo. †

6.76% APR for 30 yrs.
$0 in taxes
Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $174.23
    Price per square foot

  • 31-40 Years Old
    Age

Explore this Property

The Trymax Apartments is a community comprised of 42 units, and represent a unique opportunity to invest in a turn-key asset in the strong sub-market of Gresham, Oregon. The property was originally constructed in 1992 (recently renovated), and features large 2 bedroom 1 bathroom floor plans with Washer/Dryer hook ups and functional living spaces. The property also features 12 spacious garages on-site which provide additional revenue sources. The asset has been meticulously renovated & maintained in recent years, with significant capital improvements, including New Siding (2023), New Windows (2023), New Exterior Paint (2023), New Roofing on all buildings/garages (2021) and consistent unit upgrades over the past decade - which include pro-actively replacing cabinets, countertops, flooring, appliances, doors, fixtures, etc. on a large sample of units. This attention to detail has resulted in limited vacancy over the years and strong tenant retention. The community is located in the Rockwood neighborhood, a diverse and dynamic neighborhood located in East Multnomah County - but is advantageously situated within the city of Gresham (not Portland). The neighborhood features a mix of residential and commercial amenities, with ample access to public transportation and services. The property provides a quiet & serene residential setting, with the apartments being set back off of Burnside a bit - and access to the property being available on both E. Burnside & NE 165th Ave. The quality and location cater to a strong & stable tenant base - providing an investor with stability of operations day one. The community is comprised of 8 total buildings, spread out across a 1.72 acre site, with a classic NW treelined feel. The Trymax Apartments offer a true pride of ownership asset for an investor to step into, in line with the current trend of flight to quality, but also provides a significant operational value-add opportunity for a new owner to capitalize on by improving management efficiencies. The current rents in place as of November 2024 ($1,337, with no RUBS) trail the current market by approximately 15-20%, providing a realistic and attainable path for a new owner to increase revenue significantly over the first few years of ownership in order to achieve a 7%+ cap rate. *Trymax Apartments can purchased as an individual offering, or in conjunction with another 49 unit apartment complex (under the same ownership/management) on the same street as a package (*Call broker for additional details).
MLS# 11390562

Courtesy Of Joseph Bernard Investment Real Estate

(503) 546-9390

Property Features

  • Age
    31-40 Years Old
  • Architecture Style
    Other
  • Lot Size
    1.72 Acres

Map and Directions

Directions to 16405 E Burnside St, Gresham, OR 97233

Home seller CENTURY 21 North Homes Realty

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 North Homes Realty

(503) 652-2260
Learn More About Us

Mortgage Calculator

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Monthly Payment Breakdown

  • Principle and Interest
    $32,723
  • Property Taxes
    $0
  • Hazard Insurance
    $0
  • Private Mortgage Insurance
    $0
  • HOA Dues
    $0
  • Total Monthly Payment:
    $32,723

Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

Schools

Wilkes Elementary School

Grades KG-5 Public School

Portland, OR 97230 1.3 miles
17020 ne wilkes rd

429 total students
14:1 Student teacher ratio

School Rating: D

School Details

Hauton B. Lee Middle School

Grades 6-8 Public School

Portland, OR 97230 0.7 miles
1121 ne 172nd ave

794 total students
21:1 Student teacher ratio

School Rating: F

School Details

Reynolds High School

Grades 9-12 Public School

Troutdale, OR 97060 4.5 miles
1698 sw cherry park rd

2624 total students
23:1 Student teacher ratio

School Rating: C-

School Details
Other Nearby Schools Distance Type Grades School Rating
Open School East 0.2 miles Private 9-12
Oliver Middle School 0.5 miles Public 6-8 C+
Alder Elementary School 0.6 miles Public PK-5 F
Parklane Elementary School 0.6 miles Public KG-5 C
Glenfair Elementary School 0.6 miles Public KG-5 D
Patrick Lynch Elementary School 0.8 miles Public KG-5 C
Harmony Montessori School 1 miles Private PK-6
Morningstar Montessori House Of Children 1 miles Private PK-KG
Rockwood Preparatory Academy 1 miles Public KG-7 B
Hartley Elementary School 1.2 miles Public KG-5 F
Margaret Scott Elementary School 1.4 miles Public KG-5 C-
Serendipity Center 1.4 miles Private 2-12
Davis Elementary School 1.6 miles Public PK-5 D-
David Douglas High School 1.6 miles Public 9-12 D
Centennial Middle School 1.6 miles Public 6-8 D+
Franciscan Montessori Earth School 1.7 miles Private UG
St Therese School 1.7 miles Private PK-8
Meadows Elementary School 1.7 miles Public KG-5 C+

Open School East

Distance: 0.2 miles

Type Private

Grades: 9-12

Oliver Middle School

Distance: 0.5 miles

Type Public

Grades: 6-8

C+

Alder Elementary School

Distance: 0.6 miles

Type Public

Grades: PK-5

F

Parklane Elementary School

Distance: 0.6 miles

Type Public

Grades: KG-5

C

Glenfair Elementary School

Distance: 0.6 miles

Type Public

Grades: KG-5

D

Patrick Lynch Elementary School

Distance: 0.8 miles

Type Public

Grades: KG-5

C

Harmony Montessori School

Distance: 1 miles

Type Private

Grades: PK-6

Morningstar Montessori House Of Children

Distance: 1 miles

Type Private

Grades: PK-KG

Rockwood Preparatory Academy

Distance: 1 miles

Type Public

Grades: KG-7

B

Hartley Elementary School

Distance: 1.2 miles

Type Public

Grades: KG-5

F

Margaret Scott Elementary School

Distance: 1.4 miles

Type Public

Grades: KG-5

C-

Serendipity Center

Distance: 1.4 miles

Type Private

Grades: 2-12

Davis Elementary School

Distance: 1.6 miles

Type Public

Grades: PK-5

D-

David Douglas High School

Distance: 1.6 miles

Type Public

Grades: 9-12

D

Centennial Middle School

Distance: 1.6 miles

Type Public

Grades: 6-8

D+

Franciscan Montessori Earth School

Distance: 1.7 miles

Type Private

Grades: UG

St Therese School

Distance: 1.7 miles

Type Private

Grades: PK-8

Meadows Elementary School

Distance: 1.7 miles

Type Public

Grades: KG-5

C+

School information does not guarantee enrollment. School service boundaries are provided as a reference only, may change, and are not guaranteed to be accurate. Contact the school district directly to verify school enrollment eligibility.

Local area information for Gresham, OR 97233

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Gresham, OR 97233

This community’s employment is highest in the sales and administrative support industries. The area’s overall household expenses are below the national average.

80° August
Hottest Average Month
34° January
Coldest Average Month
13,157 Total Households in Area
-3% Increase in population since the year 2010
31.6%
of households
have children
29 minutes
Median Commute Time

Household Expenses vs National Average

This location’s average annual expenditures by category compared to the national average. Index score (100=National Average)

Demographic facts
for Gresham, OR 97233

Gresham, OR 97233 has a population of 37,421 people in 13,157 households with a median age of 37.2 years old.

-3%
Decrease in population
since the year 2010
Population is Trending down
13,203
Total households as of 2010
2.7%
projected percent change in total
households in 5 years

Community Population By Age

The median age for this area is 37.2 years old. The smallest percentage group is 25-34 years and the largest percentage is the 85+ years age range.

Community Population By Ethnicity

White 49%
Hispanic 24%
Other 14%
Asian 13%
Black 9%
Native American 2%
The most prevalent ethnicity is White at 49%, followed by Hispanic at 24%, Other at 14%, and Asian at 13%.

Economics
for Gresham, OR 97233

8,258 /sq mi
Population Density
$51,723 /yr
Median Household Income
$415,000
Median Sales Price
29 min
Median Commute Time

Household Expenses vs National Average

This location’s average annual expenditures by category compared to the national average. Index score (100=National Average)

Household by Income

Out of the households in this area, the largest income group is $50-74,999k representing 19.45% of the households.

Transportation to Work

  • Drive 81%
  • Work from Home 9%
  • Public Transit 8%
  • Walk or Bike 3%

Occupancy by Type

Owned 6,952 51%
Rented 6,205 45%
Vacant 586 4%

White vs Blue Collar Jobs







White Collar 57%
Blue Collar 43%

Family & Education Facts
for Gresham, OR 97233

37.2 Median Age

Average Household Size

2.8
persons per
household

37.2%

Married Households

Community Population By Education

High School Graduate 29%
Some College 24%
Some High School 17%
Associates Degree 13%
Bachelors Degree 12%
Graduate Degree 6%
Of the total people surveyed, the most prevalent educational attainment level is High School Graduate, representing 28.54% of the population.

Household Family Expenses vs National Average

This location’s average annual expenditures compared to the national average. Index score (100=National Average)
31.6% of households have children

Weather
for Gresham, OR 97233

The weather for this area ranges from a high of 80° F in August to a low of 34° F in January

80° August
Hottest Average Month
34° January
Coldest Average Month

Average Temperature by Month

Low (°F)
High (°F)
Jan
34°
45°
Feb
36°
50°
Mar
38°
55°
Apr
41°
61°
May
46°
68°
Jun
50°
73°
Jul
54°
80°
Aug
54°
80°
Sep
50°
75°
Oct
44°
64°
Nov
39°
52°
Dec
35°
46°

Average Temperature in Degrees Fahrenheit

Precipitation

Precipitation (inch)

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Copyright © 2025 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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