Portland Plaza
- 1500 SW 5th Ave, Portland OR 97201
- Walkability Score: 99/100
- 25 Stories - Built in 1973
- Rental Policy: No rental cap + 30 day minimum lease
Portland Plaza Condos For Sale
These Portland Plaza condo listings are updated every 15 minutes with the latest information. If you see an available condo you'd like to tour, or if you'd like to discuss if Portland Plaza is the right building for you please call or text us today at 503-966-4371. And if you want an email alert the moment a new Portland Plaza condo is listed for sale please click the "Save Search" button below.
My Take on Portland Plaza
by Stuart Stevens, Portland Condo Specialist
The Portland Plaza is one of those buildings that surprises people who've written it off because of its age. It was built in 1973, which makes it one of the older high-rises in the downtown core, but that's part of its character and not a reason to pass on it. It's also one of the more unique residential towers in Portland, with its curved facade immediately recognizable to locals who affectionately call it the Norelco building. Over the past decade or so Portland Plaza has seen more than $10 million invested in systems upgrades and common area renovations, with truly impressive results. The lobby and common spaces were redesigned by Fritz Junker, one of Portland's better-known architects and interior designers, and the gym, library, and outdoor gathering spaces have all been freshened up along the way. What you get is a mid-century-ish high-rise that feels modern and well-maintained inside with a list of amenities that's hard to match in Downtown.
The Neighborhood Around Portland Plaza
Portland Plaza is on the edge of the Cultural Arts District in Downtown. Keller Auditorium is close by, and you'll find the Portland Art Museum, Schnitzer Hall and much more just a short walk away. Food carts, restaurants, coffee shops, and MAX light rail are also close by. This is true downtown living, more urban and dense than the Pearl, and with a much different energy than the South Waterfront. If you want central Portland living for a reasonable price this building should be on your short list.
About the Condos
There's a ubiquitous two- bedroom, two-bath floorplan at Portland Plaza that you can find available for sale at any given time (pictured right). It's about 1,319 square feet, and it appears throughout the building from the lower floors all the way up to the top. It's actually a really good floorplan with an efficient layout. But here's the thing - while the floorplan is the same every single one of them is different. That's because people have been removing walls, combining rooms and remodeling these units for the last 50 years. Every once in a while you might find a vintage one that's untouched since 1973 and those are amazing if that's your thing. I've seen completely renovated units and I've seen units that are essentially untouched since Gerald Ford was president. But most of them are going to have been updated sometime in the last few decades, for better or for worse. I've seen some real passion projects here that meant something to one owner who chose their individual style over any thought of resale.
Now, here's the thing. There are no balconies at Portland Plaza. You get great views through floor-to-ceiling curved glass walls, but you're not going to be able to walk outside to enjoy it. The good news is the building takes up a full city block, so there is extensive secure outdoor space for residents to enjoy together. But if a private balcony is a must have I can direct you to other buildings at this price point that have them.
In addition to that 1,319 square foot 2/2, the building also has a handful of larger and more unusual configurations. There's a 1,588-square-foot unit type with a den and a curved wall of windows that offers wide, sweeping views of the West Hills and the city. There's a three-bedroom layout at roughly 1,620 square feet that comes with two tandem parking spaces and 270-degree panoramic views when you get up high enough. Sometimes a combined unit will pop up here too, like the one on the 11th floor at 2,436 square feet with three bedrooms, two baths, a large kitchen, multiple living areas, and a dedicated office. Like I said before, just about every condo here is unique.
There are a few one-bedroom units here too but they rarely come on the market. If you're looking for one let me know and I'll set up an alert for you so that when one hits the market you'll be among the first to know.
Portland Plaza Views
If you're seeing a few of those 2/2 condos for sale but the prices are very different it's probably because of the view. The views here vary considerably depending on which floor you're on and which direction you face. The units that face east and north on the higher floors get the best combination, picking up Mount Hood, the Willamette River, KOIN tower, and the downtown skyline. From the east-facing units on the top floors you can see all of that clearly on a good day, and you can even watch fireworks over the city during celebrations like the Rose Festival. Units facing west or southwest look toward the West Hills, which isn't as dramatic but has its own appeal, and those units tend to be quieter given they're facing away from the busier streets. Some lower floor units face into the building's private landscaped grounds and the pool, which gives them a nice view. But some of the lower floors look right at a parking garage and other buildings, so when you see a 2/2 for about $300k that's probably what's going on. It can also be because of the condition of the unit, but the one thing you can't change is the location and the view so that influences price a little more. If view is a priority you're going to want to look for something on the 10th floor or higher.
Portland Plaza Amenities
This is where Portland Plaza separates itself from other downtown high-rises, and I like to give a tour of the grounds before we head up to the unit to set the tone. The private outdoor space spans the entire city block, and it includes a heated saltwater pool, four BBQ and outdoor grilling areas, an herb garden, fire pits, water features, glass pergolas, and perennial gardens. It's maintained, well-kept, and entirely private to residents. For a building in the heart of downtown, that outdoor space is an exceptional amenity and not something you can find anywhere else in this neighborhood. So while you can't sit on your own balcony, you can open a bottle of wine and head down to the gardens where you'll probably find some neighbors to share it with.
Inside, the recently renovated lobby has a 24-hour concierge and security desk. The concierge is genuinely full-service and manages access, packages, and guest check-in around the clock. The gym and fitness center have been updated and are well-equipped. There's a cool mid-century library that residents use for quiet work or reading, a meeting room, and a community room with a full kitchen that can be reserved for gatherings. Bike storage and storage lockers are available for an additional fee, and there are EV charging stations in the garage. Storage is available, but not every unit has one so it's important to factor that in when you're looking.
The HOA, Parking and Pets
The Portland Plaza is professionally managed and has an on-site manager. There's a full-time cleaning crew maintaining the common areas and a dedicated maintenance team. Special assessments have come up in recent years, and some sellers have prepaid those at closing. It's worth asking about the current reserve status and any upcoming projects when you're doing your due diligence. Keep in mind this is a 50+ year old building and maintaining it could cost a little more than newer ones.
Parking is in a secured underground garage, and most units come with at least one assigned or deeded space. The larger units often include two tandem spaces but it's not a given. Be sure to confirm the parking situation for any specific unit you're considering. The building is very pet-friendly and there is quite a bit of green space nearby, including the South Park Blocks.
Portland Plaza is one of the more investor-friendly buildings with no rental cap and a minimum lease term of 30 days. However nightly rentals are strictly forbidden.
Is this the right building for you?
The bottom line on Portland Plaza is that it's a full-service downtown building with a terrific list of amenities, 24-hour concierge, great views on the upper floors, and a flexible rental policy that keeps options open. The wide range of renovations across the building means you can pretty much find anything from a stunning modern renovation to a time capsule from 1970's. That's one of the things I love about this building... you just never know what you're going to find when you open the front door of a unit. I think if I lived here I'd want to see what all my neighbors had done with their units too.
Reach out to me at 503-858-4089 or using the form below and I'd be glad to walk you through the building and help you figure out if it's the right fit.
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