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Development Opportunity

3407 U.S. Veterans Hospital Road, Portland, OR 97239

The two land sites currently have six (6) existing, income-producing buildings. The buildings are a combination of a SFR home and five (5) multifamily plexes. A total of 15 plex units and one SFR home are professionally managed as a combined portfolio. Rents currently average $1,459 per unit. The buildings can produce approximately $280,000 in gross rents annually. Given housing demand on Marquam Hill and their proximity to the OHSU campus, the properties are consistently fully occupied. The buildings offer a developer a source of income up to construction at the site.
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Location

  • Walk Score ® Car-Dependent (47)
  • Transit Score ® Good Transit (60)
  • Bike Score ® Bikeable (52)
Powered by Walk Score ®
  • City Portland, OR
  • Neighborhood Homestead
  • Zip Code 97239
  • Market Portland

Points of Interest

Marquam Hill

0.29 miles

Marquam Hill

0.29 miles

Lincoln Street/Southwest 3rd Avenue

0.81 miles

PSU South/Southwest 6th & College

0.82 miles

PSU South/Southwest 5th & Jackson

0.83 miles

South Moody & Gibbs

0.87 miles

South Moody & Gaines

0.88 miles

South Moody & Meade

0.89 miles

South Moody & Meade

0.89 miles

South Waterfront

0.91 miles

Shell

0.32 miles

Chevron

0.84 miles

76

1.13 miles

Shell

1.17 miles

Blink

1.28 miles

76

1.36 miles

Blink

1.41 miles

Electric Avenue

1.42 miles

Electric Avenue

1.42 miles

Electric Avenue

1.42 miles

Canyon Garage

0.07 miles

Library Auditorium Lot

0.09 miles

Doernbecher Community Physician's Lot

0.12 miles

Sam Jackson Garage

0.14 miles

Doernbecher Garage

0.14 miles

Gaines West Lot

0.16 miles

Building 28 Lot

0.19 miles

CDRC Lot

0.20 miles

Campus Drive Garage

0.21 miles

Gaines East Lot

0.22 miles

Inn at Marquam Hill

0.16 miles

Sure Stay Hotel by Best Western

0.62 miles

6th Ave Motel

0.65 miles

University Place

0.77 miles

Econo Lodge

0.92 miles

Residence Inn

0.99 miles

Hyatt House Portland/Downtown

1.01 miles

Downtown Value Inn

1.01 miles

River's Edge Hotel Portland

1.02 miles

Hotel Modera

1.17 miles

Thai Yummy

0.06 miles

Sake II

0.08 miles

Caro Amico

0.55 miles

Lair Hill Bistro

0.60 miles

Dori's Gluten-Free Kitchen

0.66 miles

Brathaus

0.67 miles

Paiche

0.75 miles

Lincoln Station Grill

0.79 miles

Bluefin Sushi

0.81 miles

Panda Express

0.83 miles

Oregon Health & Science University

0.43 miles

National University of Natural Medicine

0.70 miles

Portland State University

0.82 miles

The International School

0.82 miles

Renaissance School

0.84 miles

Ainsworth Elementary School Annex

0.92 miles

School of Dentistry

0.93 miles

Robertson Life Sciences Building

0.94 miles

The Cottonwood School of Civics and Science

0.95 miles

Ainsworth Elementary School

0.96 miles

Healthy Starts Children's Center

0.86 miles

Montessori Children's House

0.93 miles

The International School

1.09 miles

Helen Gordon Child Development Center

1.13 miles

KinderCare

1.19 miles

Saint James Child Development Center

1.24 miles

Neveh Shalom Foundation School

1.26 miles

Kinder Spirit Preschool

1.29 miles

Multnomah Playschool

1.31 miles

Hilltop Preschool & Kindergarten

1.34 miles

Contacts

broker

Adam Smith

(971) 717-6345 x 503241

Highlights

  • Land currently occupied by six buildings with 16 multifamily units
  • Located directly across the street from Oregon Health & Science University (OHSU)
  • OHSU is Portland's largest employer
  • Great for a long term holder or developer looking for a covered land play
  • Extremely rare opportunity to own some of the most desirable real estate in Portland
  • Zoned for multifamily 5-over-2 construction
  • Most of the surrounding area is zoned for low-density
  • High demand for housing on Marquam Hill due to the medical university and hospital staff required

Frequently Asked Questions

What is the total square footage of Development Opportunity?

Development Opportunity totals 27,369 square feet.

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Contact Listing Broker

broker

Adam Smith

(971) 717-6345 x 503241

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