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4381 NE Prescott St - Prescott 43 - Permit Ready Development Site

0.31 Acres of Residential Land Offered at £1,343,017 in Portland, OR 97218

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Investment Highlights

Approved plans, ready to develop immediately
Ideal inner NE Portland location for rental units

Wood frame design - limit construction costs without steel or concrete

Executive Summary

Developer opportunity to purchase a fully entitled shovel-ready multi-family development site located in NE Portland.

FLYER - NE PRESCOTT (Daniel Silvey)

FLYER - Prescott-Flanders (Daniel Silvey)

Property Facts

Price	£1,343,017	Property Type	Land
Sale Type	Investment	Property Subtype	Residential
No. Lots	1	Total Lot Size	0.31 AC

Price	£1,343,017
Sale Type	Investment
No. Lots	1
Property Type	Land
Property Subtype	Residential
Total Lot Size	0.31 AC

1 Lot Available

Lot

Price	£1,343,017	Lot Size	0.31 AC
Price Per AC	£4,368,416

Price	£1,343,017
Price Per AC	£4,368,416
Lot Size	0.31 AC

Level 0.31 acre "L"-shaped lot. Zoning RM1. Lot dimensions: 50' at front, 100' at rear, 185' deep. Access and frontage on NE Prescott Street.

Description

Developer opportunity to purchase a fully entitled shovel-ready multi-family development site located in NE Portland. Permitted plans include 2 three-story wood frame apartment buildings with a total of 31 units. All of the units have exterior walk-up entries. A total of four units to be affordable at 80% MFI to receive parking exemption and FAR bonus. Willing to be sold as a portfolio with another permit-ready site at 55 NE Flanders St, Portland, OR 97213 that is approved for a 5-unit wood framed apartment building consisting of all 1-bedroom units.

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4381 NE Prescott St, Portland, OR - aerial map view - Image1

4381 NE Prescott St, Portland, OR - aerial map view - Image2

Walk Score ®

Very Walkable (82)

Bike Score ®

Biker's Paradise (96)

What is a Walk Score®, Transit Score® & Bike Score®?

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Transit Score® measures access to public transit.

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PROPERTY TAXES

Parcel Number	R707258	Improvements Assessment	£0
Land Assessment	£115,413	Total Assessment	£115,413

PROPERTY TAXES

Parcel Number

R707258

Land Assessment

£115,413

Improvements Assessment

£0

Total Assessment

£115,413

zoning

Zoning Code	RM1
RM1

Listing ID: 28378220
Date on Market: 02/05/2023
Last Updated:
Address: 4381 NE Prescott St, Portland, OR 97218

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4381 NE Prescott St, Portland, OR for sale Aerial- Image 1 of 10 — Aerial

4381 NE Prescott St, Portland, OR for sale Site Plan- Image 2 of 10 — Site Plan

4381 NE Prescott St, Portland, OR for sale Floor Plan- Image 3 of 10 — Building B Third Floor

4381 NE Prescott St, Portland, OR for sale Floor Plan- Image 4 of 10 — Building B Second Floor

4381 NE Prescott St, Portland, OR for sale Floor Plan- Image 5 of 10 — Building B First Floor

4381 NE Prescott St, Portland, OR for sale Floor Plan- Image 6 of 10 — Building A Third Floor

4381 NE Prescott St, Portland, OR for sale Floor Plan- Image 7 of 10 — Building A Second Floor

4381 NE Prescott St, Portland, OR for sale Floor Plan- Image 8 of 10 — Building A First Floor

4381 NE Prescott St, Portland, OR for sale Aerial- Image 9 of 10 — Aerial

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