An exceptional teardown/development opportunity in the heart of Cully! Sitting on a generous 9,000 sq ft R7-zoned lot, this property offers flexibility for redevelopment or extreme renovation/rebuild— including potential for a single-family home with ADUs, duplex, fourplex, cottage cluster, or up to six units with affordability bonuses (per MHLD zoning… Read More provisions). A recent feasibility/design-build report confirms multiple viable development paths, including FAR bonuses, tree and storm water allowances, and infrastructure upgrade requirements. The site is flat, well-drained, and fronts a quiet stretch of NE Alberta, eligible for LTIC in lieu of frontage construction.Whether you're a builder, developer, or future homeowner envisioning custom new construction, this is a rare canvas with real architectural and income potential. Ideal for developers or buyers with vision—whether you're building new or exploring high-effort renovation potential.* Feasibility Report Available to purchaser* Multiple unit types permitted (SFR, ADU, Four-Sixplex, Cottage Cluster)* Affordable housing incentives & SDC exemptions* Lot is 50’ wide by 180’ deep lot (9,000 sf) Zoned R7* Gross Development Value: up to ~$2,000,000 (six plex) * Existing structures on the property...* 1,152 sf single story SFR with no basement, built in 1942* 80 sf shed and 240 sf detached garage. City of Portland email info on property available. Read Less
Listing courtesy of Real Estate Experts.
Listing Snapshot
Days Online
30
Last Updated
Property Type
SingleFamilyResidence
Beds
3
Full Baths
1
Square Ft.
1,152
Lot Size
0.21 Acres
Year Built
1942
MLS Number
244668248
30 Days Snapshot Of 97218
$579k
+10%
(avg) sold price
15
+7%
homes sold
9
-86%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Road Surface Type: Paved
Basement
Basement: CrawlSpace
Building
Architectural Style: Stories1, Building Area Calculated: 1152, Building Area Description: County, Building Area Total: 1152, Built in 1942, Main Level Area Total: 1152, Stories: 1
All information provided is deemed reliable but is not guaranteed and should be independently verified.
This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
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