2146623
250febe4-6dba-4209-a928-4f9b570fad61
Development Opportunity
3407 U.S. Veterans Hospital Road, Portland, OR 97239
- For Sale $4,100,000
- Property Type Other
- Property Size 27,369 SF
- Units 16
- Date Updated Aug 11, 2022
- Website marquamhillplexportfoliodevelopmentopportunity.sharplaunch.com
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
Transportation
Fuel station
Parking
Hotels
Restaurants
Education
Child care
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
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
Adam Smith
(971) 717-6345 x 503241
