4738 SE Belmont St Portland, OR 97215

This exceptional new construction mixed-use property in Portland's desirable Belmont neighborhood presents a compelling investment opportunity. The building, completed in 2022, boasts 20 units: fifteen studios with one bathroom and four one-bedroom, one-bathroom apartments. A significant 1,124 square foot retail space, leased on a triple net (NNN) basis, adds further income potential. The building's total square footage is 9,690, situated on a lot ranging from 5,000 to 6,999 square feet. High-quality finishes, including sleek custom cabinetry and stainless steel appliances, are featured throughout the apartments, complemented by in-unit washers and dryers and a bike rack. The property benefits from a 15-year rent control exemption and enjoys a prime location, just 0.6 miles from Laurelhurst Park and within easy walking distance of Hawthorne's vibrant shops and restaurants. The property's strong financial performance is reflected in its 5.61% cap rate and a net operating income (NOI) of $280,305. The asking price is $4,999,800, resulting in a price per square foot of $515.98. The building is a fee-simple ownership and features three stories. High walkability and bikeability scores (WalkScore 89, BikeScore 97) further enhance its appeal. This is a stabilized investment with a strong tenant base.