- For Sale $3,800,000
- Property Type Multi-Family
- Property Size 48,603 SF
- Units 113
- Lot Size 0.44 Acre
- Year Built 1997
- Date Updated May 6, 2026
Description
Located in downtown PortlandRare acquisition rehab and development opportunity in the heart of Portland. In addition to 113 LIHTC units, buyer has the opportunity to assemble nearly 3/4ths of a city block. In the 2026 Qualifying Census Tract (QCT) and an Opportunity Zone, buyer of the apartments may have the opportunity to purchase the three story parking deck underneath, which presents an opportunity to convert two floors to as many as 57 additional multi-family units. The adjoining vacant lot (approximately 0.23 acres) is also available. Contact listing broker for more details.
Highlights
- 1997 vintage
- Mix of studios and 1 bedrooms at 50-60% AMI
- OZ and QCT (In Westside TIF district - resources available for market rate, commercial, and Affordable and middle income housing)
- Portland CX - Central Commercial
- Restriction through 2067, possible renegotiation with agencies
- Soft debt of ~ $1.66 million, due to PHB, payable through 50% of excess cash flow at year end.
- Two blocks from MAX light rail
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Contacts
Bjorn Beer
SVN | Imbrie Realty
Location
Located at 222 SW Pine St, Portland, OR 97204, this property is part of the Downtown Portland neighborhood and Portland market.
Contact Listing Broker
Bjorn Beer
SVN | Imbrie Realty
