Zoned Residential Development
For Sale
$595,000
540 S NEVADA ST, Portland, OR 97219
Nearly level, RM1-zoned lot with a decommissioned pump house that offers flexible redevelopment options.
Property SizeContact for details
Lot Size0.17 Acres
Days on Market324
Property Features for 540 S NEVADA ST
General Information
Standard status
Active
Lot size
0.17 Acres
Property subtype
Land
Zoning
RM1
Taxes and HOA fees
Annual Taxes
$6,573
Amenities
0.17
GentleSloping,Level
Paved
Listing Agency:
Infinity Properties
(503) 789-2906
Listed By:
Dane Dykeman
(503) 789-2906
Source:
Premierepropertygroup
Added: Oct 1, 2025
Changed: Aug 14
Last Checked: Aug 14 at 7:09AM
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 Infinity Properties
Investment Insights
Based on property information with market context.
This offering consists of a nearly level 7,400 square foot lot zoned RM1. A decommissioned pump house on site is currently present and may be preserved and repurposed for commercial use, converted to residential use with expansion, or removed to support a new build and maximize building footprint and total unit count. The seller notes that buyer due diligence is required to confirm feasibility and permitting outcomes.
The property is located at 540 S Nevada St, Portland, OR 97219. The provided information references Portland zoning specifications for the RM1 designation, including a minimum dwelling density requirement of at least one dwelling per 2,500 square feet of land, with no maximum dwelling number specified. Seller financing may be considered for a limited term, subject to terms, including timing aligned with construction financing or permits approval.
For developers and builders, the combination of a residential zoning base and an existing structure creates multiple redevelopment paths, from adaptive reuse of the pump house to full redevelopment. The RM1 density guidance provided supports planning conversations around achievable dwelling counts, while the final design and allowable uses should be validated through the buyer’s permitting and due diligence process.
The property is located at 540 S Nevada St, Portland, OR 97219. The provided information references Portland zoning specifications for the RM1 designation, including a minimum dwelling density requirement of at least one dwelling per 2,500 square feet of land, with no maximum dwelling number specified. Seller financing may be considered for a limited term, subject to terms, including timing aligned with construction financing or permits approval.
For developers and builders, the combination of a residential zoning base and an existing structure creates multiple redevelopment paths, from adaptive reuse of the pump house to full redevelopment. The RM1 density guidance provided supports planning conversations around achievable dwelling counts, while the final design and allowable uses should be validated through the buyer’s permitting and due diligence process.
Key Highlights
- Nearly level 7,400 SF lot on a gentle‑sloping/level site (0.17 acres) with paved road surface
- RM1 zoning with Portland zoning specs allowing a minimum of 1 dwelling per 2,500 SF and no maximum number of dwellings specified
- Decommissioned pump house on site that can be preserved and potentially repurposed, converted/expanded for residential use, or torn down for new construction
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 97219, OR
42,474
Population
18,881
Households
2.2
Avg Household Size
40
Median Age
66%
College-Educated
98%
High-School Grad
11.7 sq mi
ZIP Area
3,630
Density / Sq Mi
$115,525
Median Household Income
$59,178
Median Earnings
$1,603
Median Rent
$651,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Nearly level, RM1-zoned lot with a decommissioned pump house that offers flexible redevelopment options.
Where is this residential land & home lot located?
The property is located at 540 S NEVADA ST Portland, OR.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Nearly level 7,400 SF lot on a gentle‑sloping/level site (0.17 acres) with paved road surface; RM1 zoning with Portland zoning specs allowing a minimum of 1 dwelling per 2,500 SF and no maximum number of dwellings specified; Decommissioned pump house on site that can be preserved and potentially repurposed, converted/expanded for residential use, or torn down for new construction
