$875,000

2737 Se 115TH Ave, Portland, OR 97266

Land
Built in ——
0.8acre lot
—— car garage
$——/sqft
Listed 2 days ago

Property Description

An extraordinary development opportunity awaits at 2737 SE 115th Ave, Portland, OR! Combination of two tax lots. Currently, only one structure stands, offering the choice to either demolish or maintain for rental income, generating $1,800 per month on a flexible month-to-month lease. You have the option to retain the tenant, securing income while finalizing permits or begin fresh with your vision. Seller can deliver the property vacant if requested. What sets this property apart is the substantial groundwork that's already been completed, saving you valuable time and financial resources. However, the potential doesn't stop there; this property offers more than one avenue for development, with possibilities ranging from 16 to 36 units. Location is key, and this property enjoys a prime position close to Division Street and the Trimet Bus line, ensuring accessibility and convenience. Moreover, the area has seen a surge in new residential infill projects, highlighting its desirability and growth potential.Buyers are encouraged to conduct their due diligence, exploring the many opportunities this property offers. Seller participating in a 1031 exchange at no expense to the buyer. Whether you're an experienced developer or a newcomer to the real estate scene, this property's pre-established groundwork, versatility, and flexible terms make it a rare find. Seize the chance to shape your vision into reality!

Listing Status:: Active
Date Added:: March 13, 2026
Data Last Updated:: March 15, 2026 at 7:43AM
Listing Office:: eXp Realty, LLC : 888-814-9613
Listing Agent:: Nicole Richards : 503-886-9156
MLS ID:: 487259976

General: ResidenceTo be torn down

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

Zoning: R5AMCGREWS TRBLOCK 2W 156.6' OF LOT 15R215170
Current Use: Residential

Utilities: Electricity availableNatural gas availableSewer connectedWater connected

Source: Regional Multiple Listing ServiceInc.

This listing courtesy of Nicole Richards , eXp Realty, LLC

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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Location

Schools Nearby

West Powellhurst Elementary School

2921 SE 116th Ave, Portland, OR, 97266

Grades PK-5

0.12 miles away

Ron Russell Middle School

3955 SE 112th Ave, Portland, OR, 97266

Grades 6-8

0.57 miles away

David Douglas High School

1001 SE 135th Ave, Portland, OR, 97233

Grades 9-12

1.34 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.