The Kennedy 2171 N Rosa Parks Way 27 Unit Apartment Building $7,808,584 CAD ($289,207 CAD/Unit) 4.81% Cap Rate Portland, OR 97217

» Brand-New, Stabilized Asset in the Heart of North Portland
The Kennedy Apartments is a 2024-construction, 27-unit multifamily community offering
investors a rare opportunity to acquire a stabilized, newly built asset with minimal near-term
capital requirements. At 96.3% occupancy, the property delivers strong, reliable
cash flow from day one with a modern unit package that attracts and retains quality
renters in North Portland’s competitive multifamily market.
» Institutional-Quality Unit Finishes in a Boutique Community
Each of the Kennedy’s one- and two-bedroom homes features an upscale interior
package including stainless steel appliances, quartz and granite countertops, wood-style
flooring, in-unit washer/dryer, and private balconies or patios. Controlled-access
entry and elevator service round out a finish level typically associated with larger
institutional properties, delivered here in an intimate 27-unit setting.
» Compelling Community Amenities for Today’s Renter
Residents enjoy a thoughtfully designed outdoor courtyard with BBQ grills, a pet-friendly
environment, and professional on-site management with an online resident
portal. The property’s combination of lifestyle amenities and modern conveniences
positions it to attract and retain quality renters in a competitive North Portland market.
» Exceptional Transit Connectivity and Highway Access
The Kennedy benefits from immediate access to I-5 and is located within close
proximity to the Rosa Parks MAX Yellow Line station, providing direct light rail service
to downtown Portland in approximately 20 minutes with trains running every 15 minutes
or better throughout the day. This combination of freeway and transit access connects
residents to employment centers across the Portland metro and Southwest Washington,
making the property an ideal home base for commuters.
» Walkable Neighborhood with Strong Retail Amenities
The Kennedy is situated in the Arbor Lodge neighborhood of North Portland, with five
shopping centers within 1.5 miles including a Fred Meyer and a New Seasons Market.
Residents enjoy easy access to the neighborhood’s dining, coffee shops, and parks
including Arbor Lodge Park, Peninsula Park, and Columbia Park creating a live-workplay
environment that supports tenant retention.
» Proximity to Major Employment Anchors
The property’s location provides convenient access to some of the region’s largest
employers. Legacy Emanuel Medical Center a Level I Trauma Center and major North
Portland employment hub with over 1,500 healthcare professionals is approximately 2.9
miles away. The broader Portland metro employment base, including Providence Health
& Services, OHSU, and Nike, is readily accessible via I-5 and the MAX Yellow Line.