If you’re a builder or developer looking for an exciting opportunity in the real estate market, then look no further than the fixer-upper homes for sale in Oregon. Among these properties is a bright 5,000 square foot corner lot, perfectly situated between the popular neighborhoods of Hillsdale and Multnomah Village. Boasting a remarkable walk score of 84, this location is highly sought after by potential homeowners and renters alike.
What makes this particular property even more intriguing is its zoning. Classified as RM1, which stands for low density multi-unit, it opens up a world of possibilities for developers. With the potential to construct multi-unit buildings, this lot offers a chance to maximize profits while meeting the increasing demand for housing in the area.
It’s important to note that the structures on the property have suffered fire damage. However, the true value lies in the land itself. As such, this opportunity is ideal for cash buyers who are willing to invest in the potential of the location and develop it to its full potential.
Before making any commitments, conducting thorough due diligence is crucial. Buyers will need to work closely with the City of Portland to ensure that their plans align with local regulations and requirements. This step is vital to ensure a smooth and successful development process.
Furthermore, it’s worth mentioning that the current owner is a tax-exempt entity. This unique aspect may present potential tax advantages for the buyer. To fully understand and take advantage of these benefits, it is advisable to consult with an accountant or attorney familiar with real estate tax laws.
The Oregon fixer-upper homes for sale, particularly this 5,000 square foot corner lot, offer an incredible investment opportunity for builders and developers. With its prime location, low density multi-unit zoning, and the potential for tax advantages, this property presents a chance to create a lucrative real estate project.
With the demand for housing consistently rising, especially in sought-after areas like Hillsdale and Multnomah Village, this fixer-upper provides an excellent chance to fulfill the needs of potential residents while capitalizing on the growing market. Don’t miss out on this chance to turn a fire-damaged property into a profitable venture. Act now, do your due diligence, and seize this exciting opportunity in the heart of Oregon’s real estate market.
2317 SW VERMONT ST, Portland, OR 97219