Lombard Lofts

Investment Overview

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.

Investment Highlights

• Built in 2021 — minimal near-term capex exposure.
• 100% occupied.
• Onsite parking and storage — untapped ancillary income opportunity.
• St. Johns submarket benefiting from continued North Portland demand.