SE 37th & Sandy Redevelopment
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SE 37th & Sandy Redevelopment
3 Properties Offered at $1,300,000 in Portland, OR
Investment Highlights
- Flexible investment: Owner/User; Investment; Redevelopment (CM3 zoning)
- Former Vet hospital with 2 SFR rentals with off-street parking
- 150’ of Sandy Blvd Frontage
- 0.33 ac (15,000 sf) lot in coveted Laurelhurst neighborhood
- Designated DDA (Difficult Development Area) by HUD
- ODOT Buffer from I-84
Executive Summary
Price reduced! This property consists of a 3,750sf former pet hospital and two 952sf rental houses with 500 sf basements and off street parking. Each of the 3 buildings sit on a 0.11 ac CM3 zoned lot. The former pet hospital and one of the rental houses are vacant while one rental house has a month to month tenant at $1,450/mo.
This is perfect for an owner user that would like additional rental income or for a redevelopment utilizing the CM3 zoning for a commercial mixed-use market rate or affordable housing development up to 6 stories tall (7 if bonuses are awarded), with parking only required if there are over 30 units of residential.
There is 150’ of frontage on Sandy Blvd that borders the highly coveted Laurelhurst neighborhood, allows access to the onramp of Interstate 84, all while being less than 1.5 miles from Portland Providence hospital, and only 1/2-mile to the new City Target, Trader Joes, 24-hour fitness, and Hollywood Transit Center in Hollywood. There are many boutique businesses, some of the city’s best and well known restaurants and coffee shops are within walking distance as well. Check with listing broker about potential to increase the development size.
This is perfect for an owner user that would like additional rental income or for a redevelopment utilizing the CM3 zoning for a commercial mixed-use market rate or affordable housing development up to 6 stories tall (7 if bonuses are awarded), with parking only required if there are over 30 units of residential.
There is 150’ of frontage on Sandy Blvd that borders the highly coveted Laurelhurst neighborhood, allows access to the onramp of Interstate 84, all while being less than 1.5 miles from Portland Providence hospital, and only 1/2-mile to the new City Target, Trader Joes, 24-hour fitness, and Hollywood Transit Center in Hollywood. There are many boutique businesses, some of the city’s best and well known restaurants and coffee shops are within walking distance as well. Check with listing broker about potential to increase the development size.
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Property Facts
| Price | $1,300,000 | Number of Properties | 3 |
| Price / SF | $390.98 / SF | Individually For Sale | 0 |
| Sale Type | Investment or Owner User | Total Building Size | 3,325 SF |
| Status | Active | Total Land Area | 0.33 AC |
| Price | $1,300,000 |
| Price / SF | $390.98 / SF |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 3,325 SF |
| Total Land Area | 0.33 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 3565 NE Sandy Blvd, Portland, OR 97232 | Retail | 3,325 SF | 1943 | - |
| 3615 NE Sandy Blvd, Portland, OR 97232 | Land | 0.11 AC | - | - |
| 3603 NE Sandy Blvd, Portland, OR 97232 | Land | 0.11 AC | - | - |
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SE 37th & Sandy Redevelopment
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