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    5205 18Th Ave Portland, OR 97202

    Sponsored
    For Sale
    $2,250,000

    Shovel-ready, 59-unit potential, prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This exceptional 10,000 square foot development site in Portland, Oregon's desirable Sellwood-Moreland neighborhood presents a unique opportunity for immediate construction of a 59-unit multifamily building. Located at 5205 SE 18th Ave, Portland, OR 97202, this fee simple property is zoned RH (Residential High Density), offering significant potential for high-density residential development. All necessary permits have been issued and paid for, significantly reducing upfront costs and timelines. Erosion control measures are already in place and inspected, streamlining the construction process. The site benefits from locked-in 2019 System Development Charges (SDC) rates and existing deferral agreements, providing substantial savings compared to current 2024 rates and eliminating the need to navigate updated fire and life safety requirements. Comprehensive plans, engineering documents, and all necessary entitlements are included with the sale. The property's proximity to the MAX Light Rail station further enhances its appeal and potential rental income. With interest rates declining and multifamily demand surging, this is an exceptional opportunity to capitalize on the current market conditions and begin construction immediately upon closing. Anticipated low new multifamily construction starts in 2025 and projected exceptional rent growth in the coming years make this a compelling investment.

    Property Features for 5205 18Th Ave

    General Information

    Property type
    Land

    HighLights

    • Desirable Sellwood‑Moreland location.
    • RH High‑Density zoning allows for significant development.
    • Two blocks from MAX Light Rail.
    • Building permits secured.
    • Legacy 2019 SDC fees included.
    • Approved plans, engineering, entitlements, and development rights provided.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.647661
    Latitude
    45.485117

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    FAQs

    What type of property is this?
    Land - Shovel-ready, 59-unit potential, prime location.
    Where is this land located?
    The property is located at 5205 18Th Ave Portland, OR.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: Desirable Sellwood-Moreland location.; RH High-Density zoning allows for significant development.; Two blocks from MAX Light Rail.
    (503) 227-2500
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    5205 18Th Ave Portland, OR 97202
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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
    5205 18Th Ave Portland, OR 97202
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