12-Unit Net-Zero Apartment
For Sale
$3,400,000
6375 N Lombard St, Portland, OR 97203
Newly constructed multifamily property with corner residences, full lease-up, and an energy-efficient operating profile.
Property Size8,325 SF
Price / SF$408.41
Days on Market70
Property Features for 6375 N Lombard St
General Information
Standard status
Active
Size
8,325 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Neighborhood
Portsmouth
Public Transit
Yes
Additional Details
Multifamily Units
12
Building Details
Year Built
2025
Listing Agency:
McCleary Realty
Listed By:
George McCleary · License #200409141
(503) 332-1610
Source:
Christiesrealestateevg
Added: Aug 15
Changed: Oct 12
Last Checked: Oct 7 at 2:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of McCleary Realty
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Investment Insights
Based on property information with market context.
Completed in 2025, this 8,325-square-foot apartment building contains 12 modern units, each positioned on a corner. The property was designed around energy-efficient operations and carries a net-zero energy profile. All units are leased, providing a stabilized multifamily configuration for ownership.
The building is located at 6375 N Lombard St in Portland, directly across from New Seasons. Its setting offers access to shopping, dining, parks, and transit along a walkable stretch of N Lombard.
The building is located at 6375 N Lombard St in Portland, directly across from New Seasons. Its setting offers access to shopping, dining, parks, and transit along a walkable stretch of N Lombard.
Key Highlights
- 12‑unit apartment building completed in 2025
- 8,325 square feet of multifamily improvements
- Net‑zero energy profile designed for energy‑efficient operations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,893
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,137,860
$2.1M
Cap Rate 7%
$1,527,043
$1.5M
Cap Rate 9%
$1,187,700
$1.2M
Market Conditions
NOI Build-Up for 8,325 SF
Gross rent
$204.8K $24.60/SF
− Vacancy
−$10.4K −$1.25/SF
EGI
$194.4K $23.35/SF
− OpEx
−$87.5K −$10.51/SF
NOI
$106.9K $12.84/SF
Area
Portland, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,137,860
Cap Rate 7%
$1,527,043
Cap Rate 9%
$1,187,700
Alternative Uses
Best Use
Apartment 5plus
$1.53M
$1.34M – $1.78M
NOI $106,893 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.34M
$2.05M – $2.73M
NOI $163,651 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
12
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Explore this area
Business Placement
Demographics for 97203, OR
33,763
Population
13,462
Households
2.5
Avg Household Size
34
Median Age
45%
College-Educated
90%
High-School Grad
10.8 sq mi
ZIP Area
3,126
Density / Sq Mi
$77,619
Median Household Income
$46,152
Median Earnings
$1,551
Median Rent
$468,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Newly constructed multifamily property with corner residences, full lease-up, and an energy-efficient operating profile.
Where is this apartment building located?
The property is located at 6375 N Lombard St Portland, OR.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: 12‑unit apartment building completed in 2025; 8,325 square feet of multifamily improvements; Net‑zero energy profile designed for energy‑efficient operations
