A quarter century ago, SE Division Street had a very different look. Much of it was then lined with old bungalows, parking lots, and automotive repair centers, the empty land left over from when the plans to build the Mount Hood Freeway were foiled. New businesses were popping up here and there, one notably being Pok Pok in 2005. (The story goes that it started as a food cart in front of Andy Ricker's house that he then converted into the restaurant.)

Then came 2009, and a trio of developers from the Bay Area started building, beginning at the corner of SE 31st Avenue and Division. There, they swapped a car parts place for a mixed-use building with ground-floor retail (remember Sunshine Tavern?) and apartments above. More construction followed in the next decade, with USA Today calling it "one of the top ten up-and-coming neighborhoods in the nation" by 2014. Plus, the street got some much-needed crosswalks.

But this building on the corner of SE 44th Avenue and Division Street, built in 2006, was something of a harbinger of things to come. It was designed by Holst Architecture, one of the local firms then heralded for bringing the urbanist dream of Portland to life. Called the Meranti Lofts for the Meranti wood detailing the exterior, the building has just nine units across its four floors, with this third-floor corner spot currently up for grabs for $550,000.

If the exterior speaks to the cubic forms of the early aughts, the interior is quintessential loft living, including a spare material palette, high ceilings, and lots of natural light. Only instead of just being one cavernous space, it has 1,185 square feet over two floors, two bedrooms, and two bathrooms. There's even outdoor space via not one but two balconies, tucked off of sliding glass doors.

And while the material palette might be streamlined—wood cabinets, white walls, and metal accents are the recurring motifs here—it has nice detailing within that tightly curated selection. Think: radiant heat in the concrete floors, tongue-and-groove wood ceilings, and a statement staircase with steel railings and maple tread that artfully connects the two floors.

The main floor has one bedroom, a powder room, the kitchen, and the dining room, making for a nice flow for dinner party guests. Upstairs, the primary suite is paired with the living room, which offers views of Mount Hood on clear days, and enough space for an extra-long desk to work from home. There are plenty of closets up here (another scarcity in loft floor plans), complete with washer and dryer, as well as a spacious, light-filled bathroom, and the second balcony off the bedroom.

While Pok Pok has since closed (it's now home to OK Chicken and Khao Soi), there's no shortage of eat and drink to be found all along Division, whether from newcomers like Vya, or stalwarts still going strong, like the Reel M Inn Tavern. 

Listing Fast Facts

• Address: 2373 SE 44th Ave #302, Portland, OR 97215
• Size: 1,185 square feet/2 bedrooms/2 bath
• List Date: 3/6/2026  
• List Price: $550,000  
• Listing Agent: Marisa Swenson, Modern Homes Collective

Melissa Dalton is a freelance writer who has focused on Pacific Northwest design and lifestyle since 2008. Contact Dalton here. 

Editor’s Note: Portland Monthly’s “Property Watch” column takes a weekly look at an interesting home in Portland’s real estate market (with periodic ventures to the burbs and points beyond, for good measure). Got a home you think would work for this column? Get in touch at [email protected].