8045 N PRINCETON ST

Portland, OR 97203

Princeton Court is a 10-unit apartment community at 8045 N Princeton St, two blocks off the St. Johns town center. Every unit is the same 810 SF two-bedroom, one-bath floor plan with in-unit laundry and dishwasher, and the property is 100% occupied on a mix of fixed-term and month-to-month leases. Tenants reimburse water, sewer, and trash, and the building carries an unusually low-maintenance shell: a Duro-Last flat roof with lifetime warranty, on-demand gas hot water, solar thermal panels, insulation, and energy-efficient windows.The trailing twelve months produced $133,936 of NOI, a 7.44% cap rate on the asking price with zero vacancy. The upside is already proven in-house: one unit rents at $1,858 while four sit between $1,449 and $1,500, so a buyer reaches the $1,850 market rent, 16.8% above the current average, through ordinary turnover rather than renovation risk. A non-revenue basement studio offers additional future income.

Listing courtesy of Benjamin Ficker of Rarebird Real Estate (971) 273-5547



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Last checked 2026-09-13 03:51 AM PDT.

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