3800 Martin Luther King Jr BlvdPortland, OR 97212

For Sale
$2,990,000

Permit-ready, 83-unit development site.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional 19,200 square foot development site, located at 3800 NE Martin Luther King Jr Blvd in Portland, Oregon (97212), presents a fully engineered, permit-ready opportunity for a multifamily project. Zoned CM3, this property comprises four parcels (APN: R206899, R702846, R702837, R702810) and offers a high-visibility location along the vibrant NE MLK Corridor. The proposed development encompasses 83 units, including 74 residential apartments and 9 live-work units, distributed across four buildings. Buildings 1-3 each feature 21 units, while Building 4 houses 20 units, incorporating the live-work spaces. Unit sizes range from 336 to 702 square feet, with a mix of 62 studio and 21 one-bedroom apartments. The total gross area across all buildings is 46,139 square feet, with a total rentable area of 35,118 square feet. This is a turn-key opportunity for an investor seeking a high-potential multifamily development in a desirable Portland location. The asking price for this exceptional property is $2,990,000.

Highlights

  • $2,990,000 asking price for a permit-ready multifamily development site.
  • 19,200 square foot lot comprised of four parcels (APN: R206899, R702846, R702837, R702810) in Portland, Oregon.
  • CM3 zoning allows for a planned 83-unit multifamily development (74 apartments + 9 live/work units).
  • High-visibility location on NE MLK Jr Blvd in Portland's desirable Northeast neighborhood.
  • Project includes 62 studio and 21 one-bedroom units ranging from 336 to 702 square feet.

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.55082731
Longitude
-122.6615222
3800 Martin Luther King Jr Blvd, Portland, Oregon

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3800 Martin Luther King Jr Blvd
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