2535 89Th AvePortland, OR 97266

For Sale
$1,600,000

0.37-acre CM2 lot; high development potential.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional 0.37-acre commercial land parcel, located at 2535 SE 89th Ave in Portland, Oregon (Multnomah County, zip code 97266), presents a compelling investment opportunity. The property is zoned CM2, offering significant development potential. The asking price is $1,600,000. Existing plans, available for review, propose retaining the existing house and constructing four three-plex buildings, resulting in a substantial increase in rental income. However, the CM2 zoning allows for a wide range of development options, with potential building footprints ranging from 40,500 to 64,800 square feet, depending on the utilization of bonus provisions. Prospective buyers are advised to independently verify these figures with the City of Portland. This versatile property is ideally suited for a large apartment complex, retail space, storage facility, or a mixed-use development. The property's APN is R193369. Please note that the current tenants should not be disturbed. Scheduled viewings of the existing house are required.

Highlights

  • $1,600,000 asking price.
  • 0.37-acre commercial land parcel.
  • CM2 zoning.
  • Located at 2535 SE 89th Ave, Portland, OR 97266 (APN R193369).
  • Development potential for significant building square footage (buyer to verify with City of Portland).

Property Details for 2535 89Th Ave

Property type
Other land, Land
Lot Size (sq. ft)
16,117 SF

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.5039818
Longitude
-122.5720225
2535 89Th Ave, Portland, Oregon

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2535 89Th Ave
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