2401 4th Ave Portland, OR 97201

This exceptional investment opportunity presents a 40-key motel, the Downtown Portland SureStay by Best Western, currently operating as a budget hotel. Located at 2401 SW 4th Ave, Portland, OR 97201, this property boasts 19,600 square feet across two, three-story buildings, built in 1962. The asking price is $4,500,000, translating to $229.59 per square foot. The property features 40 on-site parking spaces and is zoned CM3d. Its strategic location in the heart of downtown Portland offers convenient access to I-5 and I-405 freeways, placing it within easy reach of Oregon Health and Sciences University and the vibrant downtown area, brimming with shopping, dining, and entertainment options. The existing structure presents a compelling value-add opportunity, but the site's potential extends beyond its current use. Its prime location makes it highly suitable for conversion into micro-units or redevelopment into a multi-family housing project. This is a rare chance to acquire a well-positioned asset with significant upside potential in a thriving urban market. The property's strong location and flexible zoning provide a unique opportunity for investors seeking a value-add project with substantial long-term growth prospects.