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    306 8Th Ave Portland, OR 97214

    Sponsored
    For Sale
    $5,000,000

    144-Unit Permit-Ready Development

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional opportunity presents a fully entitled 144-unit residential development site in Portland, Oregon's desirable Buckman neighborhood. Located at the corner of SE 8th Ave and SE Pine Street, this 19,088 square foot lot is priced at $5,000,000 ($34,722 per square foot). The project includes vested pre-inclusionary zoning and sits within an Opportunity Zone, offering significant investment advantages. The conceptual design features a seven-story mixed-use building encompassing studio, one, and two-bedroom units, along with 3,255 square feet of commercial space. Residents will enjoy amenities such as a resident lounge, fitness room, and outdoor amenity deck. Select units boast walk-in closets and balconies offering stunning views of the Willamette River, Mount Hood, and the Portland skyline. The building also includes a 26-space parking garage. Its prime location provides easy access to TriMet bus lines and the Portland Streetcar (Loops A & B), placing residents near notable developments like Soho House and the Grand Stark Hotel. This permit-ready project offers a compelling investment opportunity with strong potential for significant returns. The total building gross area is 109,586 square feet, plus an additional 5,659 square feet of amenity space.

    Property Features for 306 8Th Ave

    General Information

    Property type
    Multifamily properties

    HighLights

    • Sale Price: $5,000,000, representing $34,722 per unit.
    • 144 units, comprised of studios, one‑bedroom, and two‑bedroom apartments.
    • 26 garage parking spaces.
    • 109,586 square feet of building gross area, plus 5,659 square feet of amenity space.
    • 3,255 square feet of commercial space.
    • 19,088 square feet of gross land area.
    Property Profile Location Intelligence

    Current Use by Public Records

    High-rise multifamily apartments

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.65668015384
    Latitude
    45.520728185137

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    FAQs

    What type of property is this?
    Multifamily property - 144-Unit Permit-Ready Development
    Where is this multifamily property located?
    The property is located at 306 8Th Ave Portland, OR.
    What is the asking price?
    The asking price for this property is $5,000,000.
    What are key features of this property?
    This property features: Sale Price: $5,000,000, representing $34,722 per unit.; 144 units, comprised of studios, one-bedroom, and two-bedroom apartments.; 26 garage parking spaces.
    (503) 222-2655
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    306 8Th Ave Portland, OR 97214
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    Portland, OR 97214
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    306 8Th Ave Portland, OR 97214
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