2408 SE 139TH AVE, Portland, OR 97233
Multnomah County
Key Facts
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.
Property Information
Property Type
Land
Sub-Type
Multi Family
Lot Size
0.36 acres
Zoning
RM1
MLS® Listing#
231612732
Property Features
Cooling
Heating
Lot Features
Utilities
Sewer
Schools
- Elementary:
- Lincoln Park
- Middle:
- Ron Russell
- High:
- David Douglas
Financial Details
HOA
None
Annual Taxes
$1,499
Tax year 2025
Parcel Number
R183888
Directions
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Affordability Calculator
$49,980
Estimated monthly payment
$1,330/mo
Principal $199,920 · Est. interest $278,906 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Portland, OR
- $507,009
- Median Listing Price
- 173
- Median Days on Market
- 1,572
- Median Sq Ft
- $327
- Median Price / Sq Ft
- 2,279
- Active Listings
- This home’s price is 51% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Portland, OR.
Location
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Points of Interest in Portland, OR
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Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 13620 SW BEEF BEND RD 51, Portland, OR | $175,000 | 4 | 2 | 1,782 |
| 1134 SW JEFFERSON ST 309, Portland, OR | $175,000 | 1 | 1 | 756 |
| 2915 NE Marine Dr A-20, Portland, OR | $175,000 | 1 | 2 | 1,556 |
| 906 SW SKYLINE BLVD, Portland, OR | $175,000 | — | — | — |
| 2109 NW IRVING ST 407, Portland, OR | $178,000 | 1 | 1 | 513 |
| 4763 N LOMBARD ST 7, Portland, OR | $179,000 | 1 | 1 | 436 |
Moving Cost Estimate
EXIT Agents in Portland
Listing Courtesy: Cascade Hasson Sotheby's International Realty - 5033359898
Presented by: Mary Nguyen
Last Updated: 2026-02-10