Property Description

New construction detached cottage portfolio near St. Johns offering four detached homes in one North Portland location with a projected 5.09% cap rate at stabilization. The offering includes 6605 N Seneca St, 9411 N Macrum Ave, 9415 N Macrum Ave, and 9421 N Macrum Ave, totaling 4,868 square feet with 12 bedrooms, 8 full bathrooms, and 4 half bathrooms across the four homes. Each residence offers 3 bedrooms and 2.1 bathrooms, with living, dining, kitchen, and half bath on the main level, plus all bedrooms, 2 full bathrooms, and laundry upstairs. The two larger homes offer 1,253 square feet each, while the two interior homes offer 1,181 square feet each. 6605 N Seneca St includes the premium yard space in the community, while 9421 N Macrum Ave offers an end position with patio space. Whole home ducted heat pump systems provide efficient year round heating and cooling, while whole house ventilation and one year builder warranties add to the new construction package. This offering gives investors four detached rental homes with separate addresses, efficient footprints, individual outdoor areas, and broad tenant appeal. Near downtown St. Johns, Cathedral Park, Pier Park, New Seasons Market University Park, local coffee, food carts, restaurants, transit, bike routes, Lombard access, and connections toward University Park, Kenton, and downtown Portland, the location supports everyday convenience and long term rental demand. Projected cap rate, rental assumptions, and expenses are approximated and should be independently verified.