Although Alvalade is close to the Cidade Universitária, there aren't that many students around. The neighbourhood is mostly middle-aged and middle-classed locals, always very well dressed.
The greenness of the neighbourhood. All its roads (from backstreets to main avenues) are lined with trees making it one of the pleasantest quarters of Lisbon.
Campo Grande gardens begin exactly where the neighbourhood finishes. It's a nice park - and you'll find the Cidade Universitária just on the other side of it.
The slow lifestyle. Locals in Alvalade really enjoy taking a seat in their favourite local café's outdoor sitting area and taking it nice and slow all day.