NV_Property for Sale
NV_Property for Sale
1261 NW Overton St, Portland, OR, 97209, US

NV

Asset Description

JLL Capital Markets is pleased to present NV (the “Property”), a 284-unit, luxury high-rise community located in the esteemed North Pearl District. Located one-block away from the acclaimed Fields Park, residents benefit from direct access to an abundance of recreational and lifestyle amenities, which have made the surrounding area Portland’s most coveted urban neighborhood. Situated on a full-city block, NV consists of a 26-story high-rise with an expansive one-story base, creating a grand entrance and lobby, and providing 4,516 square feet of indoor amenity space and 7,000 square feet of outdoor amenity space on the third-floor amenity deck. As the tallest apartment tower in Northwest Portland, NV offers residents sweeping 360-degree views, further enhanced by the 45-degree rotation of the tower on the block, providing residents with panoramic sights of the Willamette River, Mt. Hood, and Downtown Portland skyline. NV offers an unmatched living experience in the submarket, offering luxury unit finishes and an array of community amenity spaces that elevate the live-work-play experience.


The offering of NV presents a rare opportunity to acquire a luxury high-rise in the highly sought-after North Pearl District at a significant discount to replacement cost. The Property is well-positioned to benefit from improving multi-housing supply and demand fundamentals, as activity returns to Downtown Portland and new housing supply has come to a complete halt.

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Attributes

Number of units
284
Year built
2016
Building area net
20,630 m²
Land area net
0.37 ha
Parking spaces
220
Occupancy
92.25%

Media

Investment Highlights

  • Ultra-luxurious interior finishes with panoramic city views
  • Expansive community amenities conducive to the live-work-play experience
  • Amenity-rich location in the heart of the North Pearl District
  • Low supply submarket with no projects currently under construction
  • Steps away from Portland’s premier employment district with direct access to I-405
  • Severe reduction in multi-housing permit activity fueling future rent growth
  • Opportunity to acquire at an appealing discount to reproduction cost
NV 4_Property for Sale
NV 4_Property for Sale

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Last updated
9 Jul 2024