46-Unit The Ranch In Gresham, OR With Caleb Webster, Multifamily Syndication Expert

46-Unit The Ranch In Gresham, OR With Caleb Webster, Multifamily Syndication Expert

From Multifamily Investor Nation by PassiveInvesting.com

May 4, 2026 · 28 min

About this episode

Whitney Elkins-Hutten interviews Caleb Webster about his acquisition of a 46-unit apartment complex in Gresham, OR, discussing strategies for success in a challenging market.

Whitney Elkins-Hutten of PassiveInvesting.com   interviews multifamily syndication expert Caleb Webster about his recent acquisition: The Ranch, a 46-unit apartment complex in Gresham, OR. While Portland, OR is currently ranked 81st out of 82 markets for investor attractiveness, Webster reveals how he successfully closed a pocket listing by identifying a unique "financial value-add" opportunity. He dives into acquiring a well-maintained, 1976-vintage property where the seller's expense ratio was over 60%, detailing how cutting costs—such as reducing trash pick-up and self-managing the property—added a significant day-one NOI bump. Learn how his team secured incredibly competitive 5-year fixed interest-only debt from Chase and navigated the long closing period to make this deal pencil in a challenging environment.

People in this episode

Host: Whitney Elkins-Hutten

Guest: Caleb Webster

Topics covered

  • multifamily syndication
  • real estate investment
  • financial value-add
  • property management
  • NOI
  • debt financing

Keywords

  • multifamily syndication
  • real estate
  • Gresham
  • NOI
  • debt financing
  • property management
  • financial value-add

Mentioned in this episode

Organizations: Chase

Books & works: The Ranch

Places: Gresham, OR, Portland, OR

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