Property • Land
Web ID # 692531303
$495,000.00
Beds • Baths
Property Features
Regional Multiple Listing Service, Inc.
Prime Infill Opportunity on Oversized Lot – 0.33 Acres! Builders and investors, take note! Rare flat as a board lot in Portland’s Powellhurst-Gilbert neighborhood, zoned for potential redevelopment (buyer to verify with the City). With 100 feet of frontage and 145' deep lot dimensions, this property is ideal for partitioning, building plexes, adding ADUs, or developing cottage cluster under Portland’s Residential Infill Project guidelines. R5 Zoning. The existing ranch home is in great shape with full basement offering rental income during planning. Basement conversion potential for a duplex or ADU. Utilities on site, level ground, and no immediate tree or slope constraints make this a straightforward development path. Keep the main house and subdivide off a flag lot and add a duplex while you convert basement to an ADU. Basement has full bath and kitchenette. Or demo the house and subdivide into 2 large lots ready for 4 plexes. Or demo and build up to 16 cottage cluster. Portland City Council voted to temporarily waive development fees to spur housing from Aug. 15 through Sept. 30, 2028 - no development fees! Rentometer.com lists a 3-bed rental at $2208 monthly, 1 month for $1248. Endless options to make this project pencil. Strategically located near transit corridors, parks, and shopping with strong rental demand in the area. Don’t miss this chance to unlock the value of one of East Portland’s most flexible properties. Buyer to do all due diligence with the City of Portland. Do not walk the property without an appointment. Developer packet available.
Powell. North on 119th Ave. On right. GPS friendly.
Dwelling Type: Land
Subdivision:
Year Built: , County: US
Powell. North on 119th Ave. On right. GPS friendly.
Virtual Tour
Listing is courtesy of Berkshire Hathaway HomeServices NW Real Estate
