Development Opportunity in
For Sale
$750,000
5528 SE RHONE, Portland, OR 97206
Cleared site with permit-ready condo project in Portland's Foster-Powell.
Days on Market453
Property Features for 5528 SE RHONE
General Information
Standard status
Active
Taxes and HOA fees
Annual Taxes
$6,344
Listing Agency:
LOVEJOY REAL ESTATE
(503) 481-4601
Listed By:
SHAYDA ROHANI
Source:
Corcoran
Added: May 7, 2025
Changed: Mar 16
Last Checked: Jul 20 at 11:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LOVEJOY REAL ESTATE
Investment Insights
Based on property information with market context.
This cleared and prepped site presents a development opportunity in Portland’s Foster-Powell neighborhood. The property offers flexibility for various development options. Current plans include a nearly permit-ready condo project featuring six units. Each condo is designed to be approximately 1,800 square feet, with three bedrooms and two and a half bathrooms. Optional rooftop decks are included in the design to capture views of Portland. Architectural plans and engineering are included with the purchase. Building permits are potentially ready for issuance in as little as 60 days. Right-of-way improvements are 90% approved. A demolition permit for the existing structures has been fully paid and approved. Lead and asbestos abatement has been completed and certified with close-out letters. Both underground oil tanks have been professionally removed and cleared through DEQ. The site is suited for building new condos or pivoting to another multi-unit concept.
Key Highlights
- Permit‑ready condo project with architectural plans and engineering included, potentially issuing building permits in 60 days.
- Cleared and prepped site ready for development, offering flexibility for various multi‑unit concepts.
- Includes plans for six approximately 1,800 square foot condos, each with three bedrooms, two and a half bathrooms, and optional rooftop decks.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,020
Businesses Nearby
Explore this area
Business Placement
Demographics for 97206, OR
51,072
Population
22,348
Households
2.3
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
7,857
Density / Sq Mi
$94,233
Median Household Income
$54,254
Median Earnings
$1,693
Median Rent
$480,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Cleared site with permit-ready condo project in Portland's Foster-Powell.
Where is this commercial land located?
The property is located at 5528 SE RHONE Portland, OR.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Permit‑ready condo project with architectural plans and engineering included, potentially issuing building permits in 60 days.; Cleared and prepped site ready for development, offering flexibility for various multi‑unit concepts.; Includes plans for six approximately 1,800 square foot condos, each with three bedrooms, two and a half bathrooms, and optional rooftop decks.
