Apartment Portfolio with 121
For Sale
$30,875,000
2425 NE Alberta St, Portland, OR 97211
MULTI_FAMILY - Portland, OR
Property Size67,286 SF
Lot Size1.11 Acres
Price / SF$458.86
Days on Market360
Property Features for 2425 NE Alberta St
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
remarks
Bedrooms
7
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 6, Bathroom 4, Bathroom 5, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 6, Bedroom 4, Bathroom 7, Bedroom 7, Bathroom 1, Bathroom 3, Bedroom 3, Bathroom 2
View
City
Elementary school
Vernon
Middle school
Vernon
High school
Jefferson
Subdivision
_142
Standard status
Active
APN
New Construction
Size
67,286 SF
Lot size
1.11 Acres
Taxes and HOA fees
Tax Annual Amount
240282
Utilities
Cooling system
Heat Pump
Building Details
Year built
2025
Number of units
121
Roof type
Metal, Flat, Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Aug 8, 2025
Changed: Aug 2
Last Checked: Aug 2 at 11:06AM
MLS# 792913119
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This apartment portfolio includes 9 buildings and 121 units, with construction in progress and described as built between 2023 and 2025. The collection is set up to combine townhome, apartment, and retail components within a single ownership structure, with heat pump cooling listed for the properties. Roof types include metal, flat, and composition surfaces.
The portfolio is located at 2425 NE Alberta St in Portland, Oregon (97211), within Multnomah County. The properties are described as spanning several Portland neighborhoods, including the Alberta Arts District, Hollywood, and the South Waterfront.
The overall lot size is 1.11 acres, and the property size is listed as 67,286 square feet. The buildings are categorized as under construction with a listed year built of 2025.
The portfolio is located at 2425 NE Alberta St in Portland, Oregon (97211), within Multnomah County. The properties are described as spanning several Portland neighborhoods, including the Alberta Arts District, Hollywood, and the South Waterfront.
The overall lot size is 1.11 acres, and the property size is listed as 67,286 square feet. The buildings are categorized as under construction with a listed year built of 2025.
Key Highlights
- Nine‑building apartment portfolio with 121 units
- Under construction; described as built between 2023 and 2025
- Total lot size 1.11 acres
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.66M | $24.60 |
| − Vacancy | −$84.4k | −$1.25 |
| EGI | $1.57M | $23.35 |
| − OpEx | −$706.9k | −$10.51 |
| NOI | $864.0k | $12.84 |
67,286 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$12.34M
$10.80M – $14.40M
NOI $863,950 @ 7.0% cap · market cap 2.80%
Second Best
Retail
$11.20M
$9.80M – $13.07M
NOI $784,218 @ 7.0% cap · market cap 2.54%
Theoretical Best
Office A
$18.90M
$16.53M – $22.04M
NOI $1,322,690 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
121
Residential units
Location Intelligence
Trade Area within ½ mile
1,071
Businesses Nearby
Explore this area
Business Placement
Demographics for 97211, OR
33,762
Population
15,106
Households
2.2
Avg Household Size
38
Median Age
56%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,755
Density / Sq Mi
$109,604
Median Household Income
$59,171
Median Earnings
$1,818
Median Rent
$616,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Nine-building apartment portfolio with 121 units, under construction, with heat pump cooling and multiple roof types.
Where is this apartment building located?
The property is located at 2425 NE Alberta St Portland, OR.
What is the asking price?
The asking price for this property is $30,875,000.
What are key features of this property?
This property features: Nine‑building apartment portfolio with 121 units; Under construction; described as built between 2023 and 2025; Total lot size 1.11 acres
