Modern 54-Unit Apartment
For Sale
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1521 NE 41st Ave, Portland, OR 97232
Completed in 2016, this 54-unit community features efficiency-oriented layouts and premium interior finishes.
Property Size9,080 SF
Price / SF$660.79
Days on Market154
Property Features for 1521 NE 41st Ave
General Information
Standard status
Active
Size
9,080 SF
Class
B
Property subtype
Multifamily
Zoning
CM2
Occupancy
95%
Investment Type
Stabilized
Net Operating Income
$412,787
Site & Location
Neighborhood
Hollywood
Additional Details
Multifamily Units
54
Building Details
Year Built
2016
Buildings
1
Units
54
Tenancy
Multi
Listing Agency:
Kidder Mathews Portland
Listed By:
Jordan Carter · License #OR 200606025
(503) 221-2280
Source:
Crexi
Added: Jun 2
Changed: Oct 26
Last Checked: Nov 1 at 2:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kidder Mathews Portland
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Investment Insights
Based on property information with market context.
Completed in 2016, Alcove Hollywood is a 54-unit apartment community designed for efficient, “micro-living” style living. The property includes premium interior finishes such as quartz countertops and vaulted ceilings, with the overall layout focused on maximizing utility and natural light.
The property has been described as entering at a favorable basis and as remaining exempt from Oregon’s statewide rent control (SB 608) for several more years. In addition, it has secured a full property tax abatement for the 2026–2027 tax year on all real property improvements through the Portland Housing Bureau’s Non-Profit Low-Income Housing Limited Tax Exemption Program.
As presented in the offering, the asset is positioned as stabilized and modern, combining updated construction with tax-saving and legislative advantages that may support near-term operational performance.
The property has been described as entering at a favorable basis and as remaining exempt from Oregon’s statewide rent control (SB 608) for several more years. In addition, it has secured a full property tax abatement for the 2026–2027 tax year on all real property improvements through the Portland Housing Bureau’s Non-Profit Low-Income Housing Limited Tax Exemption Program.
As presented in the offering, the asset is positioned as stabilized and modern, combining updated construction with tax-saving and legislative advantages that may support near-term operational performance.
Key Highlights
- Completed in 2016: 54‑unit residential community with efficiency‑oriented layouts
- Premium interior finishes including quartz countertops and vaulted ceilings
- Property is exempt from Oregon statewide rent control (SB 608) for several more years
Property Analytics
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Lease Details
54
Residential units
Location Intelligence
Trade Area within ½ mile
3,321
Businesses Nearby
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Business Placement
Demographics for 97232, OR
15,382
Population
9,594
Households
1.6
Avg Household Size
37
Median Age
65%
College-Educated
96%
High-School Grad
1.9 sq mi
ZIP Area
8,096
Density / Sq Mi
$71,278
Median Household Income
$49,794
Median Earnings
$1,584
Median Rent
$801,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Completed in 2016, this 54-unit community features efficiency-oriented layouts and premium interior finishes.
Where is this apartment building located?
The property is located at 1521 NE 41st Ave Portland, OR.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Completed in 2016: 54‑unit residential community with efficiency‑oriented layouts; Premium interior finishes including quartz countertops and vaulted ceilings; Property is exempt from Oregon statewide rent control (SB 608) for several more years
