2371 Se 51ST Ave, Portland, OR 97215

• 2,004 sqft

Property Description

Exceptional Richmond District Opportunity | Remodeled Home + Future Development PotentialRare opportunity to acquire a beautifully remodeled home with professionally prepared cottage cluster plans illustrating the potential for additional future development. Prime Richmond location with convenient access to neighborhood restaurants, parks, shopping, transit, and some of Portland's most desirable amenities.The existing residence has been extensively renovated and offers 3 bedrooms, 3 full bathrooms, plus a fourth non-conforming bedroom in the finished basement. Blending original character with modern updates, the home features flexible living spaces and income-producing potential. The lower level includes a separate exterior entrance and kitchenette, creating opportunities for multigenerational living, guest accommodations, or additional rental income. *Remodel on existing home will be finished on 7/1/26 with photos to follow. In addition to the existing home, the seller has invested in professionally prepared plans exploring multiple development scenarios for the site.Concept Option #1 – Two Detached Cottage With BasementApproximately 1,285 SF each3 bedrooms + office3 full bathroomsUpper-level primary suite plus additional bedroom and bathroomMain-level office/flex space and full bathroomFinished lower level with kitchenette, living area, bedroom, and bathroomPotential flexibility for separate upper and lower-level living arrangements (buyer to verify)Concept Option #2 – Alternative Cottage ConfigurationApproximately 2 bedrooms and 2.5 bathrooms per unitDual upstairs en-suite bedroomsFlexible main-level layout optionsPotential office/flex spaceAdditional floor plan variations available for reviewWhether your goal is to occupy the primary residence, generate rental income, pursue future development, or create a multigenerational compound, this property offers a unique combination of immediate usability and long-term upside. Buyer to verify development oppurtunities.

Listing Status:

Active

Date Added:

June 19, 2026

Data Last Updated:

June 27, 2026 at 3:42PM

Listing Office:

Works Real Estate : 503-714-7053

Listing Agent:

Jordan Snook : 503-830-4135

MLS ID:

209170910

Interior

• Basement: Finished
• Heating: Forced air

Exterior

• General: Metal siding
• Parking: Driveway

Construction

• Roofing: Composition
• General: Concrete perimeter

Location

• Road/Access: Paved
• Originating MLS: Regional Multiple Listing ServiceInc.
• County: Multnomah

Lot

• Zoning: RM -151ST STREET ADDBLOCK 1N 1/2 OF E 25' OF LOT 18N 1/2 OF LOTR162689

Utilities

• Water: Public water
• Sewer: Public sewer

Financial

• Source: Regional Multiple Listing ServiceInc.