3124 SE 20TH Ave Portland, OR 97202

Located in the Hosford Abernethy neighborhood, this property presents a rare development opportunity with RM2 zoning on a 0.30 acre lot. The primary value lies in the land, offering size, configuration, and zoning that support redevelopment potential in a close-in location. RM2 zoning allows for medium scale multifamily development consistent with the surrounding urban fabric. The lot's depth, frontage, and overall scale create flexibility for a range of redevelopment concepts, whether pursued as a single phase or through a staged approach. Existing on the property are two detached homes with utilities, access, and improvements in place, providing optional interim holding income while development plans are finalized. One structure is a 1,944 square foot duplex with two units and basement areas. The second is a 1,682 square foot detached home with basement space, a garage, a shared driveway, and an additional paved off street parking pad. Each home benefits from a fully fenced yard. These improvements may be utilized short term or removed to unlock the site's highest and best use. The surrounding area features a mix of established residences, small scale multifamily, and newer infill projects, reinforcing strong demand drivers for future housing. The property is located six blocks from New Seasons Market and the Clinton Community Garden, with additional proximity to Division Street amenities, neighborhood parks, dining, and services further enhancing the site's long term development appeal. This property presents an opportunity to control a sizable parcel in a Southeast Portland submarket.