32-Unit Apartment Building with
For Sale
$9,499,900
2465 NE ALBERTA ST, Portland, OR 97211
New construction includes studio through two-bedroom homes, elevator access, and an outdoor common area.
Property Size22,241 SF
Days on Market438
Property Features for 2465 NE ALBERTA ST
General Information
Standard status
Active
Size
22,241 SF
Elevators
Yes
Property subtype
MULTI_FAMILY
Additional Details
Multifamily Units
32
Taxes and HOA fees
Annual Taxes
$13,369
Amenities
outdoor common area
Building Details
Building Size
22,241 SF
Year Built
2025
Buildings
1
Listing Agency:
Keller Williams Realty Portland Premiere
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Source:
Currangrouprealtors
Added: Aug 5, 2025
Changed: Oct 14
Last Checked: Oct 15 at 7:21AM
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 Keller Williams Realty Portland Premiere
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Investment Insights
Based on property information with market context.
Completed in 2025, this CM2-zoned apartment building contains 32 residential units along with 2 retail spaces. The unit mix spans studios through two-bedroom layouts, with contemporary interiors and a modern exterior. Elevator service and an outdoor common area add shared amenities for residents and visitors.
The property is located at 2465 NE Alberta St in Portland’s Alberta Arts neighborhood, near Pine State Biscuits, Gumba, Great Notion, art galleries, shops, and restaurants. The surrounding district is described as walkable and bike-friendly, with access to local cultural and dining destinations. The combination of apartments and retail creates a mixed-use configuration within an established neighborhood setting.
The property is located at 2465 NE Alberta St in Portland’s Alberta Arts neighborhood, near Pine State Biscuits, Gumba, Great Notion, art galleries, shops, and restaurants. The surrounding district is described as walkable and bike-friendly, with access to local cultural and dining destinations. The combination of apartments and retail creates a mixed-use configuration within an established neighborhood setting.
Key Highlights
- 32‑unit apartment building completed in 2025
- 2 retail spaces included within the property
- Unit mix ranges from studios to two‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$285,574
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,711,480
$5.7M
Cap Rate 7%
$4,079,629
$4.1M
Cap Rate 9%
$3,173,044
$3.2M
Market Conditions
NOI Build-Up for 22,241 SF
Gross rent
$547.1K $24.60/SF
− Vacancy
−$27.9K −$1.25/SF
EGI
$519.2K $23.35/SF
− OpEx
−$233.7K −$10.51/SF
NOI
$285.6K $12.84/SF
Area
Portland, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,711,480
Cap Rate 7%
$4,079,629
Cap Rate 9%
$3,173,044
Alternative Uses
Best Use
Apartment 5plus
$4.08M
$3.57M – $4.76M
NOI $285,574 @ 7.0% cap · market cap 3.01%
Second Best
Retail
$3.70M
$3.24M – $4.32M
NOI $259,219 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$6.25M
$5.47M – $7.29M
NOI $437,208 @ 7.0% cap · market cap 4.60%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
32
Residential units
Location Intelligence
Trade Area within ½ mile
641
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - New construction includes studio through two-bedroom homes, elevator access, and an outdoor common area.
Where is this apartment building located?
The property is located at 2465 NE ALBERTA ST Portland, OR.
What is the asking price?
The asking price for this property is $9,499,900.
What are key features of this property?
This property features: 32‑unit apartment building completed in 2025; 2 retail spaces included within the property; Unit mix ranges from studios to two‑bedroom apartments
