Optimus Properties LLC purchased a 70-unit apartment community Valley Park Plaza Apartments in Beaverton, Oregon in a $12.01 million ($171.5k/unit) transaction.
The property features 1-2/bed and 1-1.5/bath floorplans ranging in size from 650 to 1,200 square feet. All units have plenty of kitchen cabinets, dishwasher, oven range, refrigerator and some come with ceiling fan in dining room. The community has amenities such as a seasonal pool, two on-site laundry facilities, on-site maintenance, a playground and a tennis court. A neighborhood park with walking and biking paths is located nearby.
Valley Park Plaza Apartments is located only minutes from downtown Portland and other surrounding cities and is surrounded by strong nationwide companies like Intel, IBM, Oracle, Providence Health & Services, Oregon Health and Science, Nike U.S. Headquarters, Fred Meyer, and Tektronix, which all contribute to over 100,000+ jobs and are key employment drivers for the area. The community is close to great restaurants, shopping, dining, theatre and a bowling alley.
Optimus’ business plan will be to improve the exterior appearance through enhanced cosmetic upgrades and improve operational efficiencies, which will increase the community’s curb appeal.
Optimus plans to fully lease-up the property to maximize cash flow. The acquisition aligns with the firm’s investment strategy to provide essential housing in strong employment hubs, and also builds on Optimus’ growth in the Portland MSA.
Optimus Properties, LLC was started by two brothers, K. Joseph Shabani and Kamyar Shabani, in 2007. But the roots of the Company were laid many years earlier by the brothers’ father, Houshang Shabani, who brought his family to the United States in 1978, as political and religious refugees. Having grown up in Los Angeles, Joseph and Kamyar share a love for their hometown that is reflected in their business strategies. Since 2007, our mission has been to empower our investors to achieve their financial goals by setting ambitious milestones guided by a core mission of shared values and principles.
