Land For Sale
Property Details
Price
$7,900,000
Building Size
43,976 SF
Property Details
Multifamily
Total Lot Size
0.97 Acres
Year Built
1920
Description

Located in Northeast Portland, this land property is the perfect opportunity for a multifamily development project. The property is zoned CM3 - Commercial Mixed Use, which allows for development of 65' height (6 stories) with potential increase to 75' (7 stories) and 3:1 FAR and a maximum of 5:1 with bonus provisions. The site is served utilities including electric, gas, water and sewer.

Adding to the appeal of this property, it is located in The Opportunity Zone, which allows for significant tax benefits for investors. This is a rare opportunity to invest in a property with strong growth potential and the added benefit of tax savings.

Highlights
Former structure has been razed by the owner to make this an ideal development site
The site a flat 'super block' consisting of .97 acres (42,253 SF)
265' frontage on NE Sandy Boulevard with 22,164 traffic count
East property boundary is NE 20th Avenue, a main arterial to the Lloyd District
North property line is NE Glisan Street, a wider than standard street
Upon receipt, seller shall deliver an NFA letter from DEQ and will work with buyer on a PPA
Property is centrally located within the City of Portland with close proximity to Interstate 84, Interstate 5, and the Central Eastside
Download Property Flyer
Brokers
Brett Bayne
Broker
Request More Info
Thank you. Your request is being delivered.