1524 NE Hancock is a 5-unit apartment building located in Portland’s highly desirable Irvington neighborhood, one of Northeast Portland’s most established and consistently sought after residential areas.

The property offers stable in place income with additional upside through gradual rent growth and operational improvements, creating a compelling value add opportunity for investors seeking attainable scale and straightforward management.

Situated on a quiet tree lined street, the building benefits from Irvington’s strong neighborhood character while remaining close to Broadway, the Lloyd District, and nearby retail, dining, and transit corridors that support consistent tenant demand.

The property ultimately traded at a 4.5% cap rate, reflecting continued investor demand for well located small apartment assets in Northeast Portland.

SMI Real Estate, Matt Mill Broker Licensed in the State of Washington and Oregon and Jude Soldati Licensed in the State of Oregon represented the buyer and the seller in this transaction.