2818 Park AveMilwaukie, OR 97222

For Sale
$675,000

43-Unit Apartment Building, .44 Acres

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional mixed-use property at 2818 SE Park Ave, Milwaukie, Oregon (97222), presents a rare redevelopment opportunity. The 5,234 square foot building, constructed in 1925, sits on a 19,297 square foot lot (.44 acres) and currently features 43 apartment units. The C3 - General Commercial zoning allows for continued use as a retail space or redevelopment into residential units. Its strategic location, just one block from the Milwaukie Orange TriMet Line and 99E, offers unparalleled access to public transportation and major roadways. Adding to its potential, an adjacent 15,055 square foot lot is available for purchase, allowing for the development of an additional 2-4 units, increasing the total potential unit count to 45-47. This property is situated within an Enterprise Zone, offering potential tax advantages. The asking price for this significant investment is $675,000. This is a unique chance to capitalize on a high-demand location and create a substantial multi-family development or a thriving mixed-use complex. Don't miss this chance to acquire a property with significant upside potential in a rapidly growing area.

Highlights

  • Rare redevelopment opportunity in Milwaukie, OR.
  • Prime location, one block from TriMet & 99E.
  • Two adjacent lots totaling nearly 35,000 sq ft, potential for 45-47 units.
  • Located in an Enterprise Zone.

Property Details for 2818 Park Ave

Property type
Multifamily properties, Apartment buildings
Square Feet
5,234 SF
Year Built
1925
Units
43

Location Insight

City
Milwaukie
County
Clackamas
State
Oregon
Latitude
45.4299002
Longitude
-122.6336471
2818 Park Ave, Milwaukie, Oregon

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2818 Park Ave
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