Moreland Permits Issued 59-unit Multifamily Development Site
Property Details
Price
$2,250,000
Property Details
Multifamily
Total Lot Size
0.22956841138659 Acres
Description

5205 SE 18th Avenue is a 10,000 square foot, 59-unit multifamily development site. Permits have been issued by the City of Portland. 2019 System Development Charge (SDC) fees have been locked in at 2019 SDC rates with a deferral agreement in place. The property comes with all plans, engineering, entitlements, and rights. Construction could start immediately.

Highlights
Popular Sellwood Moreland neighborhood
Zoning is RH Residential High Density
Two blocks to MAX Light Rail station
Building permits have been issued
Legacied 2019 SDC fees
Site comes with plans, engineering, entitlements and rights
Erosion Control measures installed and inspected
Ready to start construction immediately
2025 will see the fewest new multifamily construction starts since 2008
Rent growth in the next several years will be exceptional
Interest rates are coming down
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Brokers
Skip Rotticci, CCIM
Broker
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