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909 SW Gaines St 0.34 Acres of Residential Land Offered at $1,075,000 in Portland, OR 97239

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INVESTMENT HIGHLIGHTS

Next to OHSU Nursing School
Investment Opportunity

City View

EXECUTIVE SUMMARY

Located next to the nursing school at OHSU, this 15000 SF of land on 3 city lots is zoned RM2. Potential for higher ratio with city approved inclusionary housing. Owner carry options: 5-7 loan with balloon payment at the end, amortized over 20 years, 20% down or more, 8% interest rate, No prepayment penalty after the 36th monthly payment. Huge investor/developer opportunity. The last 3 photos show a view at 25-45 feet from the ground level. From City of Portland Zoning Code RM2: 45'maximum height, which is generally up to 4 stories. Buyer to verify any and all zoning code applications for this property.

PROPERTY FACTS

Price	$1,075,000	Property Type	Land
Sale Type	Investment	Property Subtype	Residential
Sale Condition	Redevelopment Project	Proposed Use	Mixed Use Apartment Units Apartment Units - Condo Apartment Units - Dorms Apartment Units - Senior Single Family Development
No. Lots	1	Total Lot Size	0.34 AC
Zoning	RM2

Price	$1,075,000
Sale Type	Investment
Sale Condition	Redevelopment Project
No. Lots	1
Property Type	Land
Property Subtype	Residential
Proposed Use	Mixed Use Apartment Units Apartment Units - Condo Apartment Units - Dorms Apartment Units - Senior Single Family Development
Total Lot Size	0.34 AC
Zoning	RM2

1 LOT AVAILABLE

Lot

Price	$1,075,000	Lot Size	0.34 AC
Price Per AC	$3,161,764.71

Price	$1,075,000
Price Per AC	$3,161,764.71
Lot Size	0.34 AC

15000 SF of land on 3 city lots is zoned RM2. Potential for higher ratio with city approved inclusionary housing. Huge investor/developer opportunity.

DESCRIPTION

Located next to the nursing school at OHSU, this 15000 SF of land on 3 city lots is zoned RM2. Potential for higher ratio with city approved inclusionary housing. Huge investor/developer opportunity. The last 3 photos show a view at 25-45 feet from the ground level. From City of Portland Zoning Code RM2: 45'maximum height, which is generally up to 4 stories. 1.5:1 FAR. increasing to 2.25:1 with bonus provisions, such as affordable housing. Buyer to verify any and all zoning code applications for this property.

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