HOMMA HAUS
Portland, OR
Asset Summary
Investment Highlights
- Modern Smart Home Community: High-end, two-bedroom townhouses with spacious layouts, patios and balconies, in-unit washers and dryers, ample storage, and fenced-in privacy, and integrated smart home technology controlled via direct connection to a mobile app
- Centrally Located in Desirable Neighborhood: Steps from Mount Tabor park in the North Tabor neighborhood, which is rated an A on Niche.com for schools, family living, and nightlife
- Opportunity to Sell Individual Units: Condo plat established prior to rental leases — opportunity for upside by selling individual townhome units
- Strong Renter Demographics: Renter households exceed owner-occupied households within a five-mile radius of the property, and the cost of monthly home ownership within one mile is over 50% more expensive than HOMMA HAUS rents
18 Premium Townhomes in Portland’s Coveted North Tabor Neighborhood
HOMMA HAUS Mount Tabor is a first-of-its-kind “smart home” townhome community with 18 units, located within four miles of downtown Portland and with easy access to public transit. This community was designed by HOMMA and constructed in partnership with Green Hammer, a local general contractor specializing in sustainability and energy efficiency, and features intuitive lighting, security and other intelligent design elements.
This property has achieved a 10% rent premium relative to its comparables, demonstrating the attractiveness of the HOMMA design aesthetic, as well as the market value for the “smart home” experience. A condo plat has been established prior to leases being signed, allowing for additional future flexibility to sell units individually without needing to go through a conversion process.
