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Why Invest in Alameda, Portland Real Estate

Living in a city like Portland opens up a multitude of possibilities, the most notable being easy access to high quality jobs, a mix of small/local businesses and international corporations, top-quality shopping and dining, and an overall enjoyable, neighborly, and convenient lifestyle. It’s worth noting, however, that living daily amid the noise and bustle of a fast paced city just isn’t for everyone. But that’s what is so fantastic about Portland. There is a plethora of areas where you’re able to strike a balance between access to urban conveniences and a tranquil lifestyle.

Say hello to Alameda, a historic residential area that has become one of the best neighborhoods to live in Oregon.

Continue reading as we lay out everything there is to know about Alameda-including why you should invest in this sought-after Portland neighborhood.

Alameda: An Overview

Noted for its welcoming atmosphere and a strong sense of community, Alameda is a historic neighborhood in northeast Portland that dates back to 1909.

Alameda-named after the Spanish word for a tree-lined promenade-was founded on a former farm site owned by the Bowering family. Marketed as an exclusive residential enclave, the town became extremely popular among families looking for well-built, spacious homes in a quiet neighborhood. In addition, because the neighborhood sits on a high plateau, residents get breathtaking views of Downtown Portland from their homes.

Alameda experienced a growth spurt in the 1920s as the neighborhood attracted business moguls as residents. The influx of affluent residents led to the construction of many beautiful and stately homes in the area, most of which still stand today.

At present, around 5,000 residents call Alameda home, enjoying the neighborhood’s plethora of stellar amenities and gorgeous properties, as well as overall high quality of life.

Alameda: What you Should Know

The location

One of the things that make Alameda incredibly attractive is its location,just 10 minutes away from Portland’s Downtown area. Alameda is also surrounded by other appealing neighborhoods such as Beaumont-Wilshire, Concordia, Sabin, Irvington, and Grant Park,expanding the number of amenities and attractions that residents can enjoy.

The economy

Historically, Alameda has always been considered to be an affluent neighborhood. The majority of its earliest residents belonged to elite Portland families. Today, the community has remained upscale, with a median household income of $182,051-much higher than the national average of $64,994 (as of 2020) and Portland’s $73,159.

The school system

Families with school-age children will be delighted to learn that Alameda has several top-rated schools within its vicinity, the most notable being Alameda Elementary School. Founded in 1911, Alameda Elementary School serves students from Kindergarten to 5th Grade and currently ranks fifth on the list of Best Elementary Schools in the Portland Public Schools District. Other top schools in Alameda include Grant High School, Le Monde French Immersion Public Charter School, and Emerson School.

What is life like in Alameda?

Cheerful woman selecting fresh vegetable

A tranquil urban oasis, Alameda is especially valued for the peace and quiet it offers to residents-a major benefit given its location in the middle of a bustling metropolitan area.

One thing prospective homebuyers should keep in mind is that Alameda is zoned almost exclusively for residential use, which limits the number of shops and restaurants within the neighborhood. The good news: there is a bustling local economy with darling mom and pop shops, local restaurants, and coffee shops. Plus, Downtown and all of its offerings are just a quick 10 minute drive away.

Here are some of the things that Alameda’s residents can do:

  • Go on a food crawl

  • Portland takes great pleasure in its vibrant culinary scene, which includes a wide variety of top-rated eateries, from high end restaurants to food trucks. In and around Alameda are some of the best dining destinations in the city, including:
    • Fire On The Mountain Conveniently located near Alameda at NE Fremont Street, Fire on The Mountain is considered to be Portland’s best place for tasty chicken wings, burgers, and pizza. Locally owned and operated since its founding in 2005, Fire on the Mountain also takes pride in its home-brewed beers and ales, which pair nicely with the restaurant’s selection of classic, All-American comfort food.

    • NoHo’s Hawaiian Cafe The exotic flavors of authentic Hawaiian cuisine are a short drive away at NoHo’s on NE Fremont Street. A major player in the Portland food scene for the last 25 years, NoHo’s is famous for serving traditional Hawaiian favorites like kalua pork, poke bowls, and coconut shrimp.

    • Lucca Craving authentic Italian food? You’re in luck, because Lucca is a true Alameda highlight. One of Portland’s most vibrant restaurants, Lucca’s menu includes an extensive selection of traditional Italian dishes including wood-fired pizzas and house-made pasta.

    If you’re looking to expand your dining choices, head over to Downtown Portland, which counts the following among its must-visit dining destinations:

    • MÅURICE – One of Portland’s most popular dining spots, MÅURICE is dedicated to showcasing the best of Norwegian and French cuisine while giving it a modern twist. In addition to being inventive and unique, MÅURICE’s menu also changes with the seasons, which ensures that only the freshest ingredients make it to their diners’ plates.

    • Toki Restaurant – A new addition to Portland’s food scene, Toki is a contemporary, Korean-American restaurant that marries the best of both cuisines. Managed by the same team that handles Han Oak, Toki serves classic Korean fare like bao bun burgers, bibimbap, bulgogi, dumplings, gimbap, Korean fried chicken, and hand-pulled noodles, all of which are given a decidedly American spin.

  • Shop ’til you drop

  • Aside from being a foodie paradise, NE Fremont Street is also a terrific spot for residents looking to indulge in some retail therapy. NE Fremont Street boasts a wide array of shopping options, ranging from charming mom-and-pop stores to independent retailers and vintage boutiques. Ready to go shopping? Here are some of the destinations you should visit:
    • Found On Fremont – A charming two-story gift shop, Found On Fremont specializes in antique goods ranging from furniture and household items to vintage clothing. Found On Fremont has well over 20 vendors, which means shoppers are sure to find top-quality pieces for every style and price point.

    • Adorn – One of Portland’s largest home-grown boutiques, Adorn now operates in four locations throughout the city, including a brick-and-mortar store in NE Fremont near Alameda. Founded in 2008, Adorn is famous for stocking both men’s and women’s clothing from brands that celebrate body positivity and inclusivity.

    For an even more dynamic shopping experience, Alameda residents can simply head to Downtown Portland, a thriving and vibrant area considered to be a terrific spot for residents looking to indulge in some retail therapy.
    • Pioneer Place – Located in Downtown Portland, Pioneer Place is home to designer stores like Louis Vuitton, Yves Saint Laurent, and Tory Burch, not to mention big-name brands like J. Crew, H&M, and Apple. Spanning 356,154 square feet, Pioneer Place also boasts an impressive selection of dining establishments, as well as a top-of-the-line movie theater.

    • Union Way Shopping Arcade – A relatively new addition to the Portland retail scene, Union Way Shopping Arcade takes inspiration from Middle Eastern bazaars, French alleyways, and Scandinavian architecture to deliver a unique shopping experience to visitors and locals alike. Union Way Shopping Arcade is currently home to many of Portland’s homegrown brands such as Danner and Self Edge.

    • Portland Saturday Market – The largest continuously running arts and crafts fair in the country, Portland Saturday Market is a good place to find unique, hand-crafted goods and artisanal food products from more than 250 sellers. Opened to the public in 1974, the Portland Saturday Market offers more than just an open-air shopping experience. It also hosts live music performances, as well as exhibits for local artists.

  • Go on an outdoor adventure

  • Planning to live a more active and healthy lifestyle? You’re in luck because Alameda makes it easy for its residents to access Portland’s parks and outdoor spaces. Here are some of them:
    • The Alameda Ridge – A popular outdoor destination, the Alameda Ridge dates back to the city’s early days and is famous for its numerous public stairways. Now an urban loop maintained by the City of Portland, the Alameda Ridge rises 250 feet above the city, giving its visitors a magnificent view of the downtown skyline.

    • Tryon Creek State Natural Area – Located 15 minutes away from downtown Portland, the Tryon Creek State Natural Area is another popular spot for hikers. The park covers a total of 658 acres and has 8 miles of hiking trails, 3.5 miles of packed gravel trails for equestrians, and 3 miles of paved bicycle paths.

    • Forest Park – One of the largest urban green spaces in the United States, Forest Park connects Portland’s residents to more than 5,200 acres of untouched forest land. Forest Park’s features include an extensive trail network, 25 miles of which are accessible to bikes and horses.

  • Visit cultural landmarks

    Portland has an abundance of cultural landmarks, all of which offer Alameda residents a chance to connect with culture, history, and the arts. These include the following:
    • Portland Art Museum
      The oldest museum of its kind in the Pacific Northwest, the Portland Art Museum was founded in 1892 as a way to bring art closer to Portland’s citizens. Today, the museum is famous for its extensive collection of 20th-century modern and contemporary artworks and for holding exhibits centered on Asian and Native American art.

    • Movie Madness
      Are you a big fan of movies? If so, head over to Movie Madness, a video rental store-turned-film museum on Belmont Street. Founded in 1991, Movie Madness has over 80,000 movies in a variety of formats in its collection-one of the largest in the entire world. Now managed by The Hollywood Theatre, Movie Madness is also home to 100 props from iconic movies, including the infamous shower scene knife from Psycho and Julie Andrews’ dress from The Sound of Music, making it a must-visit site for any cinephile and pop culture aficionado.

    • Oregon Museum of Science and Industry
      Founded in 1944, the Oregon Museum of Science and Industry is an important scientific landmark in Portland, Oregon. Located on the site of a former power plant, the museum boasts an impressive selection of features, including three auditoriums, a large-screen theatre, a planetarium, and exhibition halls. Aside from its permanent exhibits, the museum also regularly hosts traveling exhibitions, such as James Cameron – Challenging The Deep and Marvel: Universe of Super Heroes.

What is the Alameda Real Estate Market Like?

Close-up of a couple receiving new hose keys

Alameda has a competitive housing market, with the median listing price for single-family homes in the neighborhood set at $835,000 as of this writing. Currently, residential Alameda real estate properties have a sale-to-list price ratio of around 100% and spend an average of 53 days on the market.

As a historic neighborhood, Alameda is brimming with gorgeous homes from the early 20th Century. These properties, built in the Craftsman, bungalow, Cape Cod, and ranch styles, have by and large been restored to their former glory, and regularly fetch handsome prices once put back on the market.

Aside from historic properties, homebuyers can also choose from newly-built single-family homes, which make up a large chunk of Alameda’s current housing stock.

Despite the inherent differences in their architectural styles, most homes in Alameda share several common features that make them attractive to prospective buyers. These include hardwood floors, airy floorplans, spacious bedrooms, large windows, built-in storage, full baths, large backyards, updated kitchens, and roomy basements and attics.

In addition, because most properties in the area sit on large lots, buyers have the option of building Accessory Dwelling Units (ADUs), which can help further increase their potential living area and property values.

Why Should You Invest in Alameda?

Investing in Alameda, Portland real estate properties comes with an impressive array of important perks and benefits. Here are some of them:
  • Alameda is a great place to live in
    Alameda real estate properties are some of the most highly-sought after in the country and in Portland today, with good reason. The neighborhood offers easy access to wonderful amenities and attractions, all of which make for a high quality of life. These include a top-performing school system, an impressive selection of locally-owned restaurants and independently-owned shops. Not only that, but Alameda is also located near Portland’s downtown area effectively doubling the number of amenities residents can enjoy.

  • Alameda is located in an important economic region
    The Portland Metropolitan Area is a major player in the American economy, with the region serving as home to thousands of technology, design, and manufacturing companies. Given the high density of companies within its borders, the Portland Metropolitan Area enjoys a healthy economy-one of the key factors that helped the area rapidly bounce back from the ill effects of the COVID-19 pandemic. These positive developments in the local economy make Portland-and by extension, Alameda-a great place to invest in, especially for business owners.

  • Buying real estate properties can help protect you from inflation
    Investing in residential real estate properties, especially in neighborhoods like Alameda, is a fantastic way to protect yourself from any downturns in the economy. Real estate generally increases in value over time, allowing you to turn a profit if and when you decide to put your home back on the market. In addition, these properties can be rented out, opening another potentially lucrative income stream for investors.

Invest in Alameda, Portland Real Estate with Ross Seligman and Team Own It Portland

If you are looking to invest in premium Alameda real estate, please feel free to give me and my team a call. At Team Own It Portland, we’re here to help you whether you are buying or selling. We will create a custom-tailored plan that meets you where you’re at and strategize to get you the best deal possible.

My name is Ross Seligman and I am a full-time REALTOR® at Living Room Realty. I’ve closed hundreds of sales in Alameda and other locales within the Portland Metro Area. Over the years, I’m pleased to say I have carved out a reputation for providing outstanding, top-level service to my clients, buyers and sellers alike.

I channel my passion for real estate into helping my clients achieve their real estate goals with integrity, professionalism, and extensive market knowledge.

Are you ready to invest in an Alameda home of your own? Just give us at Own It Portland a call at 503.862.9075, or send me an email here to schedule a meeting.