Introducing a rare chance to own a newly constructed 32-unit apartment building with 2 retail spaces in one of Portland's most vibrant and walkable neighborhoods-Alberta Arts. This premier asset blends modern design, long-term durability, and wide-ranging rental appeal, making it a turnkey opportunity for seasoned investors or those looking to grow their portfolio. The building offers a desirable unit mix, from efficient studios to spacious two-bedrooms, each thoughtfully designed with stylish, contemporary interiors. A sleek modern exterior, elevator access, and a welcoming outdoor common area enhance both tenant satisfaction and curb appeal. Located steps from local favorites like Pine State Biscuits, Gumba, Great Notion, and a wide array of art galleries, shops, and eateries, this property sits at the epicenter of culture and convenience. With a strong Walk Score and bike-friendly streets, it's perfect for tenants seeking a connected, car-free lifestyle. Don't miss the opportunity to secure a top-tier multifamily asset in the iconic Alberta Arts District.
Property Features
Bedrooms
Heating and Cooling
- Cooling Features: HeatPump
- Heating Features: MiniSplit
Bathrooms
Land Info
- Lot Description: CornerLot
- Lot Size Acres: 0.17
- Lot Size Dimensions: 100'x80'
- Lot Size Square Feet: 7405
Exterior and Lot Features
Home Features
School Information
- Elementary School: Vernon
- High School: Jefferson
- Middle School: Vernon
Rental Info
Multi-Unit Info
- Number of Units: 34
- Bedrooms in Unit-1: 0
- Bedrooms in Unit-2: 0
- Bedrooms in Unit-3: 2
- Bedrooms in Unit-4: 2
- Bedrooms in Unit-5: 1
- Bedrooms in Unit-6: 1
- Bedrooms in Unit-7: 1
- Bedrooms in Unit-8: 0
- Bedrooms in Unit-9: 0
- Bedrooms in Unit-10: 0
- Total Bathrooms in Unit-1: 1
- Total Bathrooms in Unit-2: 1
- Total Bathrooms in Unit-3: 1
- Total Bathrooms in Unit-4: 1
- Total Bathrooms in Unit-5: 1
- Total Bathrooms in Unit-6: 1
- Total Bathrooms in Unit-7: 1
- Total Bathrooms in Unit-8: 1
- Total Bathrooms in Unit-9: 1
- Total Bathrooms in Unit-10: 1
- Full Bathrooms in Unit-1: 1
- Full Bathrooms in Unit-2: 1
- Full Bathrooms in Unit-3: 1
- Full Bathrooms in Unit-4: 1
- Full Bathrooms in Unit-5: 1
- Full Bathrooms in Unit-6: 1
- Full Bathrooms in Unit-7: 1
- Full Bathrooms in Unit-8: 1
- Full Bathrooms in Unit-9: 1
- Full Bathrooms in Unit-10: 1
- Unit-3 Description: AirConditioning,Dishwasher,Range
- Unit-4 Description: AirConditioning,Dishwasher,Range
- Unit-5 Description: AirConditioning,Dishwasher,Range
- Unit-6 Description: AirConditioning,Dishwasher,Range
- Unit-7 Description: AirConditioning,Dishwasher,Range
- Unit-8 Description: AirConditioning,Dishwasher,Range
- Unit-9 Description: AirConditioning,Dishwasher,Range
- Unit-10 Description: AirConditioning,Dishwasher,Range
- Unit-1 Square Feet: 756
- Unit-2 Square Feet: 1595
- Unit-3 Square Feet: 789
- Unit-4 Square Feet: 632
- Unit-5 Square Feet: 560
- Unit-6 Square Feet: 504
- Unit-7 Square Feet: 414
- Unit-8 Square Feet: 400
- Unit-9 Square Feet: 367
- Unit-10 Square Feet: 325
- Unit 1 Total Actual Rent: 2021
- Unit 2 Total Actual Rent: 4785
- Unit 3 Total Actual Rent: 2000
- Unit 4 Total Actual Rent: 1750
- Unit 5 Total Actual Rent: 1650
- Unit 6 Total Actual Rent: 1575
- Unit 7 Total Actual Rent: 1500
- Unit 8 Total Actual Rent: 1400
- Unit 9 Total Actual Rent: 1300
- Unit 10 Total Actual Rent: 1200
Amenities and Community Features
- Community Features: Commons
Other Property Info
- Annual Tax Amount: 12889
- Source Listing Status: Active
- County: Multnomah
- Directions: Corner of NE Alberta St & NE 25th Ave
- Tax Year: 2024
- Source Property Type: MultiFamily
- Area: _142
- Source Neighborhood: CONCORDIA
- Parcel Number: R186528
- Subdivision: CONCORDIA
- Zoning: CM2
Commercial Info
- Net Operating Income: 553593
- Operating Expense: 186289
Building and Construction
- Total Square Feet Living: 22241
- Year Built: 2025
- Building Area Total: 22241
- Building Exterior Type: Aluminum, MetalSiding
- New Construction: Yes
- Property Condition: UnderConstruction
- Roof: Flat
- Levels or Stories: 4
Utilities
- Sewer: PublicSewer
- Water Source: PublicWater
