2315 N Lombard St 4 Unit Apartment Building $865,000 ($216,250/Unit) 6.24% Cap Rate Portland, OR 97217

A standout opportunity in the heart of North Portland’s sought-after Kenton neighborhood, this well-maintained 4-plex offers the perfect combination of location, versatility, and investment potential. Built in 1996, the property features four spacious units with open, functional floor plans, including (2) 2-bedroom, 1-bath units and (2) 1-bedroom, 1-bath units. Each residence has its own covered front porch or deck, creating a welcoming sense of privacy and outdoor space. The property is currently occupied by long-term, stable tenants, offering an established rental history and added appeal for investors seeking an income-producing property. Around back, a paved and fully fenced parking area provides dedicated off-street parking for four vehicles, a huge bonus in this popular neighborhood. The building’s nicely kept condition makes this an appealing option for investors looking to add a strong multifamily property to their portfolio or an owner-occupant ready to live in one unit while generating income from the others. Just six blocks from downtown Kenton and close to neighborhood restaurants, shops, parks, and everyday amenities, this is a fantastic chance to own a multifamily property in one of North Portland’s most vibrant and desirable communities.