4620 Maryland Ave Portland, OR 97217

This exceptional 24-unit apartment building, known as The Savona, presents a compelling investment opportunity in Portland, Oregon. Built in 2018, this Class C multifamily property boasts 10,596 square feet and is situated at 4620 N Maryland Ave, Portland, OR 97217, in Multnomah County. The property features 24 one-bedroom units, each equipped with large windows, convertible living spaces, full-size washer/dryers, and recessed lighting. The asking price is $4,550,000, translating to $189,583 per unit and $437.92 per square foot. The property enjoys a current cap rate of 5.12% with a pro-forma cap rate of 5.73%, indicating strong potential for return on investment. Its prime location offers residents convenient access to numerous amenities, including the Mississippi Dining and Shopping District (0.4 miles), Adidas World Headquarters (1 mile), and the Portland Farmer's Market at PSU (2.7 miles). Furthermore, residents benefit from proximity to the Willamette River, offering river views and access. The property's location also provides easy access to Downtown Portland (4 miles) and the Portland International Airport (PDX) (13.4 miles). This stabilized, newer construction apartment building represents a rare opportunity to acquire a well-maintained asset in a thriving Portland neighborhood.