1521 NE 41st Ave
Portland OR 97232
Alcove Hollywood
1521 NE 41st Ave Portland OR 97232
Listing #: 713646 | Status: Available | Last Modified: 6/9/2026 |
For Sale
- Phone:(503) 721-2719
- Email:clay.newton@kidder.com
- Office Name:Kidder Mathews
- Office Phone:(208) 362-8600
- Office Website:
- Agent Phone:(425) 681-7695
- Agent Email:winslow.lee@kidder.com
- Agent Phone:(206) 665-3272
- Agent Email:jd.fuller@kidder.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 6,000,000.0
- $/SF$ 443.8
- $/Unit$ 6,000,000.0
- Listing StatusAvailable
- Days on Market8
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income626,200
- Vacancy Factor %4.00%
- Operating Expenses213,413
- Net Operating Income387,739
- CAP Rate 6.88 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 6.88 %
- Building StatusExisting
- # of Buildings1
- # of Floors4
- # of Units54
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF13520
- Net Rentable Area0
- Total Office SF
- Largest Contiguous SF
- Lot SF4792
- Acres0.11
- Property TypeMulti-Family
- Office Type
- Building ClassB
- CountyMultnomah
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaNot Assigned
- Tax ID #R251873
- Additional Parcels
- ZoningCM3
- # Covered Spaces0
- # Uncovered Spaces0
- Total Parking Spots0
- Parking Ratio
- Year Built2015
- Year Renovated
- Completion Date
- Roof Type
- Construction TypeFramed
Alcove Hollywood
Alcove Hollywood offers investors the opportunity to acquire a stabilized, modern 54-unit micro-studio apartment community in the heart of Portland’s highly walkable Hollywood District. Built in 2016, the property features efficient studio layouts, premium finishes, quartz countertops, vaulted ceilings, secure controlled access, community kitchens, bike storage, and multiple laundry facilities. The asset is currently stabilized at approximately 95% occupancy and benefits from a 2026–2027 property tax abatement on real property improvements through the Portland Housing Bureau’s Non-Profit Low-Income Housing Limited Tax Exemption Program.
