9404-9416 N Lombard St - Apartments FOR SALE


Portland, OR 97203- St Johns
$1,475,000 USD
503-222-0282
9404-9416 N Lombard St, Portland, OR for Sale
$1,475,000 USD
Apartments - FOR SALE
1/22
null | 5.22% Cap Rate

9404-9416 N Lombard St
Portland, OR 97203
St Johns


HIGHLIGHTS

  • Close-in Suburban St. Johns location
  • Turn-key with new roof, appliances, flooring/carpets and interior/exterior paint
  • Assumable 3.47% debt fixed until 4/2027

OVERVIEW

Exceptional 6-unit multifamily opportunity in the vibrant St. Johns neighborhood! This turnkey asset features a desirable mix of one, two, and three-bedroom units, all renovated with modern upgrades, including new kitchens, flooring, vinyl windows, and fresh interior and exterior paint. Each unit is equipped with washer/dryer hookups and off street assigned parking. The property is platted as individual condominiums on a large corner lot, providing future flexibility. A new roof (2022) and newer stainless steel appliances enhance long-term durability and appeal. Located in a prime area with easy access to major employers, dining, shopping, public transportation, and downtown Portland, this property ensures strong rental demand. The gross monthly income of $9,680 plus $415 in utility bill-backs delivers a solid cash flow, with assumable financing (3.47%) available for qualified buyers. Don’t miss this rare opportunity to acquire a well-maintained, income-generating asset in one of Portland’s growing sub-markets.

FOR SALE DETAILS

PRICE

$1,475,000 USD

PRICE/SF

$315 USD /SF

# OF UNITS

6

PRICE/UNIT

$245,833

CAP RATE

5.22%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1964

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

RM2

APN/PARCEL ID

R600904

ASK ABOUT THIS PROPERTY

Cory CarlsonConstant Commercial Real Estate IncMore Info
503-222-0282

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Cory CarlsonConstant Commercial Real Estate IncMore Info
503-222-0282

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.