2408 Se 139TH Ave, Portland, OR 97233

Property Description

Prime RM1 Development Site – Outstanding opportunity to develop a vacant, build-ready parcel in an amazing, high-demand location. The property is zoned RM1 and offers a major head start with approximately $20,000 in permit intake fees already paid.The City has approved a 9-unit townhouse-style condominium project, currently designed with spacious 4-bedroom, 3.5-bath layouts—ideal for today’s buyer or rental market. There is flexibility to reconfigure to smaller units, with the option to pursue a Type 3 development for increased density, subject to additional City approval.An excellent opportunity for builders and developers seeking a well-located multifamily site with approvals in place, reduced pre-development costs, and upside potential through alternative unit configurations.

Listing Status:

Active

Date Added:

February 10, 2026

Data Last Updated:

June 11, 2026 at 5:40PM

Listing Office:

Cascade Hasson Sotheby's International Realty : 503-335-9898

Listing Agent:

Mary Nguyen : 971-249-2553

MLS ID:

231612732

Location

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

Lot

• Zoning: RM1HOOD ACRES & PLAT 2 & 3BLOCK 10LOT 15 EXC NLY 53' OF WLY 105'R183888
• View: View
• Current Use: Other

Utilities

• Utilities: Cable availableElectricity availableNatural gas availablePublic sewerWater available

Financial

• Source: Regional Multiple Listing ServiceInc.