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E Burnside StreetPortland, OR 97216Price: $4,500,000

  • Price: $4,500,000
  • Est. Mortgage of $/month
  • 148 Days on Market
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Federal 30-year interest rate: 6.55% last updated on Jul 16, 2026
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $4,500,000List Price
  • 2.3Acreage
Listed by Cornell Mann of Great Western Real Estate Co (GreatWesternRE@gmail.com)
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This rare nine-lot assemblage presents a significant multifamily development opportunity in a highly desirable transit-oriented location. The combined parcels total approximately 100,190 square feet and are zoned RM3, allowing for substantial residential density and long-term upside potential. Under current zoning, the site supports development of approximately 100 market-rate units. By utilizing the 3:1 FAR base ratio and taking advantage of available density bonuses for affordable housing, the development potential increases dramatically to a higher number of units. Qualifying projects may also benefit from no minimum parking requirements, providing greater flexibility in site planning and improved project efficiency. The property is ideally situated with excellent access to light rail, multiple bus lines, parks, shopping, and restaurants. This strong connectivity enhances long-term rental demand and positions the site well for both market-rate and affordable housing development. In addition to its development potential, the property currently generates rental income, helping offset holding costs while development plans, entitlements, and permitting are pursued. This income component provides strategic flexibility during the planning phase. Opportunities of this scale, density, and transit accessibility are increasingly rare. This assemblage offers a compelling combination of current income, zoning flexibility, and substantial future development capacity in a growing corridor. Buyer to perform their own due diligence regarding development capacity, FAR bonuses, affordable housing incentives, and all zoning requirements.

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Based on information submitted to OR_RMLS_WEB_API as of July 21, 2026 9:14 PM UTC . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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