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. Whether you're an experienced developer or a newcomer to the real estate scene, this property's pre-established groundwork, versatility make it a rare find. [Home Energy Score = 4. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10222321]
Listing Provided Courtesy of Nicole Richards, eXp Realty, LLC
General Information
716428779
SingleFamilyResidence
41
DOM
3
0.53 acres
1
1230
1942
RA5
Multnomah
R215171
W Powellhurst
Ron Russell 6/10
David Douglas
Residential
SingleFamilyResidence
MCGREWS TR, BLOCK 2, LOT 16
Listing Provided Courtesy of Nicole Richards, eXp Realty, LLC
Krishna Realty data last checked: Apr 23, 2026 15:52 | Listing last modified Mar 13, 2026 12:54,
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Residence Information
246
984
0
1230
Trio
1230
1/Gas
3
1
0
1
Composition
2, Detached
Stories1
Driveway,OffStreet
1
1942
Yes
LapSiding
RVParking
Features and Utilities
WallFurnace
PublicSewer
Electricity
Financial
4674.13
0
Cash,Conventional,OwnerWillCarry
03-13-2026
1800
No
No
Comparable Information
41
41
Cash,Conventional,OwnerWillCarry
$875,000
$875,000
Mar 13, 2026 12:54
Schools
Elementary : W PowellhurstN/ARatingspublic Middle : Ron Russell
6/10Ratings High : David DouglasN/ARatings
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. Whether you're an experienced developer or a newcomer to the real estate scene, this property's pre-established groundwork, versatility make it a rare find. [Home Energy Score = 4. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10222321]
