5205 SE 18Th Ave, Portland, OR 97202

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.