5880 Greeley AvePortland, OR 97217

This exceptional, newly constructed (2023) Class A apartment building in Portland, Oregon's desirable North Portland neighborhood presents a compelling investment opportunity. The property, located at 5880 N Greeley Ave, boasts 14 market-rate units, currently 100% leased, offering immediate cash flow. The building features a mix of studio and one-bedroom units, totaling 5,944 rentable square feet within a 7,249 square foot building on a 4,900 square foot lot. Modern finishes throughout include mini-split air conditioning, quartz countertops, private patios or balconies, and in-unit washer/dryers. The building's strong performance is reflected in its pro-forma NOI of $165,436 and a pro-forma cap rate of 5.01%. The asking price is $3,300,000, translating to $235,714 per unit. This three-story building represents a rare opportunity to acquire a high-quality, fully leased multifamily asset in a thriving Portland location. The landlord currently does not charge residents utility reimbursements. This property is situated in Multnomah County, Oregon, zip code 97217.