Sullivan’s Ridge is a 168-unit garden-style community in Portland, Oregon. Originally built in 1990, the property was acquired through a JV partnership and converted from a hotel to multifamily in 2020, featuring renovated interiors and refreshed amenities. Located in the highly accessible Lloyd District, Sullivan’s Ridge leverages its unique conversion, modernized product, and strong submarket fundamentals to deliver durable occupancy, stable cash flow, and long-term value creation.

Logo of Sullivan's Ridge featuring stylized mountains and the text 'Sullivan's Ridge'.
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PORTLAND, OR

Two apartment buildings with smoke rising from the top of one building.

1990 VINTAGE/
2020 RENOVATION

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168 UNITS

Image of a residential building with a driveway, trees, and signs indicating leasing office and entrance, surrounded by landscaped bushes and a sidewalk under a partly cloudy sky.
Modern living room with beige sectional sofa, black coffee table, two orange armchairs, and a fireplace. Open kitchen with black and white cabinets and pendant lights. Staircase and upper balcony overlooking the room.
Modern kitchen with white and dark cabinetry, open shelves with decor, a large kitchen island with seating, pendant lights above, and a door leading outside.
Conference room with a long table, black chairs, and a small seating area with two leather chairs and a side table, decorated with artwork, indoor plants, and pendant lighting.
Modern conference or meeting room with chairs around a table, wall decor, potted plants, and contemporary lighting fixtures.
Modern lounge area with a large flat-screen TV on a wooden accent wall, teal armchairs, gray sectional sofa with pillows, wooden coffee table, game table, and a small kitchenette in the background.
A living room with a large gray sectional sofa, two blue armchairs, abstract artwork on the walls, a wooden coffee table, and a window with white blinds.
Empty gym with treadmill and stationary bike near windows, wall mirror, and exercise equipment, sunlight coming through windows.
A modern waiting area with four brown armchairs arranged around a small black table, a glass coffee table, a snack and beverage vending machine, a refrigerator, a wall-mounted TV, and a long countertop with white stools. A window on the left wall let
Laundry room with multiple front-loading washing machines and dryers, blue control panels, and a yellow exercise ball in the background.
Kitchen with stainless steel refrigerator, electric stove, microwave, granite countertop, wooden cabinets, shelves with plants, and a striped rug.
Modern kitchen with stainless steel refrigerator, granite countertops, wooden cabinets, stainless steel stove, and small dining table with four stools.
Living room and kitchen in an apartment with wooden flooring, a beige sofa, a small table with plants, a white fridge, wooden cabinets, and a breakfast bar with bar stools.
Open-concept living room and kitchen with white walls, dark wood floors, and contemporary furniture. The living room features a gray sofa, a black coffee table, and a flat-screen TV on a wooden stand. The kitchen has wooden cabinets, a small counter
Interior of a modern apartment with a view of the living room, dining area, and kitchen. White walls, wooden floors, contemporary furniture, and kitchen appliances.
Living room with a wall-mounted flat-screen TV on a modern black and wood TV stand, a round coffee table with a glass vase and greenery, a beige sofa with decorative pillows, a fireplace with a wooden mantel, potted plants, and windows with white bli
A neatly made bedroom with a bed featuring striped bedding and a black throw pillow. The room has a black bedside table with a small lamp and decorative vase with greenery. There’s a wooden desk with a round mirror, various decor items, and a small w
A modern bedroom with a bed, bedside table, mirror, framed photographs on the wall, a potted plant, and an entrance to a bathroom in the background.
Small closet and bathroom vanity area with a few hanging clothes, shoes on the floor, a basket with clothes, a mirror, a plant, and bathroom essentials on the granite countertop.
Bathroom vanity with a large mirror, a granite countertop, and wooden cabinets. Toilet is visible through an open door. Decorative items and plants on the countertop.
Inside a small bathroom with a white toilet and bathtub, a cream shower curtain with gray stripes, white tiled walls, a partial view of a framed picture and a small black basket on the toilet tank.