Investment Overview

The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of North Shore Apartments, a 25-unit multifamily community located at 50 Northshore Road in Lake Oswego, Oregon. Positioned directly adjacent to the shores of Lake Oswego, the property offers a truly irreplaceable setting within one of the Portland metropolitan area’s most affluent and desirable residential communities. Opportunities to acquire multifamily real estate with immediate proximity to the lake are exceptionally rare, creating a unique investment opportunity defined by location, scarcity, and long-term desirability. Constructed in 1955, North Shore Apartments features a unit mix consisting of 16 studio units, six one-bedroom units, one two-bedroom townhome, and two three-bedroom townhomes. The diverse unit mix appeals to a broad resident base, while the townhome residences provide housing options that are rarely available within the immediate area. Residents benefit from a central courtyard, common laundry facilities, 25 surface parking spaces, rented storage units, and select units with washer and dryer hookups. One of North Shore’s most compelling attributes is its exceptional walkability and connectivity. Residents enjoy immediate access to downtown Lake Oswego’s collection of restaurants, cafés, boutiques, neighborhood retailers, parks, entertainment venues, and community gathering spaces. Public transportation is also readily accessible, providing convenient connections to downtown Portland and regional employment centers. Current rental rates provide approximately 10% upside potential, while a RUBS program already in place supports utility expense recovery and operational efficiency. North Shore Apartments offers a compelling combination of lake adjacency, location quality, operational stability, and long-term investment appeal.