330 Dekum Apartments 330 NE Dekum St 34 Unit Apartment Building $5,175,000 ($152,206/Unit) 5.91% Cap Rate Portland, OR 97211

Rare Opportunity to Acquire Newer Portland Multifamily
Built in 2022, 330 Dekum offers a new investor the chance to acquire a four-year
old, 39-unit asset at a basis well below replacement cost in one of Portland’s most
constrained infill submarkets. With virtually no comparable new supply underway in
the immediate area, the property provides durable, newer-vintage housing stock in
a market where development has effectively stalled due to construction costs and
regulatory friction.
Clear Operational Upside Through Lease-Up and Rent Optimization
Current operations reflect meaningful room for improvement, with trailing vacancy and
bad debt running well above stabilized levels for a newer asset. A focused operator
can drive immediate NOI growth by restoring occupancy, tightening collections, and
marking in-place rents to market resulting in a straightforward, execution-driven path
to value creation without the capital, timeline, or risk of a traditional renovation play.
Above-Standard Interior Finishes in a New-Construction Envelope
Unit interiors feature quartz countertops, espresso cabinetry, stainless steel
appliances with dishwashers, LVP flooring, ceiling fans, and oversized windows that
flood each home with natural light. Private balconies and patios extend the living
space outdoors, delivering a finish level and livability that rivals far more expensive
new-construction product elsewhere in Portland.
Well-Conceived Community Amenities Tailored to the Renter Profile
Resident amenities are purpose-built for the urban Portland renter, including secured building
entry with a dedicated package room, interior bike storage, and on-site laundry. The combination
provides convenience, security, and practicality key decision drivers for the young professional
and creative-class residents drawn to the Woodlawn neighborhood.
Walkable Woodlawn Near Top NE Portland Districts
330 Dekum sits within steps of the Woodlawn Triangle at NE Dekum & Durham, a charming, locallyowned
commercial cluster featuring Breakside Brewery, LaVerne’s, Firehouse Restaurant, Good
Neighbor Pizzeria, and Woodlawn Coffee & Pastry, with neighborhood favorites P’s & Q’s Market
and Lil’ Barbecue along the Dekum corridor. Residents also have quick access to two of Portland’s
signature food-and-shopping destinations the Alberta Arts District to the south and Mississippi
Avenue to the west each packed with celebrated restaurants, boutique retail, coffee roasters, and
nightlife. Daily essentials are covered by New Seasons Market, Safeway, the Woodlawn Farmers’
Market and Woodlawn Park just blocks away, giving residents an authentically walkable Portland
lifestyle that continues to drive in-migration to inner NE.
Strong Regional Connectivity to Portland’s Major Employment Centers
330 Dekum offers residents efficient access across the Portland metro via the MAX Yellow Line,
multiple frequent-service TriMet bus routes, and I-5 all within minutes of the property. Adidas North
American Headquarters in the Overlook neighborhood, Downtown Portland, the Lloyd District,
and Portland International Airport are all within a 15-20 minute drive, positioning the property as
an ideal home base for the young professional and creative-class workforce that defines inner NE
Portland.