2401 4Th AvePortland, OR 97201

Property Details for 2401 4Th Ave

Year built

1962

Lot size

0.37 AC

Property size (Sq ft)

15,680 SF

Zone code

CG

Property type

Hotels

APN

1S1E04DD 01200

APU

1S1E04DD01200

Description

This exceptional investment opportunity presents a 40-key motel, the Downtown Portland SureStay by Best Western, currently operating as a budget hotel. Located at 2401 SW 4th Ave, Portland, OR 97201, this property boasts 19,600 square feet across two, three-story buildings, built in 1962. The asking price is $4,500,000, translating to $229.59 per square foot. The property features 40 on-site parking spaces and is zoned CM3d. Its strategic location in the heart of downtown Portland offers convenient access to I-5 and I-405 freeways, placing it within easy reach of Oregon Health and Sciences University and the vibrant downtown area, brimming with shopping, dining, and entertainment options. The existing structure presents a compelling value-add opportunity, but the site's potential extends beyond its current use. Its prime location makes it highly suitable for conversion into micro-units or redevelopment into a multi-family housing project. This is a rare chance to acquire a well-positioned asset with significant upside potential in a thriving urban market. The property's strong location and flexible zoning provide a unique opportunity for investors seeking a value-add project with substantial long-term growth prospects.

• CAP approach

  CAP return

  Valuation

  6%

  $3,564,050

  6.5%

  $3,289,890

  7%

  $3,054,900

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,566,710

  Geo Method

  $2,566,710

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $9,300,000

  Retail / Commercial

  $4,684,850

  Mixed-Use / Specialty

  $4,601,840

  Office

  $4,505,440

  Institutional / Educational

  $4,760,360

  Residential Income

  $5,569,620

  Multifamily

  $7,047,490

  Automotive / Energy

  $4,080,310

  Parking / Income-Based Land

  $1,473,570

  Restaurant / Food Service

  $2,251,940

  Healthcare / Senior Housing

  $4,787,100

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5057

Longitude

-122.682

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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