2121 SE 89th Avenue - Redevelopment Propert

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2121 SE 89th Avenue - Redevelopment Propert

Portland, OR 97216-2011
Asking Price
$475K
Asset Type
Land
Class
Class B

What's Special

2121 SE 89th Avenue is situated in the Montavilla neighborhood of East Portland, positioned just south of the SE Division Street corridor. The property offers proximity to multi-modal transportation options, including immediate access to TriMet bus lines and the nearby Interstate 205 interchange. Local amenities include a variety of retail centers, grocery stores, and dining establishments along the Division and 82nd Avenue thoroughfares. The surrounding area is characterized by a mix of established residential blocks and evolving commercial hubs. This parcel is suited for high-density residential or mixed-use redevelopment, consistent with the neighborhood's urban growth patterns. Ideal project profiles include multi-family housing complexes or workforce housing developments that leverage the site’s accessibility to major transit arteries. Potential occupants typically include developers seeking infill opportunities or regional housing providers looking to expand within an established residential pocket of the city.

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NOI
$80,000
Cap Rate
16.84%
DSCR
2.84
Strong
Cash-on-Cash
36.35%
Monthly Payment
$2,350.041
Annual Cash Flow
$51,799.51

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