Multi-Family

Burnside Assemblage

Listing Price: $4,642,960

Lot Size
3.05 acres
Price/Acre
$1,524,600
Land Type
Land
Buildable Square Feet
132,656

Investment Overview

The opportunity consists of 3 different listings which vary in size but are comprised of multiple tax lots. The properties consist of 113,840 SF zoned RM3, divided in eleven different tax lots and one tax lot zoned RM2 at 18,816 SF. Last February, the City of Portland passed an inclusionary law that requires a development of 20+ units to add a percentage of low-income units to the development. Due to the multiple tax lots the Burnside Assemblage allows some flexibility to fall under this requirement. The site is well located in close proximity to Glisan Street Station, a strip mall anchored by Safeway, which includes a variety of small businesses. The Menlo Park Park & Ride, on the corner across 122nd St., allows commuters living east of Interstate 205 to park their car and commute downtown using the TriMet MAX light rail as well as having access to several bus lines. The area boasts many restaurants and retail establishments. Hazelwood offers quiet, tree lined residential streets in the midst of several highly popular roads such as Burnside Street and 122nd Ave. Hazelwood has a mix of residential and commercial areas. The largest employer in the area is the Adventist Hospital. You will find plenty of parks within walking distance such as the Ventura City Park and East Holladay Park. The Burnside Assemblage portfolio can be sold together or separately: Burnside Assemblage 1 at 11833 E Burnside St, Burnside Assemblage 2 at 11835 NE Couch St, and Burnside Assemblage 3 at 136 NE 117th Ave.

Investment Highlights

  • Multiple Lots Allowing Flexibility to Navigate the Inclusionary Zoning
  • Transportation Bonus With Trimet MAX Lines Two Blocks Away
  • 7.3 Miles from Downtown
  • Good for Commuters With Easy Access to MAX Lines, I-83, I-205
  • 18 Bars and Restaurants Within Half Mile Radius, Very Walkable

Exclusively Listed By

Multi-Family

Burnside Assemblage

Listing Price: $4,642,960

Lot Size
3.05 acres
Price/Acre
$1,524,600
Land Type
Land
Buildable Square Feet
132,656

Investment Highlights

  • Multiple Lots Allowing Flexibility to Navigate the Inclusionary Zoning
  • Transportation Bonus With Trimet MAX Lines Two Blocks Away
  • 7.3 Miles from Downtown
  • Good for Commuters With Easy Access to MAX Lines, I-83, I-205
  • 18 Bars and Restaurants Within Half Mile Radius, Very Walkable

Investment Overview

The opportunity consists of 3 different listings which vary in size but are comprised of multiple tax lots. The properties consist of 113,840 SF zoned RM3, divided in eleven different tax lots and one tax lot zoned RM2 at 18,816 SF. Last February, the City of Portland passed an inclusionary law that requires a development of 20+ units to add a percentage of low-income units to the development. Due to the multiple tax lots the Burnside Assemblage allows some flexibility to fall under this requirement. The site is well located in close proximity to Glisan Street Station, a strip mall anchored by Safeway, which includes a variety of small businesses. The Menlo Park Park & Ride, on the corner across 122nd St., allows commuters living east of Interstate 205 to park their car and commute downtown using the TriMet MAX light rail as well as having access to several bus lines. The area boasts many restaurants and retail establishments. Hazelwood offers quiet, tree lined residential streets in the midst of several highly popular roads such as Burnside Street and 122nd Ave. Hazelwood has a mix of residential and commercial areas. The largest employer in the area is the Adventist Hospital. You will find plenty of parks within walking distance such as the Ventura City Park and East Holladay Park. The Burnside Assemblage portfolio can be sold together or separately: Burnside Assemblage 1 at 11833 E Burnside St, Burnside Assemblage 2 at 11835 NE Couch St, and Burnside Assemblage 3 at 136 NE 117th Ave.

Exclusively Listed By

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