$4500000
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Bed
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Bath
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SqFt
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1 DOM
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Built:
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Status: Active
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This rare nine-lot assemblage presents a significant multifamily development opportunity in a highly desirable transit-oriented location. The combined parcels total approximately 100,190 square feet and are zoned RM3, allowing for substantial residential density and long-term upside potential. Under current zoning, the site supports development of approximately 100 market-rate units. By utilizing the 3:1 FAR base ratio and taking advantage of available density bonuses for affordable housing, the development potential increases dramatically to a higher number of units. Qualifying projects may also benefit from no minimum parking requirements, providing greater flexibility in site planning and improved project efficiency. The property is ideally situated with excellent access to light rail, multiple bus lines, parks, shopping, and restaurants. This strong connectivity enhances long-term rental demand and positions the site well for both market-rate and affordable housing development. In addition to its development potential, the property currently generates rental income, helping offset holding costs while development plans, entitlements, and permitting are pursued. This income component provides strategic flexibility during the planning phase. Opportunities of this scale, density, and transit accessibility are increasingly rare. This assemblage offers a compelling combination of current income, zoning flexibility, and substantial future development capacity in a growing corridor. Buyer to perform their own due diligence regarding development capacity, FAR bonuses, affordable housing incentives, and all zoning requirements.
Listing Provided Courtesy of Cornell Mann, Great Western Real Estate Co
General Information
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508452690
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MultiFamily
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1 DOM
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2.3 acres
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RM3
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Multnomah
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Not Found
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Ventura Park
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Floyd Light
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David Douglas
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Land
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MultiFamily
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To follow
Listing Provided Courtesy of Cornell Mann, Great Western Real Estate Co
PDXA1 Realty Group data last checked: Mar 04, 2026 12:18 | Listing last modified Feb 25, 2026 10:20,
Source:
Residence Information
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No
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Features and Utilities
Financial
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40025
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0
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Cash,Conventional,LowIncomeLoan
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02-24-2026
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No
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No
Comparable Information
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1
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8
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Cash,Conventional,LowIncomeLoan
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$4,500,000
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$4,500,000
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Feb 25, 2026 10:20
Schools
Map
Listing courtesy of Great Western Real Estate Co.
The content relating to real estate for sale on this site comes in part from the IDX program of the RMLS of Portland, Oregon.
Real Estate listings held by brokerage firms other than this firm are marked with the RMLS logo, and
detailed information about these properties include the name of the listing's broker.
Listing content is copyright © 2019 RMLS of Portland, Oregon.
All information provided is deemed reliable but is not guaranteed and should be independently verified.
PDXA1 Realty Group data last checked: Mar 04, 2026 12:18 | Listing last modified Feb 25, 2026 10:20.
Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
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