23 151St AvePortland, OR 97230

Property Details for 23 151St Ave

Property size (Sq ft)

43,400 SF

Property type

Retail properties

Property subtype

Office properties

Description

This exceptional 43,400 square foot development site in Portland, Oregon, presents a unique investment opportunity. Located at 23 NE 151st Ave, in Multnomah County (zip code 97230), this +/- 1-acre parcel is zoned RM2dh, offering a 1.5 FAR with a 0.5 IH bonus, allowing for a maximum height of 100 feet (stepdowns required). The asking price is $1,200,000, or approximately $27.65 per square foot. Conceptual plans are available for a 104-unit multifamily building featuring a mix of studio, one-bedroom, and two-bedroom units. The property's location within a Qualified Census Tract (QCT) provides additional development incentives. Its convenient location offers proximity to various amenities, including multiple local restaurants and retailers, Glenfair Park, Glendoveer Nature Exercise Trails, and the East 148th Ave MAX Light Rail Station (Blue Line). The versatile zoning allows for residential, retail, and office uses, making this a highly desirable site for a variety of development projects. The APN is R109824. This is a prime opportunity to capitalize on Portland's thriving real estate market.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5232

Longitude

-122.508

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