An exceptional teardown/development opportunity in the heart of Cully! Sitting on a generous 9,000 sq ft R7-zoned lot, this property offers flexibility for redevelopment or extreme renovation/rebuild- including potential for a single-family home with ADUs, duplex, fourplex, cottage cluster, or up to six units with affordability bonuses (per MHLD zoning provisions). A recent feasibility/design-build report confirms multiple viable development paths, including FAR bonuses, tree and storm water allowances, and infrastructure upgrade requirements. The site is flat, well-drained, and fronts a quiet stretch of NE Alberta, eligible for LTIC in lieu of frontage construction.Whether you're a builder, developer, or future homeowner envisioning custom new construction, this is a rare canvas with real architectural and income potential. Ideal for developers or buyers with vision-whether you're building new or exploring high-effort renovation potential.* Feasibility Report Available to purchaser* Multiple unit types permitted (SFR, ADU, Four-Sixplex, Cottage Cluster)* Affordable housing incentives & SDC exemptions* Lot is 50' wide by 180' deep lot (9,000 sf) | Zoned R7* Gross Development Value: up to ~$2,000,000 (six plex) * Existing structures on the property...* 1,152 sf single story SFR with no basement, built in 1942* 80 sf shed and 240 sf detached garage. City of Portland email info on property available.