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8309-8329 N Dwight Ave 8 Unit Apartment Building $1,718,000 ($214,750/Unit) 4.76% Cap Rate Portland, OR 97203
Investment Highlights
- Eight-unit configuration offering strong rental income and low vacancy historically.
- Units feature modern appliances including range and refrigerator.
- Located within the Portsmouth neighborhood with easy access to Lombard Street and public transit.
- Landscaped common front yard providing green space for tenants.
- Assigned parking and coin laundry facilities add convenience onsite.
- Projected rent increase of 9% effective August 2026 for enhanced yield.
Executive Summary
Exceptional opportunity to acquire an 8-unit multifamily property in the desirable Portsmouth neighborhood of Portland. Situated on 0.58 acres across two legal tax lots, this property offers steady income with a 9% projected rent increase planned for August 2026. Each unit includes two bedrooms and one bathroom, with modernized interiors featuring ranges and refrigerators, natural lighting, and efficient layouts. Tenants enjoy access to a common front yard, landscaped green space, on-site coin laundry, and assigned parking areas that enhance convenience and usability.
Portsmouth is a highly walkable neighborhood known for its residential charm and connectivity, providing easy access to Lombard Street and local service businesses. Located near Roosevelt High School and within proximity to major transportation routes, this property appeals to both seasoned investors and owner-operators looking for consistent rental income with strong location fundamentals. A 1031 exchange opportunity is available with simultaneous closing required, making this an advantageous investment in a sought-after neighborhood.
Portsmouth is a highly walkable neighborhood known for its residential charm and connectivity, providing easy access to Lombard Street and local service businesses. Located near Roosevelt High School and within proximity to major transportation routes, this property appeals to both seasoned investors and owner-operators looking for consistent rental income with strong location fundamentals. A 1031 exchange opportunity is available with simultaneous closing required, making this an advantageous investment in a sought-after neighborhood.
Property Facts
| Price | $1,718,000 | Building Class | C |
| Price Per Unit | $214,750 | Lot Size | 0.59 AC |
| Sale Type | Investment | Building Size | 6,370 SF |
| Cap Rate | 4.76% | No. Stories | 1 |
| No. Units | 8 | Year Built | 1955 |
| Property Type | Multifamily | Parking Ratio | 0.94/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | N/Av | ||
| Price | $1,718,000 |
| Price Per Unit | $214,750 |
| Sale Type | Investment |
| Cap Rate | 4.76% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.59 AC |
| Building Size | 6,370 SF |
| No. Stories | 1 |
| Year Built | 1955 |
| Parking Ratio | 0.94/1,000 SF |
| Zoning | N/Av |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | - | - |
1 1
Fairly walkable
50/100
Moderately drivable
60/100
Some public transit
40/100
Very bikeable
80/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $557,640 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$557,640
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8309-8329 N Dwight Ave