Lombard Lofts

Discover the vibrant energy of Portland, Oregon, surrounding the property at 7530 North Richmond Avenue. This eclectic neighborhood offers a mix of urban amenities and natural beauty, drawing in residents seeking a dynamic lifestyle. The area boasts proximity to iconic landmarks such as Forest Park, the Portland Art Museum, and the lively Pearl District. With a thriving culinary scene, eclectic boutiques, and a bustling cultural community, the location offers an attractive opportunity for Multifamily/High-Rise investors looking to tap into the city's diverse and growing market. Experience the perfect blend of city living and outdoor adventure in this coveted Portland neighborhood.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.