This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

3802 NE Martin Luther King Jr Blvd - MLK & Failing Apartments

0.44 Acres of Residential Land Offered at $2,990,000 in Portland, OR 97212

INVESTMENT HIGHLIGHTS

  • Permit-Ready, Fully-Engineered Multifamily Development Opportunity
  • 4 Buildings - 4 Contiguous Tax lots
  • High-Visibility Location Directly along NE MLK Jr Blvd
  • 83 Planned Market-Rate Units Including Live / Work Units
  • 62 Studio Units / 21 1-Bedroom Units
  • Proximity to N Williams and N Mississipi Shopping / Dining Districts

EXECUTIVE SUMMARY

Permit-Ready Multifamily Development Site in NE Portland
83 Projected Units Including Live / Work • High-Visibility Location
--------------------
Sale Price: $2,990,000
Total Land Area: 19,200 SF (4 Parcels)
Projected Units: 83 Units (74 Residential + 9 Live/Work)
Total Gross Area (All Buildings): 46,139 SF
Total Rentable Area (All Buildings): 35,118 SF
--------------------
Property Features:
• Multifamily Development Site in NE Portland
• Fully-Engineered, Permit Ready Opportunity for 83 Units (74 Apartments + 9 Live-Work Units)
• 62 Studio and 21 1-Bedroom Units Ranging from 336 - 702 Average Sq. Ft.
• Buildings 1-3 have 21 Total Units Each, with Building 4 having 20 Total Units (Incl. Live-Work)
• High-Visibility Location along NE MLK Corridor
--------------------
Location Features:
• Located on the Bustling Corridor of NE MLK Jr Blvd in Inner Northeast Portland
• Multiple Bus Lines within Short Walking Distance
• Just East of Shopping and Dining Districts along N Williams Avenue and N Mississippi Avenue
• Highlights within 1/2 Mile Include True Value, Cafe Olli, Life of Pie, Migration Brewing, Lua, Ding Tea, New Seasons Market, Mud Bay, Yes Please, Maui’s

PROPERTY FACTS

Price $2,990,000
Sale Type Investment or Owner User
No. Lots 1
Property Type Land
Property Subtype Residential
Proposed Use
Mixed Use
  • Multifamily
  • Apartment Units
Total Lot Size 0.44 AC

1 LOT AVAILABLE

Lot

Price $2,990,000
Price Per AC $6,783,567.88
Lot Size 0.44 AC

PERMIT-READY Multifamily Development Site - 4 Contiguous Tax Lots - CM3 Zoning - 83 Planned Market-Rate Units (4 Buildings) - Residential + Live / Work Units - High Visibility Location Directly on NE MLK Jr Blvd

Walk Score®
Walker's Paradise (93)
Bike Score®
Biker's Paradise (100)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • R702810
  • R702837
  • R702846
  • R206899
Land Assessment
$774,590
Improvements Assessment
$0
Total Assessment
$1,027,190

ZONING

Zoning Code CM3
CM3
  • Listing ID: 26682418

  • Date on Market: 9/21/2022

  • Last Updated:

  • Address: 3802 NE Martin Luther King Jr Blvd, Portland, OR 97212

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}