$9,949,900
NEW CONSTRUCTION

Estimated payment $55,551/month

Total Views 120
7 Beds
10 Baths
22,241 Sq Ft
$447 Price per Sq Ft

Highlights

  • View of Trees or Woods
  • Cooling Available
  • Heat Pump System
  • Corner Lot
  • Under Construction

About This Home

Introducing a rare chance to own a newly constructed 32-unit apartment building with 2 retail spaces in one of Portland’s most vibrant and walkable neighborhoods—Alberta Arts. This premier asset blends modern design, long-term durability, and wide-ranging rental appeal, making it a turnkey opportunity for seasoned investors or those looking to grow their portfolio. The building offers a desirable unit mix, from efficient studios to spacious two-bedrooms, each thoughtfully designed with stylish, contemporary interiors. A sleek modern exterior, elevator access, and a welcoming outdoor common area enhance both tenant satisfaction and curb appeal. Located steps from local favorites like Pine State Biscuits, Gumba, Great Notion, and a wide array of art galleries, shops, and eateries, this property sits at the epicenter of culture and convenience. With a strong Walk Score and bike-friendly streets, it's perfect for tenants seeking a connected, car-free lifestyle. Don’t miss the opportunity to secure a top-tier multifamily asset in the iconic Alberta Arts District.

Listing Agent

Darryl Bodle

Keller Williams Realty Portland Premiere Brokerage Phone: 503-709-4632 License #199910100 Listed on: 08/05/2025

Keller Williams Realty Portland Premiere

Co-Listing Agent

Kelly Christian

Keller Williams Realty Portland Premiere Brokerage Phone: 503-709-4632 License #201231606

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,889

Year Built

  • Built in 2025 | Under Construction

Lot Details

  • 7,405 Sq Ft Lot
  • Lot Dimensions are 100'x80'
  • Corner Lot

Home Design

  • Flat Roof Shape
  • Metal Siding

Interior Spaces

  • 22,241 Sq Ft Home
  • 4-Story Property
  • Views of Woods

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 10 Bathrooms

Schools

  • Vernon Elementary And Middle School
  • Jefferson High School

Utilities

  • Cooling Available
  • Heat Pump System
  • Mini Split Heat Pump
  • Electric Water Heater

Listing and Financial Details

  • Assessor Parcel Number R186528

Community Details

Overview

  • 34 Units
  • Concordia Subdivision

Amenities

  • Common Area

Building Details

  • Operating Expense $186,289
  • Gross Income $739,881
  • Net Operating Income $553,593

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,889

Year Built

Built in 2025 | Under Construction

Lot Details

0

Listing Details

  • Standard Status: Active
  • MLS Status: Active
  • Property Type: MultiFamily
  • Stories: 4
  • Year Built: 2025
  • Property Condition: UnderConstruction
  • Property Attached Yn: No
  • Open House: No
  • Special Features: NewHome
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bedrooms: 7
  • Lot Size Range: SqFt7000to9999

Exterior Features

  • Exterior Description: Aluminum,MetalSiding,Other
  • Lot Size: 7,000 to 9,999 SqFt
  • View: Yes
  • Lot Features: CornerLot
  • Road Surface Type: Paved
  • Roof: Flat
  • View: TreesWoods

Garage/Parking

  • Attached Garage: No

Utilities

  • Fuel Description: Electricity
  • Hot Water: Electricity
  • Cooling: HeatPump
  • Cooling Y N: Yes
  • Heating: MiniSplit
  • Heating Yn: Yes
  • Sewer: PublicSewer
  • Water Source: PublicWater

Condo/Co-op/Association

  • Community Features: Commons

Schools

  • Elementary School: Vernon
  • High School: Jefferson
  • Middle Or Junior School: Vernon

Lot Info

  • Zoning: CM2
  • Lot Size Acres: 0.17
  • Lot Size: 100'x80'
  • Lot Size Sq Ft: 7405.0
  • Parcel #: R186528

Green Features

  • Green Certification: No

Rental Info

  • Rent Includes: None

Tax Info

  • Tax Deferral: No
  • Tax Year: 2024
  • Tax Annual Amount: 12888.64

Multi Family

  • Unit Type: UnitTypeType1, UnitTypeType10, UnitTypeType2, UnitTypeType3, UnitTypeType4, UnitTypeType5, UnitTypeType6, UnitTypeType7, UnitTypeType8, UnitTypeType9
  • Number Of Units Total: 34
  • Gross Rent Multiplier: 13.45
  • Annual Gross Income: 739881.0
  • Property Net Operating Income: 553593.0
  • Annual Operating Expense: 186289.0

Map

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/05/2025 08/05/25 For Sale $9,949,900 -- $447 / Sq Ft
Source: Regional Multiple Listing Service (RMLS)

Source: Regional Multiple Listing Service (RMLS)

MLS Number: 251497797

Regional Multiple Listing Service (RMLS)