LISTING DETAILS

Alcove Hollywood

1521 NE 41st Ave Portland OR 97232

Listing #: 713646 | Status: Available | Last Modified: 6/9/2026

Showing Instructions
Call Listing Agent	No
Use Discretion	No

Investment Information
Investment Prop	Yes
Gross Income	626,200
Vacancy Factor %	4.00%
Operating Expenses	213,413
Net Operating Income	387,739
CAP Rate	6.88 %

Detail Listing Information
Min Total SF	0 SF
Max Total SF	0 SF
Lease Rate Low	$ 0.00
Lease Rate High	$ 0.00

Retail Information
Signage	Signage on Building and Freestanding

Financial Summary
CAP Rate	6.880

Building Information
Building Status	Existing
# of Buildings	1
# of Floors	4
# of Units	54
Total Building SF	13,520 SF
Net Rentable Area	0 SF
Total Office SF	0 SF
Largest Contiguous SF	0 SF
Lot SF	4,792 SF
Acres	0.11
Year Built	2015
Construction Type	Framed

Property Type
Property Type	Multi-Family
Building Class	B

Location
County	Multnomah
Market Area	Not Assigned
Tax ID #	R251873
Zoning	CM3

Parking Information
#Covered Spaces	0
# Uncovered Spaces	0
Total Parking Spots	0

Alcove Hollywood

Public Comments

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.

Alcove Hollywood
1521 NE 41st Ave Portland OR 97232

Listing #: 713646 | Status: Available | Listing Date: 6/2/2026 | Last Modified: 6/9/2026 | Email Listing

For Sale

Alcove Hollywood

Listing Images