7530 North Richmond Avenue
- Built in 2021 — minimal near-term capex exposure.
- 100% occupied.
- Onsite parking and storage.
- St. Johns submarket benefiting from continued North Portland demand.
Property Description
Built in 2021, this 11-unit apartment building is located in Portland’s St. Johns neighborhood and is currently 100% occupied following a recent lease-up. The property offers a desirable unit mix consisting primarily of one-bedroom apartments, with additional upside as operations continue to stabilize. Offered at $2,300,000 at a 5.8% stabilized cap rate, the property is competitively priced relative to recent apartment sales in St. Johns and North Portland.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,300,000 |
| No. of Units: | 11 |
| Year Built: | 2021 |
| Lot Size: | 0.12 Acres |
| Opportunity Zone: | No |
| Price per unit: | $209,091 |
| Property Website | Click Here |
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout