Property Description

512-9524 N Oswego Avenue presents the opportunity to acquire a nine-unit apartment and duplex asset in Portland's St. Johns neighborhood, a distinct North Portland submarket recognized for low vacancy, strong resident retention, and durable workforce housing demand.The property consists of a seven-unit apartment building and a duplex on a single tax lot. The unit mix is predominantly 2 Bed / 1 Bath units, which account for eight of the nine total units, with one additional 1 Bed / 1 Bath unit. The asset also features off-street parking for each unit, supporting tenant convenience and long-term retention.From a physical standpoint, all plumbing in the seven-unit building has been replaced with PEX, reducing deferred maintenance exposure at acquisition. The property offers a strong in-place yield with clear operational upside and a straightforward path to income growth. Utility reimbursements have already been partially implemented, establishing proof of concept for a full rollout across the asset. In-place rents also remain below market comparables, creating additional room for organic rent growth over time.St. Johns occupies a peninsula at the convergence of the Willamette and Columbia Rivers, a geography that reinforces the neighborhood's self-contained character and tight rental dynamics. The property is located at the corner of N Fessenden Street and N Oswego Avenue, one block from the N Lombard Street corridor, with access to downtown Portland approximately nine miles south.