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Listed by Lovejoy Real Estate
$ 750,000
Est. payment /mo
Active
5528 SE RHONE ST Portland, OR 97206
8,276 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Residential Recreational
Listing Status Active
Purchase Type For Sale
MLS Listing ID 379652990
Annual Tax Amount $6,344
Tax Year 2024
Lot Size 8,276 Sqft
Property Sub-Type Residential Recreational
Property Description
Prime Development Opportunity in Portland's Foster-Powell Neighborhood! This cleared and prepped site offers remarkable flexibility, whether you choose to proceed with the nearly permit-ready condo project or reimagine the space for a different development. The current design includes plans for six beautifully designed, approximately 1,800 square foot condos, each offering three bedrooms, two and a half bathrooms, and optional rooftop decks to capture stunning Portland views. The purchase includes all architectural plans and engineering, with building permits potentially ready for issuance in as little as 60 days. This project is already well underway, with right-of-way improvements 90% approved, a fully paid and approved demolition permit for the existing structures, and certified completion of lead and asbestos abatement with close-out letters. Both underground oil tanks have also been professionally removed and cleared through DEQ. Whether building stylish new condos or pivoting to another multi-unit concept, this is a rare chance to create something special in a dynamic and highly desirable community. Bring your vision and take advantage of this nearly shovel-ready development opportunity.
Location
State OR
County Multnomah
Area _143
Zoning R1
Exterior
Utilities Available CableAvailable, ElectricityAvailable, NaturalGasAvailable, PublicSewer, WaterAvailable
Garage No
Building
Lot Description Corner Lot
Schools
Elementary Schools Atkinson
Middle Schools Mt Tabor
High Schools Franklin
Others
Acceptable Financing Cash, Other
Listing Terms Cash, Other
