2737 SE 115th AVE
Portland, OR 97266
$1,195,000
Beds: 2
Baths: 1
Sq. Ft.: 1,230
Type: House
Listing #23346998
An extraordinary development opportunity awaits at 2737 SE 115th Ave, Portland, OR! Combination of two tax lots. Currently, only one structure stands, offering the choice to either demolish or maintain for rental income, generating $1,800 per month on a flexible month-to-month lease. You have the option to retain the tenant, securing income while finalizing permits or begin fresh with your vision. Seller can deliver the property vacant if requested. What sets this property apart is the substantial groundwork that's already been completed, saving you valuable time and financial resources. However, the potential doesn't stop there; this property offers more than one avenue for development, with possibilities ranging from 16 to 36 units. Location is key, and this property enjoys a prime position close to Division Street and the Trimet Bus line, ensuring accessibility and convenience. Moreover, the area has seen a surge in new residential infill projects, highlighting its desirability and growth potential.Buyers are encouraged to conduct their due diligence, exploring the many opportunities this property offers. To sweeten the deal, the seller is open to Joint Ventures or offering Seller Carry Terms with an adequate down payment. Whether you're an experienced developer or a newcomer to the real estate scene, this property's pre-established groundwork, versatility, and flexible terms make it a rare find. Seize the chance to shape your vision into reality! See Listing #23277729 [Home Energy Score = 4. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10222321]
Property Features
County: Multnomah
Area: Portland Southeast
Directions: 115th and Division
Primary Bedroom Description: Level: Main
Has Fireplace: Yes
Num Fireplaces: 1
Heating: Wall Furnace
Heating Fuel: Electricity
Style: 1 Story
Stories: 1
Exterior Description: Lap Siding
Roof: Composition
Sewer: Public Sewer
Water: Public Water
Parking Description: Driveway, Off Street
Has Garage: Yes
Garage/Parking Spaces: 2
Parking Spaces: 2
Lot Description: Level
Lot Size: 20, 000 SqFt to .99 Acres
Lot Size in Acres: 0.8
Zoning: RA5
Garage Description: Detached
Road Surface: Paved
Elementary School: W Powellhurst
Jr High School: Ron Russell
High School: David Douglas
List Date: 09/13/2023
Property Condition: Unknown
Property Subtype: Single Family Residence
Year Built: 1948
Status: Active
Tax Year: 2022
Tax Amount: $4,240.91
Green Certification: Yes
$ per month
Year Fixed. % Interest Rate.
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This Listing Courtesy of eXp Realty, LLC
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RMLS - Oregon data last updated at March 8, 2024 7:22 AM PT
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