Additional details

Discover Northwest Realty - Land

info@unitedcountrynw.com +1(360) 843-4032

Listed by RE/MAX Equity Group • kevin@realtorkevin.com

$699,000

Est. payment - /mo

1,632 SqFt

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UPDATED:

Key Details

Property Type Commercial

Sub Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 1,632 sqft

Price per Sqft $428

MLS Listing ID 503257729

Year Built 1908

Annual Tax Amount $1,503

Tax Year 2025

Lot Size 5,227 Sqft

Property Sub-Type Commercial

Property Description

Positioned at the prominent corner of N Albina Avenue and N Ainsworth Street, directly across from Peninsula Park, this versatile N Portland property presents a compelling blend of established income and future development potential. The offering includes a commercial building attached to a single-family residence, creating a unique opportunity for an owner, investor, or developer seeking multiple uses within one property.The commercial and residential components feature a shared but divided basement, while separate utilities provide functional independence between the spaces. Both current tenants are on a month-to-month basis, offering immediate rental income while allowing a future owner flexibility to evaluate and pursue the property's long-term potential.The lot also offers open space that may provide an opportunity for an ADU, tiny house, or additional development, subject to applicable requirements and approvals. The property is zoned RM2, a designation that, according to the City of Portland zoning information, allows for significant development potential. Buyers are encouraged to independently verify zoning, permitted uses, development opportunities, dimensional requirements, and all applicable regulations with the City of Portland.Location adds another important dimension to the opportunity. Situated just a few blocks from I-5, with convenient access to nearby transit and directly across from the expansive green space of Peninsula Park, the property benefits from strong connectivity and a highly visible, established neighborhood setting.Whether the strategy is to continue generating income, occupy one portion, or work with the City toward future redevelopment, this property offers flexibility rarely found in a single acquisition. With separate utilities, two existing income-producing uses, month-to-month tenancy, additional lot area, and RM2 zoning, it is a distinctive opportunity to secure a property with both current utility and meaningful upside.

Location

State OR

County Multnomah

Area _141

Zoning RM2

Interior

Heating Mini Split

Cooling Mini Split

Equipment Fixtures

Exterior

Roof Type Composition,Flat

Garage No

Building

Story 1

Sewer Public Sewer

Water Public Water

Level or Stories 1

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

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Regional Multiple Listing Service (RMLS)

Nearby School & Business

Discover Northwest Realty - Land

Broker License ID: 90947

+1(360) 843-4032 | info@unitedcountrynw.com

5949 N ALBINA AVE Portland, OR 97217

Discover Northwest Realty - Land

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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