8338 North Interstate Avenue

• Modern & Sustainable Urban Design
• Transit-Oriented Location
• Market-Leading Finishes
• Large Average Unit Sizes
• Proximate to Major Employers
• Fully Occupied Minimal Retail Footprint

Property Description

Newmark is pleased to present the opportunity to acquire Northwood Apartments (the “Property”), located in the vibrant and trendy Kenton Neighborhood of North Portland. Constructed in 2015 and comprised of 57 units and 1,741 SF of occupied ground floor retail, Northwood has multiple market-leading finishes and features that set it apart from most urban new construction. The units are large with an average size of 735 SF and all have air-conditioning, gas ranges, luxury vinyl plank floors and quartz counters. Some units include walk-in closets, bay windows and large master bedrooms. The Property’s location offers access to both downtown Portland and Vancouver as well as nearby large employers including Adidas, Daimler, Vigor, Amazon, Port of Portland and the University of Portland. The Property’s transit-oriented location is just steps from a light rail stop which provides connectivity to job centers throughout the metro. Walkable amenities in the immediate area include a number of great restaurants, bars, bakeries, coffee shops, a farmer’s market and the 12 acre Kenton Park. Incomes in the area are strong with median incomes within 1 mile of $91,387 and average incomes of $118,408. Northwood Apartments provides the opportunity to purchase a high-quality multifamily asset in a historically strong rental market at a significant discount to replacement cost.